Southeast Asia stocks subdued after mixed China data

Published: March 14, 2019 11:15:42 | Updated: March 16, 2019 11:05:07


File photo (Collected)

Southeast Asian stock markets remained subdued on Thursday in thin trade, as investors chose to wait and watch, after a mixed set of economic data from China kept them on edge.

China's January-February industrial output slipped to a 17-year low, but investment picked up pace during the period as the government boosted road and rail projects in a bid to avert a slowdown.

However, retail sales were marginally better-than-expected, with the headline figure rising 8.2 per cent in January-February from a year earlier, in line with December.

Singapore's index slipped for a second straight day amid thinly traded volumes, after posting the sole loss in the region in the previous session.

Lender Oversea-Chinese Banking Corp Ltd edged lower, while index heavyweight Jardine Matheson Holdings Ltd fell about 2.6 per cent to weigh on the index.

Philippine's index also slipped, as financial and consumer stocks both weighed on the index, reports Reuters.

Metropolitan Bank & Trust Company fell 1.0 per cent while food and beverage manufacturer Universal Robina Corp lost 1.2 per cent.

Meanwhile, investors in Indonesia and Thailand appeared non-committal, with shares trading little changed. Malaysian stocks edged slightly lower.

Vietnamese stocks slipped, with consumer stocks weighing on the country's benchmark. Dairy processor Vietnam Dairy Products JSC was down nearly 1.0 per cent.

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