SE Asia Stocks-Malaysia, Indonesia lead losses; Trump-Xi meeting in spotlight
* Malaysia posts fourth straight weekly decline
* Indonesia logs biggest monthly gain since Jan
By Shreya Mariam Job
Nov 30 (Reuters) - Malaysian and Indonesian shares led
losses on Friday amid caution ahead a high-stakes meeting
between leaders of China and the United States, while Thai
stocks rose on higher oil prices.
U.S. President Donald Trump and his Chinese counterpart Xi
Jinping are expected to discuss trade on the sidelines of the
G20 summit in Argentina on Saturday, where trade tariffs are
expected to dominate the agenda.
However, Trump sent mixed signals on Thursday about the
trade deal, saying an agreement was close but he was not sure he
wanted one, just as he left for Argentina for a meeting with
President Xi.
Meanwhile, China's manufacturing sector stalled for the
first time in over two years in November, adding to investor
jitters before the pivotal meeting.
China is the top trade partner of most Southeast Asian
countries.
Malaysian shares were the biggest losers in
Southeast Asia with a drop of 1 percent, dragged by consumer
non-cyclicals and industrials.
Axiata Group Bhd dipped 4 percent, while Sime
Darby Plantation Bhd slid 5.4 percent.
For the week, Malaysian shares declined about 1 percent in
their fourth straight weekly drop.
Indonesian shares closed 0.8 percent lower, marking
their third session of declines in four.
Financial and material stocks were among the top losers,
with United Tractors Tbk PT declining 6.3 percent and
Indah Kiat Pulp & Paper Tbk PT shedding 10.3 percent.
For the month, Indonesian shares gained 3.9 percent, their
sharpest since January.
Meanwhile, Thai stocks closed higher for a fifth
session in six, driven by energy stocks on stronger oil prices.
Brent oil prices firmed on expectations that OPEC and Russia
will agree some form of production cut next week.
Industry heavyweight PTT Exploration and Production PCL
climbed 2.3 percent, while Siam Commercial Bank PCL
rose 1.8 percent.
Singapore stocks extended gains into a third session,
helped by industrial and telecommunication services stocks.
Jardine Strategic Holdings Ltd gained 4.1 percent and
Golden Agri-Resources Ltd rose 6.5 percent.
The Philippine stock market was closed for a holiday.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3117.61 3109.44 0.26
Bangkok 1641.8 1636.49 0.32
Jakarta 6056.124 6107.168 -0.84
Kuala Lumpur 1679.86 1696.34 -0.97
Ho Chi Minh 926.54 926.79 -0.03
Change on year
Market Current End prev yr Pct Move
Singapore 3117.61 3402.92 -8.38
Bangkok 1641.8 1753.71 -6.38
Jakarta 6056.124 6,355.65 -4.71
Kuala Lumpur 1679.86 1796.81 -6.51
Ho Chi Minh 926.54 984.24 -5.86
(Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)
