• Snapshot
  • About
  • Country
  • List Of Stars
Last Price
08:02 GMT / 18 SEP 2019
Value Change [%]
[ -0.16 %]
Day's High
Year's High
Previous Close
Day's Low
Year's Low
  •    CEO
  •    O/L
  • FTSE Analytics
  • Market News
30 August 2019 - reuters.com
SE Asia Stocks-Philippines skids as soaring oil prices weigh
17 September 2019
source: reuters.com
    * Singapore falls after data shows exports slip in Aug
    * Vietnam up on last-minute buying in real estate stocks

    By Rashmi Ashok
    Sept 17 (Reuters) - Philippine stocks fell on Tuesday as
soaring crude oil prices stoked fears that the oil importing
nation's trade deficit could widen further, while Singapore
slipped after data showed exports contracted for a sixth
straight month in August.
    Crude oil prices jumped nearly 15% on Monday as attacks on
Saudi oil facilities over the weekend halved the kingdom's oil
output, creating the biggest disruption to global oil supplies
in decades and raising tensions in the Middle East.
    For countries that are running trade deficits, such as the
Philippines, higher oil prices run the risk of widening their
deficit and subsequently exerting downward pressure on the
currency. A weaker currency in turn further drives up the
country's spend on oil imports.
    "The question now is, how long will the prices stay high or
when will the supply normalise? Some say a few weeks, others say
few months," said Charles William Ang, associate analyst, COL
Financial Group.
    "If the market believes that oil prices will continue to
spike, then a correction in the market is certainly a distinct
    Philippine stocks  .PSI  shed 0.8%, making them the region's
 worst performers. SM Investments Corp  SM.PS  lost 1.5%, while
land developer Ayala Land  ALI.PS  shed 2.2%.
    Indonesian stocks  .JKSE  closed slightly higher, recovering
from a near 2% drop in the prior session.
    Indonesia, which has swung between a current account deficit
and surplus in recent months and is a net oil importer, may also
come under pressure if the oil spike lasts.
    Singapore stocks  .STI  fell after data showed exports
shrank for a sixth straight month. The figures were slightly
better than expectation but failed to lift investor
sentiment. urn:newsml:reuters.com:*:nS7N25T006    
    Conglomerate Jardine Strategic Holdings  JSH.SI  and
CapitaLand Ltd  CATL.SI  slipped 1.8% and 1.7%, respectively.
    Meanwhile, Vietnam shares  .VNI  added 0.7%, driven by
last-minute buying in real estate stocks with Vinhomes JSC
 VHM.HM  tacking on 2%.
    Malaysian stocks  .KLSE  see-sawed throughout the session to
close marginally higher.    
For Asian Companies click;  urn:newsml:reuters.com:*:nTOPEQA  

 Change on the day                               
 Market                 Current  Previous close  Pct Move
 Singapore              3183     3203.93         -0.65
 Bangkok                1663.93  1662.93         0.06
 Manila                 7932.23  7996.9          -0.81
 Jakarta                6236.69  6219.435        0.28
 Kuala Lumpur           1604.3   1601.25         0.19
 Ho Chi Minh            996.74   989.86          0.70
 Change so far in 2019                           
 Market                 Current  End 2018        Pct Move
 Singapore              3183     3068.76         3.72
 Bangkok                1663.93  1563.88         6.40
 Manila                 7932.23  7,466.02        6.24
 Jakarta                6236.69  6,194.50        0.68
 Kuala Lumpur           1604.3   1690.58         -5.10
 Ho Chi Minh            996.74   892.54          11.67
 (Reporting by Rashmi Ashok in Bengaluru; Editing by Subhranshu
 ((Rashmi.Ashok@thomsonreuters.com; +918067491689;))
Sign up for our newsletter
Interested to know more?