November 5, 2018 / 4:18 AM / 8 days ago

SE Asia Stocks-Most fall as U.S.-China trade deal outlook dims

    * Singapore shares slump nearly 2 pct
    * Philippine stocks climb as trading resumes after holiday
    * Expectations of Fed rate hike in December also weigh

    By Nikhil Subba
    Nov 5 (Reuters) - Most Southeast Asian stock markets fell on
Monday, hit by worries that a U.S.-China trade deal may not be
imminent, while Philippine shares climbed as trading resumed
after a two-day holiday.  
    Market anxiety over trade ties between the world's two
largest economies was rekindled by the White House's top
economic adviser, Larry Kudlow, who said on Friday that
Washington and China were not close to a deal to resolve their
trade differences.
    Kudlow said on CNBC television that U.S. President Donald
Trump, contrary to a report by Bloomberg, has not asked his
cabinet to draw up terms of a China trade deal as he prepares to
meet at the end of this month with Chinese President Xi Jinping.
    In addition, solid U.S. jobs growth data for October,
released on Friday, further boosted expectations that the U.S.
Federal Reserve will raise interest rates in December, dampening
investor sentiment across Asia. 
    "In the near term, market will closely eye on the Trump-Xi
meeting during the G20 summit," said OCBC in a note to clients. 
    Singapore shares tumbled as much as 1.9 percent with
lender DBS Group Holdings down 2.6 percent after
posting a third-quarter profit that nearly matched estimates.

    Thai shares were down as much as 0.9 pct as the
country's energy sector came under pressure after oil prices
fell on Monday, as the impact of U.S. sanctions against Iran's
fuel exports was softened by waivers to several countries.
 
    Malaysian stocks fell as much as 0.8 percent after
the new Mahathir Mohamad-led government forecast this year's
fiscal deficit to be highest in five years, running the risk of
a possible credit rating downgrade.
    The previous administration of Najib Razak had reduced
fiscal deficit for eight straight years to 2017. 
    Indonesian shares were little changed ahead of the
country's third-quarter growth data.
    Philippine stocks rose as much as 1.4 percent, led by
gains in financials. The market was shut on Thursday and Friday
on account of public holidays.  
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0411 GMT
   
  Market           Current       Previous close  Pct Move
  Singapore        3058.73       3116.39         -1.85
  Bangkok          1668.16       1681.84         -0.81
  Manila           7226.21       7140.29         1.20
  Jakarta          5900.756      5906.292        -0.09
  Kuala Lumpur     1707.23       1713.87         -0.39
  Ho Chi Minh      919.03        924.86          -0.63
                                                 
  Change on year                                 
  Market           Current       End 2017        Pct Move
  Singapore        3058.73       3402.92         -10.11
  Bangkok          1668.16       1753.71         -4.88
  Manila           7226.21       8558.42         -15.57
  Jakarta          5900.756      6355.654        -7.16
  Kuala Lumpur     1707.23       1796.81         -4.99
  Ho Chi Minh      919.03        984.24          -6.63
 
 (Reporting by Nikhil Subba; Editing by Amrutha Gayathri)
  
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