Most Asean markets slip ahead of long weekend


  • Markets
  • Thursday, 29 Mar 2018

The departure of economic adviser Gary Cohn sparked renewed worries Trump may go ahead with his proposed import tariffs on steel and aluminium.

SINGAPORE: Most Southeast Asian stock markets slipped on Thursday in thin trade ahead of a long weekend, while Singapore shares rose up to 1 percent on the back of gains in financials.

Singapore's FTSE Straits Times Index rose as much as 1.1 percent, but was set to end the month lower by 3 percent, in what could be its biggest monthly drop since January 2016.
    
Financials were the top gainers on robust bank lending data for last month. Total bank lending in February rose 3.8 percent from a year earlier and 0.1 percent from a month earlier.

DBS Group Holdings, United Overseas BanK and Oversea-Chinese Banking Corp climbed 0.3 percent to 1.6 percent.
    
Indonesian shares were down marginally after the previous session's 1.1 percent drop. Financials were among the top losers with Bank Central Asia shedding nearly 2 percent to a three-week low.
    
Thai shares dropped for a second straight session, hurt by losses in industrial and energy stocks.
    
PTT Pcl declined as much as 1.43 percent, while Airports of Thailand fell 1.85 percent to a three-month low. 
    
Vietnam shares fell after three consecutive sessions of gains with all but real estate and information technology stocks in the red. 
    
Joint Stock Commercial Bank for Investment and Development of Vietnam was the biggest drag with a drop of up to 1.35 percent.
    
The Philippine market is closed on Thursday and Friday for holidays. Markets in Singapore and Indonesia will be closed on Friday for holidays. - Reuters
 
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