Southeast Asian stocks trade in tight range

Published: February 12, 2019 12:44:20

Most Southeast Asian stock markets traded in a tight range on Tuesday as Washington and Beijing started a new round of talks on Monday to resolve their months-long trade dispute.

Stock markets across broader Asia remained largely unchanged in early trade.

Indonesian shares fell about 0.4 per cent, making them the top losers in Southeast Asia, pressured by telecom and consumer stocks.

Telekom Indonesia skidded as much as 1.8 per cent, while automotive services provider Astra International Tbk PT lost 2.5 per cent, reports Reuters.

Philippine shares declined slightly, dragged by real estate and industrial stocks. Meanwhile, the country's trade deficit narrowed in December as imports tumbled for the first time in a year.

Malaysian shares slipped 0.2 per cent, dragged by material and healthcare stocks.

Chemical producer Petronas Chemicals Group Bhd fell 2.0 per cent, while hospital operator IHH Healthcare Bhd dropped 2.5 per cent.

Vietnam shares climbed 0.7 per cent with real estate and financial stocks leading the gains.

Property developer Vingroup JSC scaled 1.9 per cent, while Bank for Investment and Development of Vietnam gained 2.4 per cent.

Thailand shares traded sideways after the Election Commission on Monday disqualified the princess from taking part in the election.

Share if you like