SE Asia Stocks-Slide as trade uncertainty, HK unrest hurt risk sentiment

Reuters

Published Nov 13, 2019 18:06

SE Asia Stocks-Slide as trade uncertainty, HK unrest hurt risk sentiment

SE Asia Stocks-Slide as trade uncertainty, HK unrest hurt risk sentiment

* Singapore stocks with Hong Kong exposure drop
* Singapore leads falls with 0.9% decline

By Rashmi Ashok
Nov 13 (Reuters) - Southeast Asian stock markets skidded on
Wednesday as investors sold off risky assets amid uncertainty
surrounding the extent of progress in Sino-U.S. trade talks and
intensifying protests in Hong Kong.
In a speech at the Economic Club of New York, U.S. President
Donald Trump said the signing of an initial trade deal was
close, but did not offer further details on dates or the terms
of the agreement. "Risk aversion appears to be creeping back into the
markets," Han Tan, a market analyst at brokerage FXTM, said in a
note.
Asian stocks fell despite their U.S. counterparts
tantalisingly close to setting record highs, as investors
continue to sieve through potential signals from the noise
surrounding the trade deal, he wrote.
Curbing risk appetite further, anti-government protests
continued to cause disruption in Hong Kong. The Hang Seng index
.HSI fell nearly 2% to a four-week low in late trade.
Singapore shares .STI closed 0.9% lower. Hongkong Land
Holdings HKLD.SI , a property manager with large assets in Hong
Kong, fell 3.4% and was among the top percentage losers.
Conglomerate Jardine Strategic Holdings JSH.SI , which also
has significant interests in the Greater China region and is the
majority stakeholder in Hongkong Land, traded 4% lower.
Philippine stocks .PSI posted deep losses, dragged by
heavyweights like Globe Telecom Inc GLO.PS and Ayala Corp
AC.PS , which fell 2.1% and 1.9%, respectively.
Indonesian stocks .JKSE traded 0.6% lower, dragged by
consumer stocks like household products maker Unilever Indonesia
Tbk UNVR.JK and animal feed maker Charoen Pokphand Indonesia
Tbk CPIN.JK .
An index of Indonesia's 45 most liquid stocks .JKLQ45
declined 1%.
Malaysian stocks .KLSE slid 0.8%, dragged by a 5.4% drop
in index heavyweight Petronas Chemicals Group PCGB.KL , after
the chemicals maker posted a steep fall in third-quarter profit.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS

Change on the day
Market Current Previous close Pct Move
Singapore 3239.22 3267.8 -0.87
Bangkok 1615.14 1626.2 -0.68
Manila 7947.47 8012.34 -0.81
Jakarta 6142.501 6180.992 -0.62
Kuala Lumpur 1597.22 1609.73 -0.78
Ho Chi Minh 1012.77 1018.33 -0.55

Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3239.22 3068.76 5.55
Bangkok 1615.14 1563.88 3.28
Manila 7947.47 7,466.02 6.45
Jakarta 6142.501 6,194.50 -0.84
Kuala Lumpur 1597.22 1690.58 -5.52
Ho Chi Minh 1012.77 892.54 13.47

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