November 8, 2019 / 10:15 AM / 11 days ago

SE Asia Stocks-Most fall as Sino-U.S. trade deal uncertainty looms

    * Singapore top loser, falls most in one month
    * Indonesia rises as central bank sees improved Q4 GDP 
    * Philippines rises for fifth consecutive week

    By Sameer Manekar
    Nov 8 (Reuters) - Most Southeast Asian markets closed lower
on Friday, as a report on internal opposition in Washington to
tariff rollback on Chinese goods trumped optimism over the
possibility of an interim Sino-U.S. trade deal.
    On Thursday, a Reuters exclusive report cited sources saying
the agreement between the two sides to roll back tariffs as a
part of a "phase one" trade deal faced opposition in the White
House.
    There is a divide within the administration over whether
rolling back tariffs will give away U.S. leverage in the
negotiations, the sources said.
    "It will be a while before all the tariffs go down ... there
are a lot of things that could happen moving forward. Investors
are worried, since we know that Trump is very fickle in terms of
tariffs policies," said Rachelle Cruz, an analyst at AP
Securities.
    Singapore's benchmark index closed 0.7% lower,
posting its worst session in one month.
    The city-state, which relies heavily on electronics
shipments for economic growth, is sensitive to the trade
disruptions caused by tariffs between the United States and
China.
    Financial and industrial firms were the biggest drags, with
heavyweight Jardine Matheson Holdings losing 2.4%, and
Ascendas Real Estate Investment Trust shedding 7.4%.
    The index, however, posted a fifth consecutive weekly gain.
    The Philippine bourse trimmed its losses from earlier
in the session to finish 0.1% lower.
    DMCI Holdings and Alliance Global Group
fell 5.2% and 6%, respectively, after MSCI deleted the two
stocks from its global standard indexes as a part of a quarterly
index review bit.ly/2NtSXQf.
    "The decline in the index mostly reflects the decrease in
the weight of the Philippines in MSCI emerging markets," Cruz
said.
    Malaysia's benchmark index inched up to close at
over two-month high. 
    Bank stocks rose following an unexpected cut by the central
bank of its statutory reserve requirement, to "maintain
sufficient liquidity".
    CIMB Group Holdings and Public Bank
gained 1.9% and 0.4%, respectively.
    Indonesian shares ended 0.2% higher, having traded
subdued for most parts of the session. The archipelago's central
bank forecast an improvement in the country's exports and GDP
growth in the fourth quarter.
    Coal miner United Tractors added 5.6%, while
instant noodles maker Indofood CBP Sukses Makmur
advanced 4.4%.
    Thai stocks edged lower, with biggest stock on the
index PTT PCL closing 1.1% down.
     
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Market                 Current   Previous close  Pct Move
 Singapore              3264.3    3285.72         -0.65
 Bangkok                1637.85   1640.88         -0.18
 Manila                 8065.76   8073.81         -0.10
 Jakarta                6177.986  6165.624        0.20
 Kuala Lumpur           1609.73   1609.33         0.02
 Ho Chi Minh            1022.49   1024.03         -0.15
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3264.3    3068.76         6.37
 Bangkok                1637.85   1563.88         4.73
 Manila                 8065.76   7,466.02        8.03
 Jakarta                6177.986  6,194.50        -0.27
 Kuala Lumpur           1609.73   1690.58         -4.78
 Ho Chi Minh            1022.49   892.54          14.56
 
 (Reporting by Sameer Manekar in Bengaluru; editing by
Uttaresh.V)
  
Nuestros Estándares:Los principios Thomson Reuters
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