(Updates Singapore and Thailand to close, updates table)
By Shreya Mariam Job
Oct 2 (Reuters) - Southeast Asian stock markets fell on
Wednesday, tracking broader global markets as weak U.S.
manufacturing data stoked fears of a global economic slowdown
and reignited concern over the impact of the U.S.-China trade
war.
U.S. manufacturing activity tumbled to a more than 10-year
low in September as lingering trade tensions weighed on exports.
The news dragged most of the regional indexes to post losses
of more than 1 percent. Joel Ng, an analyst at KGI securities
said, "The moves are a bit more exaggerated because of lower
liquidity."
The Philippine index .PSI slumped 1.7% closing at a near
four and a half month low following a large sell-off in the last
10 minutes of trade.
Real estate and financial stocks weighed on the index, with
top property stocks SM Prime Holdings and Ayala Land Inc
shedding 1.8% and 2.4% respectively while BDO Unibank Inc
BDO.PS dropped 4.5%.
This comes after Philippines Central Bank Governor Benjamin
Diokno said he would rather online gambling operators left the
country. These firms known in Philippines as POGOs (Philippine
offshore gambling operators) have been vital in drawing Chinese
tourists to the country, boosting property demand and retail
spending.
However, the central bank chief said banning online gambling
will have little impact on the Philippines economy.
Singapore stocks .STI shed 1.4% hurt by financials.
DBS Group Holdings Ltd DBSM.SI shed 1.9%, while its
smaller lending peer United Overseas Bank UOBH.SI dropped
1.6%.
Indonesian shares .JKSE deepened the fall over the session
to end 1.4% lower, with bigger losses mainly among financials
and materials stocks.
An index of the country's 45 most liquid stocks .JKLQ45
fell 1.9%.
Bank Mandiri Tbk Pt BMRI.JK dropped as much as 5.8% to its
lowest level in more than 11 months.
Financial and industrial stocks pushed the Thai benchmark
stock index .SETI 0.6% lower, with Airports of Thailand
AOT.BK slipping 1.7% and Kasikornbank KBANK.BK dipping 3.2%.
Kasirkonbank said it will start giving digital loans to
sellers on Sea Ltd's SE.N e-commerce business Shopee, in the
bank's latest digital partnership. However, Thai bank earnings have been under pressure from a
digital transaction fee waiver last year and slowing loan
growth.
Elsewhere, real estate and financials dragged Vietnam stocks
.VNI , while Malaysian stocks .KLSE were dragged lower by
financial and consumer stocks.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3103.45 3146.03 -1.35
Bangkok 1613.64 1624.09 -0.64
Manila 7610.68 7739.86 -1.67
Jakarta 6055.425 6138.25 -1.35
Kuala Lumpur 1574.9 1589.44 -0.91
Ho Chi Minh 991.19 999.59 -0.84
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3103.45 3068.76 1.13
Bangkok 1613.64 1563.88 3.18
Manila 7610.68 7,466.02 1.94
Jakarta 6055.425 6,194.50 -2.25
Kuala Lumpur 1574.9 1690.58 -6.84
Ho Chi Minh 991.19 892.54 11.05