Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Bangkok Post
Bangkok Post
Business
BANGKOK POST AND REUTERS

SE Asia stock markets fall on weak China data, growth woes

Most Southeast Asian stock markets closed lower on Friday after a set of weak data from the region's biggest trade partner China signalled at concerns around global economic slowdown and apprehensions over Washington and Beijing's trade negotiations.

China's November retail sales grew at the weakest pace since 2003 and industrial output rose the least in nearly three years as domestic demand softened further.

Industrial output rose 5.4% in November, missing analysts' estimates of a 5.9% rise.

Investors were also cautious ahead of US Federal Reserve's last meeting of 2018 next week, as they expected a rise in borrowing costs due to a rate hike. Markets would be watchful of signals for the number and pace of rate hikes next year.

The Stock Exchange of Thailand index eased 5.54 points or 0.34% to 1,609.45, in trade of 44.91 billion baht.

The Singapore index was the worst performer in the region with about 1% weekly decline. United Overseas Bank's stock was among the top losers and shed 2.5%.

Malaysia's benchmark index slipped 0.8%, weighed down by losses in shares of financial services provider Malayan Banking Bhd and Public Bank Bhd.

Shares of hospital operator IHH Healthcare ended 3.6% lower, after a report said India's apex court had put a hold on sale of Fortis Healthcare to IHH.

The Indonesian index ended marginally lower. The session's losses were concentrated in material and financials sectors.

Meanwhile, a Reuters poll showed the country is expected to post a smaller trade deficit in November, compared with the previous month, in a relief to the central bank which has been raising rates to defend the rupiah.

The Vietnam benchmark index slipped to a near two-week low, hurt by financials and real estate stocks. Shares of Joint Stock Commercial Bank for Foreign Trade of Viet Nam edged down to their lowest since Nov 30.

However, the Philippine index settled flat after declines in the financial and real estate stocks paired gains in other major sectors. The index also posted its fifth straight sessions of weekly gains. 

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.