SE Asia Stocks-Singapore drops on trade tensions, Trump impeachment probe
* Singapore stocks end at 3-week lows * Thai shares dip slightly after cenbank downgrades growth outlook * Indonesia ticks up to snap four-session losing streak By Anushka Trivedi Sept 25 (Reuters) - Trade-sensitive Singapore stocks had their worst session in one month on Wednesday as hopes of a trade deal faded on tough rhetoric from Washington and Beijing and as U.S. lawmakers launched an impeachment inquiry into President Donald Trump. Trump on Tuesday delivered a stinging criticism of China's trade practices at the United Nations General Assembly, prompting a response from China's top diplomat who said Beijing had no intention to "play the Game of Thrones on the world stage." The comments rattled wider Asian equities and kept most markets in the region subdued. Since chances of the inquiry into Trump's actions leading to his removal from office are quite low, immediate damage to the markets from his remarks about China would be much more significant than reports of his impeachment, said Joel Ng, an equity research analyst at KGI Securities. Singapore's benchmark index dropped almost 1% to a three-week low and was the biggest loser in the region. Industrial and financial sectors accounted for most of the losses on the benchmark, with conglomerate Jardine Matheson Holdings falling 1% and lender DBS Group Holdings Ltd shedding 1.2%. Malaysian stocks extended loses into a third session. The country's August inflation came in line with expectations, but analysts warned of price pressures remaining in check due to slowdown in growth. Thai shares dipped after the country's central bank lowered its 2019 export and economic growth forecast, while holding interest rates steady. Philippine's benchmark index pared earlier losses to end flat on last-minute buying in financial stocks such as SM Prime Holdings and Ayala Corp. Elsewhere, Indonesian shares snapped a four-session losing streak to end 0.1% higher. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Market Current Previous close Pct Move Singapore 3125.82 3155.46 -0.94 Bangkok 1628.38 1630.5 -0.13 Manila 7896.24 7893.94 0.03 Jakarta 6146.404 6137.608 0.14 Kuala Lumpur 1589.58 1592.33 -0.17 Ho Chi Minh 987.3 988.13 -0.08 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3125.82 3068.76 1.86 Bangkok 1628.38 1563.88 4.12 Manila 7896.24 7,466.02 5.76 Jakarta 6146.404 6,194.50 -0.78 Kuala Lumpur 1589.58 1690.58 -5.97 Ho Chi Minh 987.3 892.54 10.62 (Reporting by Anushka Trivedi in Bengaluru; Editing by Aditya Soni)
