SE Asian stocks tepid amid Trump worries

Dhaka,  Wed,  24 May 2017
Published : 19 May 2017, 12:41:33
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SE Asian stock markets tepid amid Trump worries

SE Asian stocks tepid amid Trump worries
Southeast Asian stock markets were tepid on Friday as investors shied away from taking any big bets amid concerns that political turmoil in the United States could delay efforts by President Donald Trump to implement his economic stimulus plans.

Trading was relatively soft in Southeast Asia. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 per cent at one point.

Philippine shares were little changed on Friday with industrial and telecom stocks among the major losers. JG Summit Holdings fell 1.5 per cent. 

The Philippine stock index was headed for a second straight weekly fall.

Singapore shares were almost flat, but headed for their first weekly drop in four.

Jakarta was up 0.3 per cent, but poised for its third straight weekly decline.

Malaysian stocks were slightly higher, helped by data showing the economy grew at a better-than-expected 5.6 per cent in the first quarter from a year earlier.

Vietnam hit a more than one-month high, supported by energy stocks, and was on track to post its fourth straight weekly gain.

Vietnam National Petroleum Group climbed 4.9 per cent and Petrovietnam Gas Joint Stock gained 1.3 per cent.

Thai shares edged up, aided by energy stocks. Thai Oil PCL rose 1.7 per cent, according to Reuters. 
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