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SE Asia Stocks-Most down as Syria, North Korea tensions weigh

April 11 (Reuters) – Most Southeast Asian stocks ended down

on Tuesday as geopolitical tensions stemming from Syria and

North Korea continued to hurt risk appetite.

Markets indulged in mixed trading, “taking note of the

recent heightened geopolitical tensions as the U.S. sent a

carrier strike group to Northern Korean Peninsular,”

Singapore-based Net Research Asia said in a note.

The possibility of military action against North Korea in

response to its weapon tests grew after the U.S. missile strikes

against Syria last week in retaliation to a chemical weapons’

attack on civilians.

“Traders mentioned the upcoming French elections, Brexit

negotiations and the G7 meeting as key impediments for markets

in the short term,” Net Research Asia added.

The White House said U.S. President Donald Trump was open to

authorising more strikes on Syria, while pressure is building on

Russia to break its ties with Syrian President Bashar al-Assad

as G7 foreign ministers start efforts to build a united front

against Assad.

Indonesian shares posted their third consecutive

session of declines, with the index of the country’s 45 most

liquid stocks closing down 0.5 percent.

Financials were the biggest losers, with Bank Mandiri

(Persero) Tbk Pt shedding 2.5 percent.

The Philippines reversed early gains to end in

negative territory, pulled down by real estate stocks, with SM

Prime Holdings dropping 2.5 percent.

“Market traded in positive territory for most of today but

was swamped by profit-taking towards close,” RCBC Securities

said in a note.

Bucking the trend, other markets in the region traded

marginally higher.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS: Change on day

Market Current Prev close Pct Move

Singapore 3174.75 3181.45 -0.21

Bangkok 1582.78 1581.19 0.10

Manila 7601.4 7617.91 -0.22

Jakarta 5627.933 5644.299 -0.29

Kuala Lumpur 1735.84 1739.52 -0.21

Ho Chi Minh 731.33 729.87 0.20

Change on year

Market Current End 2016 Pct Move

Singapore 3174.75 2880.76 10.21

Bangkok 1582.78 1542.94 2.58

Manila 7601.4 6840.64 11.1

Jakarta 5627.933 5296.711 6.25

Kuala Lumpur 1735.84 1641.73 5.73

Ho Chi Minh 731.33 664.87 10

(Reporting by Krishna V Kurup in Bengaluru; Additional

reporting by Sindhu Chandrasekaran; Editing by Sherry

Jacob-Phillips)

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