SE Asia Stocks-Most fall as U.S. tariffs spark fresh trade tensions
Tuesday, December 03, 2019       17:56 WIB

Dec 3 (Reuters) - Most Southeast Asian stock markets ended lower on Tuesday as U.S. tariffs on Brazil and Argentina threatened to aggravate global trade tensions, while weak U.S. factory data added to the dour sentiment.
The Trump administration on Monday announced tariffs on U.S. steel and aluminium imports from the Latam countries and vowed duties of up to 100% on French goods.
The announcements come when Washington and Beijing are looking to resolve their protracted trade war that has throttled global economic growth, with another round of U.S. tariffs due to take effect on Dec. 15.
"Ahead of the tariffs on China kicking in, we are expecting caution in the market for the next two weeks too," said Joel Ng, an analyst at Singapore-based KGI Securities.
Singapore shares fell for the sixth time in seven sessions, hurt by losses in the financial and telecom sectors.
Singapore Telecommunications was 1.2% lower, while lender United Overseas Bank lost 0.9%.
Telecom and banking stocks weighed on the Malaysian index.
Telecom company Axiata Group declined 1.2%, while lender CIMB Group Holdings fell 0.8%.
Vietnam shares closed at their lowest level since the end of June, dragged by consumer and banking stocks, while losses in the consumer sector drove down the Philippine index.

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