January 28, 2019 / 10:36 AM / 6 months ago

SE Asia Stocks-Philippine shares shed early gains; most others subdued

    * 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
of talks.
    "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)
  
Nuestros Estándares:Los principios Thomson Reuters
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