September 23, 2019 / 4:17 AM / 8 months ago

SE Asia Stocks-Most fall on trade war uncertainty; Singapore leads declines

    * Philippines poised for fifth straight day of losses
    * Singapore dips ahead of inflation data
    * Vietnam sole gainer in the region 

    By Shriya Ramakrishnan
    Sept 23 (Reuters) - Most Southeast Asian shares fell on
Monday, with Singapore taking the biggest hit, as investors
remained wary on U.S.-China trade talk progress after mixed
signals from ongoing negotiations. 
    Both the United States and China described their talks as
"productive" and "constructive", with the U.S. Trade
Representative's office adding that high-level negotiations will
take place in October, as previously planned.
    However, sentiment was dampened after Chinese officials
unexpectedly cancelled a visit to U.S. farm states and President
Donald Trump reiterated that he favoured a complete trade deal
with China. 
    "A China-U.S. trade deal in October is still considered
possible but improbable. There are no concrete signs that the
U.S. is ready for an interim trade deal that would lead to a
tariff truce," according to a DBS Bank note. 
    Leading declines in the region, Singapore's benchmark index
 dipped 0.4%, ahead of key inflation data release. 
    Consumer and financial stocks dragged the index, with shares
of heavyweights DBS Group Holdings Ltd and Capitaland
Ltd falling between 0.3% and 0.9%.
    A Reuters poll expects the city-state's core inflation
figures for August to remain unchanged from July, when inflation
eased to its slowest pace in more than three years, prompting
authorities to downgrade their full-year forecast amid firming
bets for monetary policy easing.
    Philippine's index dropped 0.4% and were on track to
extend losses for a fifth straight session, dragged by
industrial and utility stocks. 
    Power generation firm Aboitiz Power Corp and GT
Capital Holdings Inc shed as much as 2.4% each. 
    Bangko Sentral ng Pilipinas is set to review its policy
later this week. Governor Benjamin Diokno has flagged a further
quarter-point interest rate reduction before the end of 2019 to
shore up economic growth and said inflation forecast for
September will guide its policy decision.    
    Thai stocks shed about 0.4%, touching their lowest
level in nearly four weeks, dragged by losses in the telecom and
energy sector.    
    Oil and gas firm PTT PCL and mobile operator
Advanced Info Service Pcl fell 0.6% and 1.8%,
    Bucking the trend, Vietnam's benchmark index, which
has outperformed most of its peers by a vast margin so far this
year, gained 0.2%, lifted by consumer and energy stocks. 
For Asian Companies click;  

 STOCK MARKETS                                              
 Change on the day                                          
 Market                 Current   Previous close  Pct Move  
 Singapore              3147.28   3159.68         -0.39     
 Bangkok                1630.18   1636.2          -0.37     
 Manila                 7842.51   7871.11         -0.36     
 Jakarta                6219.616  6231.473        -0.19     
 Kuala Lumpur           1592.23   1597.41         -0.32     
 Ho Chi Minh            992       990.36          0.17      
 Change so far in 2019                                      
 Market                 Current   End 2018        Pct Move  
 Singapore              3147.28   3068.76         2.56      
 Bangkok                1630.18   1563.88         4.24      
 Manila                 7842.51   7,466.02        5.04      
 Jakarta                6219.616  6,194.50        0.41      
 Kuala Lumpur           1592.23   1690.58         -5.82     
 Ho Chi Minh            992       892.54          11.14     

 (Reporting by Shriya Ramakrishnan in Bengaluru ; Editing by
Rashmi Aich)
Nuestros Estándares:Los principios Thomson Reuters
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