SE Asian stocks slump amid economic uncertainty

Published: May 23, 2018 12:09:16 | Updated: May 25, 2018 12:02:04


File Photo (Collected)

The Southeast Asian stock markets were mostly lower on Wednesday as US President Donald Trump tempered optimism over trade talks between Washington and Beijing.

The broader Asian stocks outside Japan were down 0.4 per cent after Trump said he was not pleased with recent US-China trade talks, renewing uncertainty, reports Reuters.

Singapore shares slid as much as 1.1 per cent to its lowest in more than five weeks, with financials dragging the index. The country’s annual headline inflation rate likely rose in April, a poll showed.

Malaysia's main index fell for a third straight session, down as much as 1.6 per cent. Telecom company Axiata Group shed over 10 per cent after reporting weak quarterly earnings.

Meanwhile, Indonesian shares gained as much as 1.5 per cent, with Bank Negara Indonesia and Bank Mandiri (Persero) both gaining more than 5.0 per cent.

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