* Trump says he could delay signing deal with China until
* Malaysia stocks fall to their lowest in 8 weeks
* Vietnam bucks trend to gain slightly
By Soumyajit Saha
Dec 4 () – Most Southeast Asian stock markets tracked
a global downturn on Wednesday as the Trump administration
dashed hopes of a quick preliminary deal to halt impending U.S.
tariffs on China.
U.S. President Donald Trump on Tuesday said he had « no
deadline » for a trade deal with China, and could wait until
after the U.S. presidential election in November 2020 to sign an
« There is justifiable cause to correlate Trump’s bluster to
Beijing’s insistence that tariff rollback is a pre-condition to
any deal, » Mizuho Bank said in a note to clients.
« In which case, it seems Trump’s priority is to not appear
weak in the run-up to the elections. »
The imminent tariffs on China, set to kick in on December
15, will only add to market woes as it is besieged by the
repercussions of multiple U.S. tariffs on Argentina, Brazil and
France, all announced earlier this week.
Tariff-sensitive Singapore stocks fell to their
lowest in six weeks, dented by losses in consumer and banking
Lender United Overseas Bank fell over 1%, while
agribusiness company Wilmar International lost over
The Philippine index fell, as losses in real estate
stocks weighed on the index, with SM Prime Holdings
and Ayala Land slipping 1.9% and 2.1%, respectively.
Malaysian shares fell to their lowest in nearly
eight weeks, after data showed that the country’s exports
dropped for the third straight month in October, though the pace
of decline was slower than expected.
The index was dragged lower by weakness in telecom and
Bucking the trend, Vietnam stocks edged a tick
higher, helped by gains in financials.
Real estate developer Vingroup was up 0.5%, while
Joint Stock Commercial Bank for Foreign Trade of Viet Nam
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0350 GMT
Change on the day
Market Current Previous Pct Move
Singapore 3149.33 3173.08 -0.75
Bangkok 1565.87 1567.63 -0.11
Manila 7789.66 7855.18 -0.83
Jakarta 6107.325 6133.896 -0.43
Kuala Lumpur 1554.42 1562.27 -0.50
Ho Chi Minh 954.43 953.43 0.10
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3149.33 3068.76 2.63
Bangkok 1565.87 1563.88 0.13
Manila 7789.66 7,466.02 4.33
Jakarta 6107.325 6,194.50 -1.41
Kuala Lumpur 1554.42 1690.58 -8.05
Ho Chi Minh 954.43 892.54 6.93
(Reporting by Soumyajit Saha in Bengaluru, Editing by Sherry
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