Mapletree Logistics Trust logo

M44U - Mapletree Logistics Trust News Story

S$1.98 -0.0  -0.5%

Last Trade - 07/05/21

Large Cap
Market Cap £4.58bn
Enterprise Value £6.78bn
Revenue £303.1m
Position in Universe 334th / 6094

EMERGING MARKETS-Philippine stocks near 2-month low, rupiah recovers

Thu 23rd July, 2020 8:47am
* Graphic: World FX rates
    * Graphic: Foreign flows into Asian stocks
    * Philippine stocks hit lowest since June 1
    * Singapore shares climb 1%
    * U.S.-China worries cap broader view

    By Shashwat Awasthi
    July 23 (Reuters) - Philippine shares fell for the third straight session on Thursday as
domestic coronavirus cases topped 1,000 for a seventh successive day and renewed U.S.-China
tensions weighed on a number of emerging Asian markets.
    Stock markets in Taiwan  .TWII  and South Korea  .KS11  tracked a roughly half percent fall
in Shanghai shares after Beijing on Wednesday called the shutdown of its Houston consulate an
"unprecedented escalation" of tensions with the United States.*:nL3N2ET1XV
    Seoul shares also weakened as the country slid into recession in the second quarter.
    Indonesia was among those bucking the trend, however, with the rupiah recouping more of last
week's hefty losses against a shaky U.S. dollar.
    Manila's benchmark index  .PSI , the region's biggest laggard this year, sank as much as
2.4% before recovering some ground to end 0.6% lower as worries about its COVID-19 outbreak
continued to grow.*:nP9N2DB01V
    Chinese state media on Thursday cast the events in Houston as an attempt to blame Beijing
for U.S. failures ahead of the November presidential election but many traders still expect the
country to retaliate.
    "While investors had been shrugging off earlier aggravation on Hong Kong and more, the
shuttering of foreign consulates perhaps opens up a new front for U.S.-China tensions," said IG
market strategist Jingyi Pan.
    Among currencies, the rupiah  IDR=  rose 0.7% to its strongest level this week, gaining for
a third straight day despite a record increase in new virus cases on Wednesday.*:nJ9N2C200E
    Southeast Asia's worst performing currency so far this year had lost more than 2% last week
after Bank Indonesia cut interest rates for a fourth time this year and COVID-19 infections
continued to multiply.
    Jakarta stocks  .JKSE  advanced 0.7% to their highest since March 11.
    In tourism-reliant Thailand, where a swathe of cabinet resignations this month has stoked
political and economic uncertainty, the baht  THB=  and stocks  .SETI  eased.
    The central bank on Thursday denied intervening in the currency market to strengthen
exporters' competitive edge and dismissed a media report that Thailand could be added to a U.S.
watch list for currency manipulation as speculation.*:nL3N2ET2TF
    Singapore stocks  .STI  bounced after losses on Wednesday to add 1%.
    ** Indonesian 10-year benchmark yields are down 5.7 basis points at 6.935%
    ** Top gainers on the Jakarta stock index  .JKSE  include Indofarma Tbk  INAF.JK  up 25%,
Phapros Tbk  PEHA.JK  up 24.92% and Kimia Farma Tbk  KAEF.JK  up ​24.77%
    ** Top gainers on the Singapore STI  .STI  include Mapletree Logistics Trust  MAPL.SI  up
5.42%, Mapletree Industrial Trust  MAPI.SI  up 4.71% and Ascendas Real Estate Investment Trust
 AEMN.SI  up 4.49%
  Asia stock indexes and currencies at 0650 GMT                                           
    Japan        JPY=       +0.05        +1.42       .N225        -0.58          -3.83
    China      CNY=CFXS     +0.06        -0.45       .SSEC        -0.59           8.63
    India       INR=IN      -0.18        -4.49       .NSEI         0.64          -7.93
  Indonesia      IDR=       +0.65        -4.51       .JKSE         0.66          -18.34
  Malaysia       MYR=       -0.07        -3.79       .KLSE         0.72           0.61
 Philippines     PHP=       -0.02        +2.63        .PSI        -0.58          -22.86
  S. Korea     KRW=KFTC     -0.17        -3.42       .KS11        -0.56           0.84
  Singapore      SGD=       +0.20        -2.76        .STI         0.94          -18.74
   Taiwan       TWD=TP      +0.40        +2.37       .TWII        -0.48           3.47
  Thailand      THB=TH      -0.06        -5.41       .SETI        -0.12          -14.21
 (Reporting by Shashwat Awasthi and Pranav A K in Bengaluru; Editing by Subhranshu Sahu)
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.