February 27, 2019 / 10:27 AM / 6 months ago

SE Asia Stocks-Most fall ahead of China factory data; Philippines top loser

    * Singapore stocks reverse course to end lower
    * Malaysia closes lower for 2nd straight day

    By Shriya Ramakrishnan
    Feb 27 (Reuters) - Most Southeast Asian stock markets fell
on Wednesday, a day ahead of the release of China's February
manufacturing data as investors worried of a further slowdown in
the world's second-largest economy.
    Factory activity in Asia's economic giant is expected to
have contracted for the third month in a row in February, a
Reuters poll showed, adding to evidence of a further slowdown in
the economy in the first quarter.     
    China is Southeast Asia's largest trading partner. 
    Philippine shares declined 1.2 percent, making them
the top losers in Southeast Asia, as investors stayed off making
risky bets until index heavyweights SM Prime Holdings
and SM Investments Corp release their corporate results.
    Markets were hit by "selective selling on heavyweight
names", and SM Investments alone accounted for 182 million pesos
in net foreign selling, said Fio Dejesus, an equity research
analyst with Manila-based RCBC Securities.
    Foreign investors sold a net 250.7 million pesos ($4.84
million) worth shares on Wednesday, according to exchange data. 
    SM Prime Holdings and SM Investments Corp, the country's two
biggest listed firms by market value, dipped 1.8 percent and 1.9
percent, respectively.
    Indonesian stocks closed 0.2 percent lower, with the
material and consumer sectors accounting for most of the losses.
    The annual inflation rate in Southeast Asia's largest
economy probably cooled for a third month in February, as food
and pump prices fell, according to a Reuters poll.
    An index of the 45 most liquid stocks in the country
 closed 0.3 percent lower.
    Singapore shares reversed course to close 0.4 percent
lower, with all sectors except industrial in negative territory.
    "Barring a quick resolution to the U.S.-China trade war,
regional manufacturing and trade activities may remain
lacklustre," OCBC Bank said in a note, referring to a slowdown
in domestic manufacturing that has sullied the island state's
economic outlook. 
    Malaysian shares declined for a second straight
session, dragged by consumer and industrial stocks. 
    Sime Darby Plantation Bhd, the world's biggest oil
palm planter by holdings, fell 2.9 percent, while Malaysia
Airport Holdings Bhd lost 2.2 percent.
    Vietnam stocks rose 0.3 percent, boosted by financial
and consumer stocks.
    U.S. President Donald Trump met Vietnam President Nguyen Phu
Trong in Hanoi on Wednesday, hours before his meeting with North
Korean leader Kim Jong Un for their second summit and
appreciated the fact that the U.S. trade deficit with the
Southeast Asian nation was coming down.

 STOCK MARKETS                                
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3250.02   3261.66         -0.36
 Bangkok            1665.27   1663.56         0.10
 Manila             7889.12   7988.16         -1.24
 Jakarta            6525.683  6540.95         -0.23
 Kuala Lumpur       1713.45   1719            -0.32
 Ho Chi Minh        990.27    987.06          0.33
 Change on year                               
 Market             Current   End 2018        Pct Move
 Singapore          3250.02   3068.76         5.91
 Bangkok            1665.27   1563.88         6.48
 Manila             7889.12   7466.02         5.67
 Jakarta            6525.683  6194.498        5.35
 Kuala Lumpur       1713.45   1690.58         1.35
 Ho Chi Minh        990.27    892.54          10.95

($1 = 51.7850 Philippine pesos)

 (Reporting by Shriya Ramakrishnan in Bengaluru; Additional
Reporting by Gaurav Dogra; Editing by Subhranshu Sahu)
Nuestros Estándares:Los principios Thomson Reuters
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