Southeast Asia stocks end lower

Southeast Asia stocks end lower

Most Southeast Asian stock markets closed lower on Monday as persisting concerns over Donald Trump's ability to fulfil his economic agenda and joint US-South Korean computer-simulated military drills stoked caution.

Concerns have increased since Mr Trump's comments on violence in Charlottesville, Virginia that alienated Republicans, corporate leaders and US allies, rattling markets and prompting speculation about possible White House resignations.

Sentiment was also hurt as South Korean and US forces began computer-simulated military exercises on Monday amid tensions over North Korea's missile and nuclear programmes. 

In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan was largely flat in the session. Considering caution across the globe, investors are still trying to make things a little conservative in terms of the investment approach, said Taye Shim, head of research at Jakarta-based Mirae Asset Sekuritas. 

Indonesian shares fell 0.6%, hurt by consumer staples stocks, with clove cigarette maker Hanjaya Mandala Sampoerna falling 4% and palm plantations manager Sawit Sumbermas Sarana dropping 1.6%.

Singapore closed lower, with real estate stocks accounting for most of the losses, as City Developments and CapitaLand fell 1.5% and 0.5%, respectively.

The Philippine financial markets were closed for a public holiday.

Southeast Asian stock markets

 

 

Current

Previous

% change

Indonesia                

5,861.00

5,893.84

-0.56

Malaysia       

1,771.62

1,776.22

-0.26

Philippines                 

 

 

Closed for a public holiday

Singapore                 

3,246.99

3,251.99

-0.15

Vietnam        

768.79

768.97

-0.02

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