January 10, 2020 / 10:31 AM / 11 days ago

SE Asia Stocks-Most edge higher on caution ahead of U.S. non-farm payroll data

    * Philippine Nov exports down 0.7% y/y
    * Malaysia Nov industrial production index up 2% y/y
    * Singapore posts third straight weekly gain

    By Sameer Manekar
    Jan 10 (Reuters) - Most Southeast Asian stock markets ended
a turbulent week in largely positive territory on Friday as
investors turned their attention toward economic data from the
United States, while Philippines fell on bleak trade print in
November.    
    U.S. non-farm payrolls in December, expected later in the
day, are likely to increase by 164,000, according to a Reuters
survey, compared with a surge of 266,000 in the previous month.

    The data comes ahead of the anticipated signing of a Phase 1
trade deal between the United States and China on Jan. 15, with
investors hoping this could ease tensions between the world's
two largest economies that has hampered global growth.
    "With U.S. economic growth mostly dependent on the consumer,
a healthy labor market is crucial to any constructive "risk-on"
narrative," said Stephen Innes, a market strategist at
AxiTrader.
    Malaysia's benchmark index ended the week 1.2%
lower, after posting five straight weekly gains.
    Industrial production index rose 2% in November from a year
earlier, while palm oil production in Malaysia, the world's
second-largest palm producer, fell 13% on-month in December, its
lowest since June 2018.
    Telecom and utility firms dragged the index, with Axiata
Group losing 1.9%, while Petronas Gas fell
0.9%.
    The Philippine bourse trimmed most of its losses from
earlier in the session to end 0.3% lower.
    Data showed the country's trade deficit widening to $3.34
billion in November from previous month's deficit of $3.25
billion, with the exports falling 0.7% from last year.

    Ayala Land shed 1.4%, while industrial conglomerate
JG Summit Holdings led declines in the industrial
sector, losing 2.8%.
    Vietnam stocks ended at a six-week high, lifted by
major gains in financial sector. Vietnam JSC Bank for Industry
and Trade and Bank for Investment and Development of
Vietnam gained 4.9% and 3.3%, respectively.
    Singapore shares closed at a near two-month high, and
posted a third consecutive weekly gain.
    Gains in the financial sector kept the index in positive
territory on Friday, with heavyweight DBS Group Holdings
 rising 0.5%, while Singapore Telecommunications
 fell 1.2%, weighing on the benchmark.
    Thai stocks ended the week 0.9% lower, while
Indonesian shares posted their worst weekly fall in six
weeks.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Market                 Current   Previous close  Pct Move
 Singapore              3255.95   3247.48         0.26
 Bangkok                1580.63   1579.64         0.06
 Manila                 7776.77   7797.64         -0.27
 Jakarta                6274.941  6274.493        0.01
 Kuala Lumpur           1591.46   1595.65         -0.26
 Ho Chi Minh            968.54    960.15          0.87
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              3255.95   3222.83         1.03
 Bangkok                1580.63   1579.84         0.05
 Manila                 7776.77   7,815.26        -0.49
 Jakarta                6274.941  6,299.54        -0.39
 Kuala Lumpur           1591.46   1588.76         0.17
 Ho Chi Minh            968.54    960.99          0.79
 
 (Reporting by Sameer Manekar in Bengaluru; Editing by Rashmi
Aich)
  
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