Most Southeast Asian stock markets ended lower on Friday, tracking broader Asia and Wall Street, as worries escalated over US President Donald Trump's ability to push through his economic agenda. The exodus of executives from two prominent business councils, protesting Trump's remarks on white nationalists, and his abandoning of plans to create an infrastructure advisory council have underscored concerns about the administration's economic goals including tax cuts and infrastructure spending.
Sentiment also took a hit after a van mowed through crowds of tourists in Barcelona on Thursday, killing at least 13 people. In Southeast Asia, Singapore extended losses to a fourth day, ending the week 0.9 percent lower. Financials weighed, with Oversea-Chinese Banking Corp down 1.3 percent, while Singapore Exchange fell 1.9 percent.
Philippine shares fell 0.7 percent, hurt by industrials and real estate, but the index gained 1.1 percent this week. JG Summit and Robinsons Land fell 2.8 percent each in the session. Thai stocks fell 0.2 percent as consumer discretionary stocks and industrials lost ground. The index edged up 0.3 percent this week.
Malaysian shares ended flat as the gains in consumer staples were offset by losses in materials, despite data showing that the economy grew at a faster-than-expected pace in the second quarter. The index gained 0.5 percent on the week. Bucking the trend, Vietnam ended 0.2 percent higher, led by financials, but shed 0.4 percent this week. Indonesian shares ended flat, but still managed to outperform other markets in the region with a 2.5 percent weekly gain.
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