* Singapore down after dismal June export data
* Resources, utility stocks weigh on Malaysia
By Soumyajit Saha
July 17 (Reuters) - Southeast Asian stock markets struggled
in a tight range on Wednesday after U.S. President Donald Trump
indicated that a resolution to the tariff war with China was not
imminent, souring investor sentiment.
Trading volume was low as market participants digested
Trump's threat of imposing tariffs on an additional $325 billion
worth of Chinese goods "if we want". The United States had "a
long way to go with China on trade", he said on Tuesday.
The general market tone would be "risk-off", ING Group said
in a note to clients, adding that Trump's renewed threat had
investors bracing for weak trading in the Asian session.
Trump's comments came after the world's two largest
economies last month agreed to a truce in the year-long trade
spat. The enduring tariff war has adversely impacted global
economic growth, especially in Southeast Asia whose biggest
trading partner is China.
Malaysian shares .KLSE fell 0.4%, hurt by losses in the
resources and utility sectors.
Petronas Chemicals Group PCGB.KL was 2.6% lower, while
electricity generator Tenaga Nasional TENA.KL was down 1.2%.
Singapore shares .STI slipped as disappointing June export
data weighed on the market.
Exports fell more than expected last month, marking their
biggest decline in six years, as the city-state struggles
against tepid global demand and the Sino-U.S. trade war.
The dismal data added to the gloom kicked-off by a 3.4%
shrink in the second-quarter GDP.
Consumer and industrial stocks were among the top losers.
Conglomerate Jardine Strategic Holdings JSH.SI fell 1.2%,
while Dairy Farm International Holdings DAIR.SI declined 2.3%.
Indonesian shares .JKSE edged lower, dragged by financial
and consumer stocks.
Automobile manufacturer Astra International ASII.JK fell
2%, while lender Bank Central Asia BBCA.JK shed 0.5%.
Philippine shares .PSI rose marginally, helped by consumer
and utility stocks.
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SOUTHEAST ASIAN STOCK MARKETS as at 0339 GMT
Market Current Previous close Pct Move
Singapore 3356.46 3360.03 -0.11
Bangkok 1728.82 1727.98 0.05
Manila 8270.2 8263.57 0.08
Jakarta 6390.944 6401.88 -0.17
Kuala Lumpur 1662.41 1668.94 -0.39
Ho Chi Minh 982.11 982.11 0.00
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3356.46 3068.76 9.38
Bangkok 1728.82 1563.88 10.55
Manila 8270.2 7,466.02 10.77
Jakarta 6390.944 6,194.50 3.17
Kuala Lumpur 1662.41 1690.58 -1.67
Ho Chi Minh 982.11 892.54 10.04