June 24, 2019 / 3:51 AM / a month ago

SE Asia Stocks-Most subdued ahead of regional trade, inflation data

    * Singapore set to snap four sessions of gains
    * Philippine index on track for fifth straight gain
    * Indonesia trade, Singapore inflation data awaited

    By Shreya Mariam Job
    June 24 (Reuters) - Most Southeast Asian stock markets were
subdued on Monday as investors awaited economic data from
Singapore and Indonesia and further developments in the
Sino-U.S. trade talks, while U.S.-Iran tensions also weighed on
the sentiment.
    Stock markets in the region saw lacklustre trade, also ahead
of an expected meeting between U.S. President Donald Trump and
his Chinese counterpart Xi Jinping on the sidelines of the G20
summit in Japan this week, scouring for signs of a thaw in a
prolonged and damaging trade war.
    "While the best case scenario appears to be a China-U.S.
trade truce, the binary outcome (deal or no deal) makes it
difficult for market participants to price-in risk
sufficiently," DBS said in a note to clients.
    Singapore's inflation figures and Indonesia's trade data for
May, set to be released later in the day, has curbed risk
sentiment among investors who intend to assess the actual impact
of escalated tensions between Washington and Beijing on the
regional economies.
    Oil prices held firm near three-week highs hit last week
after the United States and Iran came to the brink of war
following Iran's shooting down of an unmanned U.S. surveillance
drone.
    Singapore stocks dropped 0.3% ahead of inflation
data, with industrials and financials weighing on the index. The
index is on track to snap four straight sessions of gains.     
    Singapore's headline inflation likely eased in May for the
first time in four months as economic growth slowed, a Reuters
poll showed on Friday.
    Jardine Matheson Holdings Ltd and United Overseas
Bank Ltd dropped more than 1% each during the session.
    Indonesian stocks traded sideways ahead of the
release of trade data.
    Indonesia's trade deficit is expected to have narrowed in
May, following the biggest trade deficit in the country's
history in April, a Reuters poll showed.    
    Malaysian stocks dropped 0.4%, dragged by telecom
stocks.
    Shares of Axiata Group Bhd and Maxis Bhd
shed 1.8% and 1.4%, respectively.
    The Philippine index rose 0.2% and was set for its
fifth consecutive session of gain, boosted by real estate
stocks.
    Ayala Land Inc gained as much as 2.1% rising to a
near three week high, while SM Prime Holdings Inc
gained 1.2%.
    
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SOUTHEAST ASIAN STOCK MARKETS As at 0340 GMT
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3311.03   3321.4          -0.31
 Bangkok                1716.92   1717.14         -0.01
 Manila                 8074.79   8055.47         0.24
 Jakarta                6311.652  6315.436        -0.06
 Kuala Lumpur           1675.95   1682.23         -0.37
 Ho Chi Minh            961.41    959.2           0.23
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3311.03   3068.76         7.89
 Bangkok                1716.92   1563.88         9.79
 Manila                 8074.79   7,466.02        8.15
 Jakarta                6311.652  6,194.50        1.89
 Kuala Lumpur           1675.95   1690.58         -0.87
 Ho Chi Minh            961.41    892.54          7.72
 

 (Reporting by Shreya Mariam Job in Bengaluru; editing by
Gopakumar Warrier)
  
Nuestros Estándares:Los principios Thomson Reuters
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