Most Asean markets fall; Malaysia retreats from 3-month top

A Investment Management said despite the volatility in the markets and concerns over the trade wars,

SINGAPORE: Most Southeast Asian stock markets fell on Wednesday as a lack of supportive cues and caution ahead of a looming deadline on tariffs with China hurt risk sentiment.

A new set of tariffs may kick in next week as the deadline for public comment on U.S. President Donald Trump's plan to impose 25 percent tariffs on another $200 billion of Chinese goods is on Sept. 5.
    
Philippine shares fell for a second session in three, dragged by financials and consumer staples. Ayala Corp was among the biggest drags with a drop of 1.4 percent, while Universal Robina Corp slid over 2 percent. 
    
Malaysian shares retreated from a three-month high hit in the previous session. Medical gloves and equipment maker Hartalega Holdings Bhd was the biggest drag with a drop of 3 percent. Dialog Group followed closely with a 2.6 percent decline. 

Indonesian shares fell after two straight sessions of gains with financials leading the decline. Bank Central Asia and Bank Negara Indonesia declined 1.4 percent and 2 percent, respectively.

Thai shares were largely flat with Siam Commercial Bank rising 1 percent, while oil and gas producer PTT declined 0.5 percent.
    
Singapore shares rose marginally as gains in financials offset losses in industrials. 
    
Top lender DBS Group Holdings rose as much as 0.5 percent, while diversified conglomerate Jardine Matheson Holdings fell over 1 percent. - Reuters