Southeast Asian stocks edge lower in cautious trading

Published: April 12, 2019 12:29:26 | Updated: April 15, 2019 11:36:51

Southeast Asian stocks edged lower on Friday as investors exercised caution ahead of China's March trade data and a slower first quarter GDP growth in Singapore added to global growth worries.

The Philippine index led losses in the region with a 0.4 per cent fall, hurt by industrial and real estate stocks.

Singapore shares slipped into the red after disappointing first quarter GDP data, with industrials dragging the index, reports Reuters.

From the year ago, Singapore's GDP grew 1.3 per cent in the first quarter, below the 1.5 per cent expansion forecast by a Reuters poll.

Following this, Singapore's central bank on kept its monetary settings unchanged. The central bank also cut its 2019 core inflation forecast to 1 to 2.0 per cent, from 1.5 to 2.5 per cent previously.

Shares of Jardine Strategic Holdings Ltd and Jardine Matheson Holdings Ltd declined 1.0 per cent and 0.3 per cent, respectively.

However, Malaysian shares edged higher after a report www.mysinchew.com/node/121253 stated that the government is due to sign a new agreement with China for the East Coast Rail Link project, which would boost investment growth in the country.

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