* Indonesia index falls, Thai shares edge up
* China's industrial earnings shrink in Dec
* Comprehensive U.S.-China deal will elude - analyst
By Mensholong Lepcha
Jan 28 (Reuters) - Philippine shares ended flat on Monday,
retreating from an over 10-month high hit earlier in the
session, as investors booked profits ahead of U.S.-China trade
talks and Federal Reserve meeting later this week.
Philippine shares have outperformed regional peers so
far this year, gaining about 7.9 percent, helped by cooling
inflation, a dovish Fed and hopes of an ease in the country's
central bank monetary policy.
Investors now await resolution of U.S.-China trade
negotiations as attention shifts to Chinese Vice Premier Liu
He's visit to the United States on Jan. 30-31 for the next round
"An open and constructive dialogue is expected, given
low-hanging fruits on trade deficit reduction. But a
comprehensive deal will elude," said Vishnu Varathan, Head,
Economics & Strategy at Mizuho Bank in Singapore, in a note.
Most investors are cautious and therefore "we are seeing
profit-taking activity", said Rachelle Cruz, a research analyst
at AP Securities in Manila.
The Fed is expected to leave interest rates unchanged after
raising them for a fifth time in as many quarters in December.
Markets in Singapore, Indonesia and Malaysia
fell as the region's biggest trade partner, China,
echoed signs of a slowing global economy after data showed
earnings at China's industrial firms shrank for a second
straight month in December.
Indonesian shares fell 0.4 percent, hurt by losses in
telecommunication services and financials.
Unilever Indonesia and Bank Mandiri (Persero)
were the biggest drag, falling over 2.5 percent each.
The country's index of 45 most liquid stocks fell
about 0.7 percent.
Malaysian shares slipped 0.2 percent, as Genting Bhd
lost 1 percent, while Malaysia Airports Holdings
fell 1.8 percent.
Meanwhile, Thai shares rose about 0.1 percent to
close higher for a ninth straight session.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3199.5 3202.25 -0.09
Bangkok 1625.03 1623.62 0.09
Manila 8053.92 8053.2 0.01
Jakarta 6458.712 6482.843 -0.37
Kuala Lumpur 1697.5 1701.03 -0.21
Ho Chi Minh 912.18 908.88 0.36
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3199.5 3068.76 4.26
Bangkok 1625.03 1563.88 3.91
Manila 8053.92 7,466.02 7.87
Jakarta 6458.712 6,194.50 4.27
Kuala Lumpur 1697.5 1690.58 0.41
Ho Chi Minh 912.18 892.54 2.20
(Reporting by Mensholong Lepcha; Editing by Gopakumar Warrier)