* Singapore shares fall to seven-week low
* Indonesia awaits Q2 GDP data
By Soumyajit Saha
Aug 5 (Reuters) - Southeast Asian stock markets took a
beating on Monday, with Philippines and Singapore sinking about
2%, as the Sino-U.S. trade war intensified, while weakening
services sector data from China added to the gloom.
Risk appetite was all but erased as a sudden escalation by
U.S. President Donald Trump last week broke a month-long trade
truce, with China vowing to counter what it called an
"irrational, irresponsible act".
"Trump's fresh tariff declaration have clearly reinstated
US-China risks to a "boil "from a "simmer"," Mizuho Bank said in
a note.
A fall in services sector growth in China, the region's
biggest trading partner, further added to the woe of market
participants. The Caixin/Markit services purchasing managers'
index (PMI) fell to 51.6 in July from June's 52.0, the lowest
reading since February. Financial stocks weighed on the Philippine index .PSI as
it fell more than 2%.
Property developer SM Prime Holdings SMPH.PS was down
2.5%, while lender Bank of the Philippine Islands BPI.PS shed
2.1%.
Singapore's index .STI fell to their lowest in over seven
weeks, hurt by financials and industrial sectors.
Conglomerate Jardine Matheson Holdings JARD.SI dropped
4.2%, while investment holding co DBS Group Holdings DBSM.SI
fell 2.6%
The Indonesian benchmark .JKSE touched their lowest in
over two weeks, hurt by losses in financial and consumer stocks.
Lender Bank Rakyat Indonesia (Persero) BBRI.JK and
cigarette manufacturer Hanjaya Mandala Sampoerna HMSP.JK
receded about 2.7% each.
Trading was also at a fraction of its monthly average as
investors awaited Indonesia's Q2 GDP data. A Reuters poll
forecast GDP growth to remain roughly unchanged from the
previous quarter. An index of Jakarta's 45 most liquid stocks .JKLQ45 dipped
1.7%.
Malaysian shares .KLSE fell, while the Thai index .SETI
was also lower, hurt by losses in their respective banking
sector stocks.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0343 GMT
Market Current Previous close Pct Move
Singapore 3199.95 3261.11 -1.88
Bangkok 1673.72 1684.71 -0.65
Manila 7960.01 8129.93 -2.09
Jakarta 6247.591 6340.18 -1.46
Kuala Lumpur 1613.14 1626.76 -0.84
Ho Chi Minh 983.64 991.1 -0.75
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3199.95 3068.76 4.28
Bangkok 1673.72 1563.88 7.02
Manila 7960.01 7,466.02 6.62
Jakarta 6247.591 6,194.50 0.86
Kuala Lumpur 1613.14 1690.58 -4.58
Ho Chi Minh 983.64 892.54 10.21