* Singapore up for fifth straight session
* Thailand down after four days of gains
* New round of Sino-U.S. talks awaited
By Shreya Mariam Job
April 3 (Reuters) - Most Southeast Asian stock markets fell
on Wednesday after the World Trade Organization cut its 2019
trade growth estimate and the Asian Development Bank trimmed its
regional economic growth forecast, while Singapore shares jumped
nearly 1 percent to a near eight-month high.
World trade shrank by 0.3 percent in the fourth quarter of
2018 and is likely to grow by 2.6 percent this year, below a
previous forecast of 3.7 percent, the World Trade Organization
said on Tuesday.
The Asian Development Bank cut its growth forecast for
Southeast Asia this year to 4.9 percent from 5.1 percent, as the
Manila-based lender expects Malaysia, Singapore, Philippines and
Thailand to grow slower than previously thought.
Meanwhile, optimism stemming from positive U.S. and China
manufacturing activity data wore off as investors took a
wait-and-see stance ahead of a new round of Sino-U.S. trade
White House economic adviser Larry Kudlow said the United
States and China "expect to make more headway" in trade talks
"For today, expect Asian markets to trade with a mixed tone,
after US markets were rather flattish yesterday and they also
await further updates on US-China trade talks," OCBC Bank said
Singapore stocks extended gains into a fifth session
on the back of financials. DBS Holdings Group Ltd
gained 2.3 percent, while Oversea-Chinese Banking Corp Ltd
firmed 1.7 percent.
Malaysian shares rose for a second straight session,
driven by financial and healthcare stocks. Public Bank Bhd
climbed 1.3 percent and IHH Healthcare Bhd
gained 2.6 percent.
Meanwhile, Thai shares fell after four straight
sessions of gains, hurt by telecom and real estate stocks.
Vietnam stocks slipped with losses concentrated in
the financial and real estate sectors.
Vinhomes JSC and Vietnam Joint Stock Commercial
Bank for Industry and Trade dipped 0.3 percent and 0.4
The Indonesian stock market was closed for a
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SOUTHEAST ASIAN STOCK MARKETS As at 0406 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3306.15 3279.78 0.80
Bangkok 1649.19 1651.48 -0.14
Manila 7868.7 7879.21 -0.13
Kuala Lumpur 1641.67 1632.83 0.54
Ho Chi Minh 984.35 985.81 -0.15
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3306.15 3068.76 7.74
Bangkok 1649.19 1563.88 5.46
Manila 7868.7 7,466.02 5.39
Kuala Lumpur 1641.67 1690.58 -2.89
Ho Chi Minh 984.35 892.54 10.29
(Reporting by Shreya Mariam Job in Bengaluru; Editing by