February 8, 2019 / 10:02 AM / 5 months ago

SE Asia Stocks-Most end lower as trade talks hit new bump on Trump's remarks

    * Philippines, Indonesia post first weekly loss of 2019
    * Indonesia snaps six straight weekly gain rally

    By Shreya Mariam Job
    Feb 8 (Reuters) - Most Southeast Asian stock markets closed
lower on Friday, with Malaysia leading losses, as investors were
rattled after the United States dismissed the likelihood of a
quick resolution to the long drawn Sino-U.S. trade war.  
    U.S. President Donald Trump on Thursday said he would not be
meeting China's Xi Jinping before the March 1 deadline, sparking
fears that two economies would not be able to clinch a pivotal
trade deal.
    The negative sentiment dampened regional markets and pushed
broader Asian shares lower, though trading remained thin as
China was closed for Lunar New Year holidays. 
    The Malaysian index ended 0.4 percent lower, falling
the most across the region.  
    Index heavyweight Axiata Group Bhd fell 4.4
percent to an over two-month low, dragging the benchmark.    
    According to local media reports Axiata Group and its unit
Ncell are to foot a tax bill of 61 billion Nepalese rupees 
($536.03 million), excluding late fees and fines for the capital
gains tax on Ncell buyout deal following a Supreme Court ruling.

    Philippine stocks fell 0.4 percent, hurt by losses in
financial and telecom stocks. For the week the Manila benchmark
index dropped 0.9 percent, marking its first weekly loss in
    PLDT Inc dropped 3.4 percent, while shares of Bank
of the Philippine Islands slid 1.4 percent. 
    The Indonesian benchmark closed down 0.2 percent,
with material and energy stocks leading declines. The index
marked its first weekly loss in the new year, snapping a rally
of six weeks.
    Charoen Pokphand Indonesia Tbk PT dropped 1.9
percent, while United Tractors Tbk PT slipped 2.9
    Vietnam's financial markets remained closed this week for
Lunar New Year holidays.

For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3202.04   3200.64         0.04
 Bangkok                1651.68   1653.11         -0.09
 Manila                 8070.89   8100.3          -0.36
 Jakarta                6521.663  6536.457        -0.23
 Kuala Lumpur           1686.52   1693.39         -0.41
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3202.04   3068.76         4.34
 Bangkok                1651.68   1563.88         5.61
 Manila                 8070.89   7,466.02        8.10
 Jakarta                6521.663  6,194.50        5.28
 Kuala Lumpur           1686.52   1690.58         -0.24

($1 = 113.8000 Nepalese rupees)

 (Reporting by Shreya Mariam Job in Bengaluru; Editing by xxxx)
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