November 20, 2019 / 4:12 AM / 25 days ago

CORRECTED-SE Asia Stocks-Slip on uncertainty over U.S.-China trade talks

 (Corrects 10th paragraph to show poll forecasted Malaysia's Oct
inflation at 1.0%, not 1.1%)
    * U.S. Senate's Hong Kong bill may strain trade talks -
analyst
    * Malaysia Oct inflation rises 1.1% y/y
    * Semirara mining ban weighs on Philippine market

    By Arundhati Dutta
    Nov 20 (Reuters) - Southeast Asian stock markets fell on
Wednesday amid fears that trade talks between Beijing and
Washington could be derailed after President Donald Trump
threatened fresh tariffs and the U.S. Senate passed a bill aimed
at protecting human rights in Hong Kong.
    Trump said on Tuesday he had a good relationship with China,
noting that Beijing was "moving along." However, he said China
would have to make a deal "I like".
    Market participants are worried about a further
deterioration in relations between the two countries after the
Senate unanimously passed a legislation to protect human rights
in Hong Kong amid a crackdown on the pro-democracy protest
movement.
    China on Wednesday condemned the move, asking the United
States to stop interfering in Hong Kong and Chinese affairs.

    "There are some concerns that it might result in no interim
trade deal between the two countries, especially since China is
really touchy about the subject," said Rachelle C Cruz, an
analyst at AP Securities.
    Philippine stocks were the top losers in the region,
dragged by Semirara Mining and Power Corp and DMCI
Holdings Inc. 
    Semirara fell as much as 13% after the coal miner was
directed by the energy department to suspend all mining
activities under a contract immediately, in relation to a
mudflow incident in October.
    DMCI, which derives around half of its earnings from
Semirara, lost nearly 7.9%.
    Malaysian equities fell, hurt by losses in large
caps like telco Axiata Group and Petronas Gas
. 
    Data showed inflation in October rose 1.1% from a year ago,
slightly higher than a 1.0% increase forecast by a Reuters poll.

    Mild inflation in recent times and sluggish economic growth
in the third quarter amid a slump in exports and mining have 
fuelled expectations of a rate cut by the central bank early
next year.
    Trade-sensitive Singapore shares dipped 0.2%, dragged
by real estate stocks. 
    Thai shares fell 0.3%, dragged by oil and gas
companies PTT Pcl and PTT Exploration and Production
 due to a fall in crude oil prices overnight.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0408 GMT
    
 Market                 Current   Previous close  Pct Move
 Singapore              3232.8    3238.87         -0.19
 Bangkok                1602.34   1607.25         -0.31
 Manila                 7880.6    7912.14         -0.40
 Jakarta                6147.061  6152.09         -0.08
 Kuala Lumpur           1598.73   1605.31         -0.41
 Ho Chi Minh            1003.59   1008.35         -0.47
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3232.8    3068.76         5.35
 Bangkok                1602.34   1563.88         2.46
 Manila                 7880.6    7,466.02        5.55
 Jakarta                6147.061  6,194.50        -0.77
 Kuala Lumpur           1598.73   1690.58         -5.43
 Ho Chi Minh            1003.59   892.54          12.44
 

 (Reporting by Arundhati Dutta; Editing by Subhranshu Sahu)
  
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