October 1, 2018 / 10:37 AM / 8 months ago

SE Asia Stocks-Most down; Philippine shares fall on inflation concerns

    * Philippine index ends 0.8 pct lower
    * Indonesia down on consumer staples
    * China factory survey weighs

    By Niyati Shetty
    Oct 1 (Reuters) - Philippine shares ended lower on Monday on
caution ahead of inflation data due later in the week, while
most other Southeast Asian stock markets dropped after a survey
showed manufacturing activity in China slowed and export orders
fell the sharpest in more than two years.
    China's factory sector stalled after 15 months of expansion
and export orders took a hit, according to a private survey, in
a worrying sign that the trade war with the U.S. was taking its
toll on the country's economy.  
    Overall, trading in the region was lean due to holidays in
Mainland China and Hong Kong.
    Meanwhile, United States' negotiations with Canada ended on
a positive note, with the countries forging a deal to salvage
the North American Free Trade Agreement (NAFTA) deal as a
trilateral pact with Mexico.
    However, concerns over the Sino-U.S. trade dispute continued
to weigh on risk appetite in Southeast Asia. 
    Investors expect that the NAFTA deal will improve the
trading climate, said Manny Cruz, an analyst with Asiasec
Equities Inc.
    In the region, Philippine shares closed lower ahead
of inflation data due at the end of the week, with conglomerates
SM Investments Corp and Ayala Corp sliding 2.7 percent
and 1.9 percent, respectively. 
    Fio Dejesus, an analyst with Manila-based RCBC Securities,
said inflation data, which by consensus estimates is expected to
be higher than last month’s figure, could prompt another rate
hike by the central bank and that may hurt real economic growth
apart from increasing companies' interest outgo. 
    The country's central bank raised interest rates for a
fourth time in five months last week and kept the door open for
further tightening as it battles inflation. 
    Indonesian shares closed 0.5 lower, weighed down by
the consumer staples sector. 
    Among the top drags to the index, Unilever Indonesia Tbk
 slid 1.5 percent and food retailer Sumber Alfaria
Trijaya Tbk declined 9.7 percent. 
    Earlier in the day, data showed Indonesia's September
inflation cooled to the lowest in over two years.
    Thai shares bucked the trend by posting marginal gains,
helped by the energy and materials sectors. Oil & gas major PTT
Exploration and Production was the top performer on
the index with a 3.2 percent gain.

For Asian Companies click;  

 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3255.46   3257.05         -0.05
 Bangkok            1760.47   1756.41         0.23
 Manila             7222.08   7276.82         -0.75
 Jakarta            5944.601  5976.553        -0.53
 Kuala Lumpur       1792.46   1793.15         -0.04
 Ho Chi Minh        1012.88   1017.13         -0.42
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3255.46   3402.92         -4.33
 Bangkok            1760.47   1753.71         0.39
 Manila             7222.08   8558.42         -15.61
 Jakarta            5944.601  6355.654        -6.47
 Kuala Lumpur       1792.46   1796.81         -0.24
 Ho Chi Minh        1012.88   984.24          2.91
 (Reporting by Niyati Shetty; Editing by Vyas Mohan)
Nuestros Estándares:Los principios Thomson Reuters
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