(Corrects the values in the 3rd column of the second table to show end 2019 figures, not end 2018, and the values for the percentage changes in 4th column in the second table.) * Philippine index hits lowest since Dec. 20, 2019 * Singapore rises as Q4 GDP growth picks up * U.S. President Trump's remarks buoy equities By Shruti Sonal Jan 2 (Reuters) - Philippine shares slumped over 2% to their lowest in about two weeks on utilities and industrials, while most other Southeast Asian stock markets started the new year in the green amid Sino-U.S. trade deal progress. The Philippine index extended losses for the third straight session, on their first trading day since Dec. 27, 2019. "Foreign outflows continue to put pressure on the market, and we may see no respite just yet until the issues on the water concessionaires' contracts are clarified", an AP Securities note said. Utilities and industrials have been strained since Philippines' water regulator cancelled the extension of concession deals with the country's two largest utilities Manila Water Co Inc and Maynilad Water Services after pressure from President Rodrigo Duterte. DMCI Holdings and Metro Pacific Investments Corp , major shareholders of Maynilad Water Services, slumped as much as 6.8% and 8.1%, respectively. Meanwhile, most other markets in the region gained on their first trading day of 2020, buoyed by easing Sino-U.S. trade tensions and positive policy thrust from China. U.S. President Donald Trump said on Tuesday that Phase 1 of trade deal with China would be signed on Jan. 15 at the White House, though considerable confusion remains about the details of the agreement. News of monetary policy easing by China, the region's top trade partner, also aided sentiment after the country's central bank on Wednesday cut the amount of cash that banks must hold as reserves to boost the economy. Amid the trade deal cheer and Beijing's policy thrust "market is set to start 2020 on a solid footing", said Zhu Huani, analyst at Mizuho Bank in a note. Trade-sensitive Singapore shares rose as its fourth quarter GDP data came in line with expectations firmed expectations for a modest recovery in 2020. Thai and Malaysian stocks gained over 0.4% each, while Indonesian equities edged lower. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3235.55 3222.83 0.39 Bangkok 1587.83 1579.84 0.51 Manila 7643.98 7815.26 -2.19 Jakarta 6283.573 6299.539 -0.25 Kuala Lumpur 1595.5 1588.76 0.42 Ho Chi Minh 961.73 960.99 0.08 Change so far in 2020 Market Current End 2019 Pct Move Singapore 3235.55 3222.83 0.39 Bangkok 1587.83 1579.84 0.51 Manila 7643.98 7815.26 -2.19 Jakarta 6283.573 6299.539 -0.25 Kuala Lumpur 1595.5 1588.76 0.42 Ho Chi Minh 961.73 960.99 0.08 (Reporting by Shruti Sonal; Editing by Shailesh Kuber)
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