December 19, 2019 / 4:24 AM / a month ago

CORRECTED-SE Asia Stocks-Most markets edge lower ahead of holiday trade

 (Corrects paragraph 7 to clarify that Phoenix Petroleum
Philippines is not a PSI index heavyweight)
    * Singapore bourse sees worst session in 9 days
    * Indonesian stocks fall ahead of cenbank meeting
    * Vietnam index sole gainer in the region

    By Shruti Sonal
    Dec 19 (Reuters) - Most Southeast Asian stock markets edged
lower on Thursday, with the Philippine index leading losses, as
investors booked profits ahead of holiday season and as a lack
of clarity over the interim Sino-U.S. deal and prospects of a
hard Brexit weighed.
    The "phase-one" trade agreement announced last week
suspended a threatened round of U.S. tariffs on a $160 billion
list of Chinese imports. However, a dearth of clarity over the
deal hampered investor optimism.
    "In any case, the markets have overbought following the
recent U.S.-China trade news flow and it's not surprising to see
some profit-taking at the end of the year," Liu Jinshu, director
of research at Tayrona Financial said.    
    Leading losses in the region, the Philippine index
reversed course to drop 0.9%, dented by financials.
    Domestic lenders have been pressured by media reports here
 suggesting that the Philippine central bank will probe about 10
banks for ties with Australia's scandal-hit Westpac Banking Corp
. 
    BDO Unibank Inc shed over 4.4% to hit its lowest
since Nov. 27, while the Bank of the Philippine Islands
extended losses for a fourth straight session.
    Phoenix Petroleum Philippines Inc, which is not a
constituent of the main board, saw its worst session since Sept.
9, after the company put on hold its plans for a $2 billion
Tanglawan LNG hub venture in Philippines with CNOOC Gas and
Power of China.
    Indonesian stocks dropped, with most of the losses
concentrated in financials, ahead of central bank policy
meeting.
    Bank Indonesia is likely to keep rates unchanged at its
final meeting of the year, though it may resume cutting rates in
2020, a Reuters poll showed.
    Shares of Bank Central Asia Tbk Pt dropped 1.9%,
while Bank Mega Tbk Pt fell 5.9%.
    Trade-sensitive Singapore bourse marked its worst
session in nine days, with information technology and telecom
sectors being the biggest drags in the index.
    The foggy details on the U.S.-China arrangements regarding
Huawei have hurt sentiment in Singapore's export-reliant
electronics sector, Vishnu Varathan, senior economist, Mizuho
Bank said.
    Index heavyweights Singapore Telecommunications
and electronics firm Venture Corp fell nearly 2% each.
    Bucking the sombre mood, the Vietnam index was the
sole gainer in the region, with financials and real estate
sectors propping the index 0.5% higher.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS As at 0420 GMT 
    
 Market                 Current  Previous close  Pct Move
 Singapore              3202     3209.54         -0.23
 Bangkok                1557.08  1563.74         -0.43
 Manila                 7663.12  7733.67         -0.91
 Jakarta                6259.06  6287.25         -0.45
 Kuala Lumpur           1594.61  1599.11         -0.28
 Ho Chi Minh            953.31   951.13           0.23
                                                 
 Change so far in 2019                           
 Market                 Current  End 2018        Pct Move
 Singapore              3202     3068.76         4.34
 Bangkok                1557.08  1563.88         -0.43
 Manila                 7663.12  7,466.02        2.64
 Jakarta                6259.06  6,194.50        1.04
 Kuala Lumpur           1594.61  1690.58         -5.68
 Ho Chi Minh            953.31   892.54          6.81
 
 (Reporting by Shruti Sonal in Bengaluru; Editing by Sherry
Jacob-Phillips)
  
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