November 15, 2019 / 4:38 AM / 24 days ago

SE Asia Stocks-Tepid after raft of weak data, trade-deal hopes limit losses

    * Singtel posts first ever qtrly loss, shares drop
    * Malaysia Q3 GDP in line with expectations
    * Philippines on track to snap five weekly gains

    By Anushka Trivedi
    Nov 15 (Reuters) - Southeast Asian stock markets were tepid
on Friday, as a raft of lacklustre data from leading economies
left investors skittish, while renewed hopes of a Sino-U.S.
trade deal limited sharp declines, with Indonesia seeing its
best day in near two weeks.
    The weakness in China's economy reflected an impact from the
prolonged tariff dispute to global economic growth. 
    Data released on Thursday showed that factory output growth
in China, Southeast Asia's biggest trading partner, had slowed
significantly more than expected in October. The German economy
narrowly avoided an expected slip into recession, while Japan's
economy came to a near standstill.

    However, positive cues on the trade war front helped cushion
the blow as markets worldwide took heart from White House
economic adviser Larry Kudlow assuring that Washington and
Beijing were inching closer to an agreement after holding
constructive talks.
    "The dismal figures are yet another reminder to markets
about the sheer importance of a U.S.-China trade deal to the
global economic outlook. That deal is essential to reviving
hopes of a global economic recovery," Han Tan, market analyst at
FXTM said in a note.    
    The Jakarta index tacked on 0.6% after October trade
data implied that Indonesian exports declined at a
slower-than-expected pace, with the country logging in a trade
surplus of $161.3 million.
    Financials led gains in the region, with Bank Rakyat
Indonesia (Persero) Tbk PT and Bank Mandiri (Persero)
Tbk PT adding 3.1% and 1.8%, respectively.    
    Singapore's benchmark was mostly flat as gains in the
industrial sector were offset by a sharp decline in telco
stocks, with heavyweight Singapore Telecommunications Ltd
(Singtel) dropping 3.3%. 
    The telcom company's stock value depleted by over $1 billion
following its disappointing quarterly results.
    The Straits Times Index is on track to shed 0.9% this week.
    Malaysian stocks were largely unchanged after data
showed its economy grew by 4.4% in the third-quarter from a year
earlier, slowest in a year but in line with expectations. The
index is poised to mark a 1% weekly loss.
    The Philippine's main index ticked an edge lower, set
to snap five weekly gains, after the central bank stood pat on
interest rates, citing firm economic growth in the third quarter
and on expectations the trend will continue.
    The biggest drag in the benchmark, electricity retailer
Aboitiz Equity Ventures extended declines to its worst
drop in over a month.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0429 GMT    
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3235.08   3231.85         0.10
 Bangkok                1607.3    1609.47         -0.13
 Manila                 7920.13   7933.71         -0.17
 Jakarta                6134.059  6098.95         0.58
 Kuala Lumpur           1593.75   1593.55         0.01
 Ho Chi Minh            1013.7    1012.3          0.14
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3235.08   3068.76         5.42
 Bangkok                1607.3    1563.88         2.78
 Manila                 7920.13   7,466.02        6.08
 Jakarta                6134.059  6,194.50        -0.98
 Kuala Lumpur           1593.75   1690.58         -5.73
 Ho Chi Minh            1013.7    892.54          13.57
 
 (Reporting by Anushka Trivedi in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
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