SE Asia Stocks-Most trading down after weak China data; Indonesia leads
HANOI, Nov 20 (Reuters) - Most Southeast Asian stocks fell by Thursday's mid-day break, broadly in line with Asian peers, as fresh data signalling a further loss of momentum in China's economy weighed on sentiment, with Indonesia leading the losers. Asian stocks mostly fell on Thursday after the China flash HSBC/Markit manufacturing purchasing managers' index showed factory output in the world's second-biggest economy contracted for the first time in six months. The Jakarta SE Composite index fell 1.05 percent from a seven-week closing high hit on Wednesday, led by conglomerate Astra International Tbk PT with a 3.85 percent loss and shipping company PT Trada Maritime Tbk that plunged 24.9 percent. "We cut ASII to reduce from hold," said Bahana Securities in a research note, citing low expectations of volume growth for the auto sector due to policy headwinds, lower average selling prices and margins on competition. Trada Maritime plummeted to 1,385 rupiah ($0.11) per share, the lowest since August 2013 after Indonesia's stock exchange on Thursday lifted a trading suspension imposed on the stock since June 6, when it was allegedly involved in oil smuggling. Philippine shares dropped 0.46 percent, led by conglomerate Ayala Corp that lost as much as 6.7 percent following an overnight top-up replacement at discounted price. Singapore, Malaysia and Thailand also declined, while Vietnam's benchmark VN Index bucked the trend on bargain hunting after hitting a three-week low. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0554 GMT Market Current Prev Close Pct Move TR SE Asia Index* 423.22 425.00 -0.42 Singapore 3329.22 3334.56 -0.16 Kuala Lumpur 1821.01 1824.39 -0.19 Bangkok 1574.40 1577.55 -0.20 Jakarta 5073.91 5127.93 -1.05 Manila 7235.82 7269.49 -0.46 Ho Chi Minh 592.02 588.35 +0.62 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. ($1=12,175 rupiah) (Reporting by Mai Nguyen; Editing by Biju Dwarakanath)
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