July 5, 2019 / 3:39 AM / a year ago

SE Asia Stocks-Most trade sideways ahead of U.S. payroll data, Philippines gains

    * All eyes on U.S. non-farm payrolls data
    * Philippines June inflation slows to near 2-year low
    * Philippine cenbank may cut 25bps as early as Aug - ING
    * Thailand set to snap 6 weeks of gain
    * Vietnam set to be top gainer for the week, up 2.5%

    By Rashmi Ashok
    July 5 (Reuters) - Most Southeast Asian stock markets traded
sideways on Friday, as investors adopted a cautious stance ahead
of key U.S. non-farm payroll data, while the Philippines rallied
on rising hopes of a rate cut.
    Asian markets will adopt a wait-and-watch mode, with all
eyes on the crucial U.S. non-farm payroll report, which
investors will take as another signal on whether the U.S.
Federal Reserve would cut rates, ING said in a note. 
    Data on U.S. non-farm payrolls is due later at 1230 GMT. As
risk sentiment took a breather, trading volumes of most regions
stayed at just a fraction of their 30-day average. 
    Philippine stocks rallied on rising hopes of a rate
cut as early as August, after data showed the country's annual
inflation easing to a near two-year low in June, as food and
fuel costs increased at a slower pace.
    It was also the first time since December 2017 that
inflation eased below the midpoint of the central bank's 2%-4%
target this year.
    "The Bangko Sentral ng Pilipinas (BSP) Governor Diokono has
hinted at further rate cuts on the back of falling inflation.
Falling inflation and persistent downside growth risks should
move the BSP for another 25bp rate cut as early as August," read
ING's note.
    The index was boosted by strong gains notched by heavyweight
stocks SM Investments Corp and Ayala Land. 
    Thai stocks traded flat, after a sharp drop in the
previous session. Despite the day's gains, the index is set to
post a weekly loss of about 0.2% and snap six straight weeks of
    Malaysian stocks slipped, dragged by large-caps such
as Tenaga Nasional and Axiata Group, which
fell 2.1% and 1.3%, respectively.
    Singapore stocks were trading flat, but set to clock
five straight winning weeks. Indonesia's index was also
unmoved on the day, but poised for a six-week winning streak.
    Meanwhile, Vietnam's index is set to be the best
performer for the week, up about 2.5%.
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 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3369.55   3372.25         -0.08
 Bangkok                1726.28   1724.37         0.11
 Manila                 8110.7    8064.92         0.57
 Jakarta                6376.092  6375.967        0.00
 Kuala Lumpur           1682.25   1687.48         -0.31
 Ho Chi Minh            974.13    973.04          0.11
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3369.55   3068.76         9.80
 Bangkok                1726.28   1563.88         10.38
 Manila                 8110.7    7,466.02        8.63
 Jakarta                6376.092  6,194.50        2.93
 Kuala Lumpur           1682.25   1690.58         -0.49
 Ho Chi Minh            974.13    892.54          9.14

 (Reporting by Rashmi Ashok in Bengaluru; editing by Uttaresh.V)
Nuestros Estándares:Los principios Thomson Reuters
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