SE Asia Stocks-Fall as Wall St hit by U.S. healthcare vote delay

By Nicole Pinto
June 28 (Reuters) – Southeast Asian stock markets fell on Wednesday,
tracking broader Asia and Wall Street after a vote on U.S. healthcare reforms
was delayed, raising fresh questions about President Donald Trump’s domestic
agenda.
Asian shares fell on Wednesday after Wall Street took a hit as U.S. Senate
Republican leaders delayed a vote on a healthcare overhaul on Tuesday until next
month, adding to investor worries about Trump’s ability to deliver on his
promises of tax reform and deregulation.
MSCI’s broadest index of Asia-Pacific shares outside Japan
was down 0.3 percent, pulling further away from more than two-year highs probed
earlier this week.
“We’re trying to see how the Trump administration will be reacting to this
news but I think it’s showing that there is no solidarity or that Trump cannot
really hold onto his government,” said Mikey Macanaig, an analyst with
Sunsecurities Inc.
Meanwhile, Federal Reserve Chair Janet Yellen reiterated on Tuesday her view
that the U.S. central bank would continue to raise interest rates only
gradually.
Malaysian shares lost more than other markets in the region in
percentage terms, with IHH Healthcare Bhd and IJM Corp Bhd
declining 1.3 percent and 2.1 percent, respectively.
Singapore edged down 0.2 percent, dragged by declines in DBS Group
Holdings and Jardine Matheson Holdings which fell 0.3
percent and 1.1 percent, respectively.
Vietnam slid as much as 0.6 percent to a one-week low, retreating
from a nine-year high hit during the previous session.
“Vietnam’s trade deficit is expected to continue to widen. June 2017 trade
figures will be on tap tomorrow and consensus is expecting a trade deficit of
$230 million,” DBS Group said in a note.
“This will bring overall trade deficit for the first six months of the year
to about $2.38 billion, down sharply from a surplus of $1.29 billion.”
Indonesia’s financial markets were closed on account of national
holidays.

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SOUTHEAST ASIAN STOCK MARKETS: Change at 0409 GMT
STOCK MARKETS
Change on the
day
Market Current Previous Pct Move
Close
Singapore 3212.4 3219.53 -0.22
Bangkok 1585.1 1586.45 -0.09
Manila 7869.56 7876.37 -0.09
Kuala Lumpur 1772.21 1779.45 -0.41
Ho Chi Minh 766.83 767.51 -0.09

Change so far
this year
Market Current End 2016 Pct Move
Singapore 3212.4 2880.76 11.51
Bangkok 1585.1 1542.94 2.73
Manila 7869.56 6840.64 15.04
Kuala Lumpur 1772.21 1641.73 7.95
Ho Chi Minh 766.83 664.87 15.34

(Reporting by Nicole Pinto; Editing by Amrutha Gayathri)

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