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M44U - Mapletree Logistics Trust News Story

S$1.9 -0.0  -1.6%

Last Trade - 14/05/21

Sector
Financials
Size
Large Cap
Market Cap £4.34bn
Enterprise Value £6.51bn
Revenue £299.6m
Position in Universe 338th / 6102

EMERGING MARKETS-Asian stocks drubbed after Wall St rout, U.S. jobs data awaited

Fri 4th September, 2020 8:46am
* Graphic: World FX rates http://tmsnrt.rs/2egbfVh
    * Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3f2vwbA
    * Indonesia stocks hit three-week low
    * Indian rupee set for first weekly decline in three
    * Philippine stocks outshine

    By Shashwat Awasthi
    Sept 4 (Reuters) - Emerging Asian stock markets were pummelled on Friday, with many plumbing
multi-week lows, after a steep sell-off on Wall Street unnerved investors ahead of U.S. jobs
data later in the session.
    Singapore shares  .STI  hit their lowest in more than a month, while bourses in South Korea
 .KS11  and Taiwan  .TWII  - home to heavyweight tech stocks - shed roughly 1% each.
    U.S. indexes marked their biggest one-day falls since June on Thursday on the back of
furious profit-taking, while analysts worry a disappointing non-farm payrolls report could
deepen the selling.
    "Unlike the private ADP employment miss earlier in the week, the reaction is not likely to
be muted if we find a disappointment here as well. Asian markets may stay under pressure into
next week if the sell-off on Wall Street continues," said Jingyi Pan, a market strategist at IG.
    Analysts at OCBC Bank suggested the jobs numbers could also provide hints on how much more
dovish the U.S. Federal Reserve could be at its meeting later this month.
    Stocks in Indonesia  .JKSE  slid more than 1%. The market has been plagued this week by
concerns over the central bank's independence as a proposal to overhaul Bank Indonesia is seen
as leading to more political influence on its monetary policy.  urn:newsml:reuters.com:*:nL4N2G019U
    Worries over economic slowdown have also weighed on stocks and the rupiah  IDR= , while a
record rise in coronavirus cases prompted experts to urge the government to revamp its strategy
to tackle the pandemic.  urn:newsml:reuters.com:*:nL4N2G02E2
    Philippine shares  .PSI  outperformed with a 0.2% gain, as inflation easing to the slowest
pace in three months in August raised hopes of more stimulus measures from the central bank.
 urn:newsml:reuters.com:*:nL4N2G10B5
    Ruben Asuncion, chief economist at Union Bank of the Philippines, said "the seemingly
declining level" of COVID-19 infections in the last three days also supported Manila stocks.
    Thailand markets were closed for a holiday.

    HIGHLIGHTS
    
    ** Singapore's 10-year benchmark yield is down 3 basis points at 0.94%
    ** Top losers on the Singapore STI include Venture Corporation  VENM.SI  down 4.66%, Keppel
Corporation  KPLM.SI  down 2.9% and Mapletree Logistics Trust  MAPL.SI  down 2.87%
    ** In the Philippines, top index gainers are Ayala Land  ALI.PS  up 4.83%, Robinsons Retail
 RRHI.PS  up 3.02% and San Miguel Corp  SMC.PS  up 2.83%
    
    
    Asia stock indexes and currencies at 0709 GMT                                      
   COUNTRY      FX RIC    FX DAILY %     FX YTD %      INDEX    STOCKS DAILY %   STOCKS YTD %
    Japan        JPY=        +0.07        +2.37        .N225         -1.11          -1.91
    China      CNY=CFXS      +0.06        +1.76        .SSEC         -0.79          10.11
    India       INR=IN       +0.22        -2.63        .NSEI         -1.07          -6.29
  Indonesia      IDR=        +0.07        -5.90        .JKSE         -1.35          -17.31
  Malaysia       MYR=        -0.05        -1.40        .KLSE         -0.40          -5.00
 Philippines     PHP=        +0.09        +4.22        .PSI          0.21           -25.98
   S.Korea     KRW=KFTC      -0.11        -2.79        .KS11         -1.15           7.76
  Singapore      SGD=        -0.01        -1.49        .STI          -1.22          -22.40
   Taiwan       TWD=TP       +0.74        +2.70        .TWII         -0.94           5.34
  Thailand      THB=TH       0.00         -4.81        .SETI         0.00           -16.96
    

 (Reporting by Shashwat Awasthi in Bengaluru; Editing by Subhranshu Sahu)
 ((Shashwat.Awasthi@thomsonreuters.com))
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