SE Asia Stocks-Most slip on growth fears; Philippines rises ahead of cenbank meet
* Philippines posts record trade deficit in October
* Singapore set to post sixth session of losses
* Malaysian shares extend declines, hover near 2-year low
By Shanima A
Dec 11 (Reuters) - Most Southeast Asian stock markets fell
on Tuesday as lacklustre data from major economies including
China and Japan have fanned worries about global economic
activity, while Philippines shares edged higher ahead of the
central bank policy meeting this week.
The equities tracked broader Asia with MSCI's broadest index
of Asia-Pacific shares outside Japan diving more
than 16 percent so far this year. It had surged 33.5 percent in
2017.
"I think it is a quiet trading day, probably because there
were a series of bad news from last week, and trade tensions
between China and the United States are still hanging over,"
said Joel Ng, analyst, Singapore-based KGI Securities.
Meanwhile, Beijing confirmed that Chinese Vice-Premier Liu
He spoke with U.S. Treasury Secretary Steven Mnuchin and trade
representative Robert Lighthizer on Tuesday, exchanging views on
pushing forward the next stage of trade talks.
Last weekend, China had reported a far weaker-than-expected
November exports and imports which hinted at a slower global and
domestic demand.
Singapore shares were on course to hit a sixth
consecutive session of declines, with losses being led by
industrials.
Shares of Jardine Matheson Holdings slipped to
their lowest in nearly three weeks and Jardine Strategic
Holdings lost as much as 2.5 percent.
Malaysian shares dropped to their weakest since Jan.
5, 2017; poised to close lower for a sixth straight session.
Shares in lenders Malayan Banking Bhd and Public
Bank Bhd hovered around a four-week low.
Indonesian shares edged down to a nearly one-week
low, as consumer staples and telecom stocks accounted for most
of the declines on the index.
Thailand shares were subdued as the trading resumed
after a public holiday on Monday. Financial and consumer sectors
were in the red with shares of Siam Commercial Bank
extending losses to a third straight session, while convenience
stores operator CP All PCL dipped 1.1 percent.
Bucking the trend, the Philippines index gained ahead
of the central bank's monetary policy meeting scheduled for
Thursday. The central bank is widely expected to keep interest
rates steady with inflation seen easing further after it slowed
to a four-month low in November, a Reuters poll showed.
The country posted a record trade deficit in October after
the imports for the month climbed 21.4 percent to $10.3 billion
outpacing the 3.3 percent growth in exports, a data
showed.
Philippines was among the top two Asian countries to receive
the highest foreign inflows of $706 million in November.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS AS AT 0442 GMT
Market Current Previous close Pct Move
Singapore 3059.69 3072.44 -0.41
Bangkok 1641.87 1649.99 -0.49
Manila 7396.14 7348.21 0.65
Jakarta 6081.058 6111.36 -0.50
Kuala Lumpur 1657.21 1663.31 -0.37
Ho Chi Minh 953.4 955.89 -0.26
Change on year
Market Current End 2017 Pct Move
Singapore 3059.69 3402.92 -10.09
Bangkok 1641.87 1753.71 -6.38
Manila 7396.14 8558.42 -13.58
Jakarta 6081.058 6355.654 -4.32
Kuala Lumpur 1657.21 1796.81 -7.77
Ho Chi Minh 953.4 984.24 -3.13
(Reporting by Shanima A in Bengaluru, Editing by Sherry
Jacob-Phillips)
