October 1, 2018 / 5:12 AM / 2 months ago

SE Asia Stocks-Subdued; Philippines extends slide

    By Niyati Shetty
    Oct 1 (Reuters) - Philippine shares extended losses on
Monday on worries of high inflation and further monetary policy
tightening, while most other Southeast Asian stock markets saw
lacklustre trading due to holidays in China including Hong Kong.
 
    Asian shares edged lower as investors watched for
developments on U.S. negotiations with Canada and Mexico over
the North American Free Trade Agreement (NAFTA) deal.

    "Improvement in trade will be a relief to sentiment in the
region," said Manny Cruz, an analyst with Asiasec Equities Inc.
He added that a NAFTA deal could improve investor sentiment over
the global trading climate, which has been hit by a continued
trade dispute between China and the United States.
    "They (investors) are hoping those isolated deals will lift
trading activities."
    Meanwhile, China's economy showed signs of weakness as the
country's manufacturing sector sputtered in September, in a
stark reminder that the U.S.-China trade disputes are having
real consequences.
    Philippine shares slumped 1.2 percent, after having
lost 0.6 percent in the previous session, after the central bank
raised its interest rates on Thursday, the fourth time in five
months.
    The central bank kept the door open for further tightening
as it battles to cool inflation, with the September inflation
data due on Friday. 
    Industrials and real estate stocks led the losses, with SM
Investments Corp falling as much as 2.6 pct and SM Prime
Holdings declining 1.8 pct.
    Indonesian shares traded marginally lower, weighed
down by consumer staples and materials. The country's September
inflation rate came in at 2.88 percent, lower than 3.05 percent
forecast by analysts in a Reuters poll. 
    
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0415 GMT
                                                       
 Market                  Current      Previous close  Pct Move
 Singapore               3265.9       3257.05         0.27
 Bangkok                 1759.88      1756.41         0.20
 Manila                  7191.2       7276.82         -1.18
 Jakarta                 5963.798     5976.553        -0.21
 Kuala Lumpur            1793.48      1793.15         0.02
 Ho Chi Minh             1020.18      1017.13         0.30
                                                       
 Change on year                                        
 Market                  Current      End 2017        Pct Move
 Singapore               3265.9       3402.92         -4.03
 Bangkok                 1759.88      1753.71         0.35
 Manila                  7191.2       8558.42         -15.98
 Jakarta                 5963.798     6355.654        -6.17
 Kuala Lumpur            1793.48      1796.81         -0.19
 Ho Chi Minh             1020.18      984.24          3.65
 
 (Reporting by Niyati Shetty; Editing by Amrutha Gayathri)
  
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