SE Asia Stocks-Fall as risk sentiment hurt after N.Korea missile test

By Chandini Monnappa
July 4 (Reuters) – Southeast Asian stocks slipped on Tuesday
as risk appetite took a hit after North Korea test-launched a
ballistic missile.
The launch of the missile, which landed in Japan’s Exclusive
Economic Zone, came days before leaders from the Group of 20
nations are due to discuss steps to rein in Pyongyang’s weapons
“We can expect the missile launch to cause some backlash and
a bit of risk-off among Asian investors at least for the rest of
the week,” said Victor Felix, an equity analyst with AB Capital
Global crude oil prices rose more than 2 percent on Monday,
but had little impact on Southeast Asian traders.
The Jakarta Composite Index led the losses in the
region, falling 0.6 percent as consumer staples and
telecommunication shares declined. Telekomunikasi Indonesia
(Persero) Tbk PT slipped as much as 2.7 percent and
was the biggest drag on the index.
Indonesia is hoping for additional inflows worth $10 billion
from pension funds and other institutional investors over the
next two years, President Joko Widodo said, after Standard &
Poor’s on May 19 upgraded the country’s credit rating to
investment grade.
Philippine stocks also drifted lower, dragged down by
real estate and industrial stocks.
A Reuters poll showed that the Philippines’ annual inflation
likely eased in June, a development that would further reduce
chances of an interest rate hike this year.
Meanwhile, Singapore inched down 0.4 percent and
Vietnam shares fell 0.5 percent.

For Asian Companies click;

Change on the day
Market Current previous close Pct Move
Singapore 3211.05 3223.46 -0.38
Bangkok 1577.83 1579.41 -0.10
Manila 7841.48 7866.52 -0.32
Jakarta 5874.236 5910.237 -0.61
Kuala Lumpur 1763.7 1768.67 -0.28
Ho Chi Minh 774.96 778.88 -0.50

Change so far this year
Market Current End 2016 Pct Move
Singapore 3211.05 2880.76 11.47
Bangkok 1577.83 1542.94 2.26
Manila 7841.48 6840.64 14.63
Jakarta 5874.236 5296.711 10.90
Kuala Lumpur 1763.7 1641.73 7.43
Ho Chi Minh 774.96 664.87 16.56

(Reporting by Chandini Monnappa; Editing by Amrutha Gayathri)