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Arundhati Dutta

SE Asia Stocks-Most climb as trade hopes, Brexit cheer lift risk sentiment

Dec 13 2019

* Philippines leads gains, up over 1% * Singapore at over 2-week high * Thailand marks best session in over a month By Arundhati Dutta Dec 13 Most Southeast Asian markets ended on a high note on Friday, as reports said the United States and China may soon diffuse their prolonged trade war, while the prospect of a swift Brexit after Boris Johnson's UK poll win also boosted risk sentiment. Washington would suspend some existing tariffs and delay fresh tariffs on Chinese goods, while Beijing would buy $50 billion in U.S. farm goods in 2020, sources familiar with the matter said. However, "after such an interminable wait and having being led to water before, I would like to see something official in writing," Jeffrey Halley, market analyst at OANDA, said in a note. Elsewhere, British Prime Minister Boris Johnson secured a landslide election victory, which would allow him to take Britain out of the European Union within weeks. Leading gains in the region, Philippine index marked its best session in over a month. Conglomerate Metro Pacific Investments Corp rose as much as 16.7% and had its best day in over a decade after its unit Metro Pacific Hospital Holdings said it plans to buy a majority stake in Santos Clinic. Thai shares had their best day in over a month. A spike in oil prices boosted the country's energy sector. Petroleum products supplier PTT Pcl posted its highest intraday percentage gain in over three months. Blue chip financial stocks pushed the Singapore benchmark to its highest level in over two weeks. United Overseas Bank and DBS Group Holdings rose 2.2% and 1.4%, respectively. Indonesian stocks advanced on financials, with PT Bank Mandiri (Persero) Tbk and PT Bank Negara Indonesia (Persero) Tbk posting significant gains. Bucking the trend, Vietnam slipped on real estate stocks. However, the index ended firmer this week after four straight weeks of falls. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3214.05 3194.67 0.61 Bangkok 1573.91 1563.85 0.64 Manila 7877.63 7741.07 1.76 Jakarta 6197.318 6139.397 0.94 Kuala Lumpur 1571.16 1567.34 0.24 Ho Chi Minh 966.18 968.17 -0.21 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3214.05 3068.76 4.73 Bangkok 1573.91 1563.88 0.64 Manila 7877.63 7,466.02 5.51 Jakarta 6197.318 6,194.50 0.05 Kuala Lumpur 1571.16 1690.58 -7.06 Ho Chi Minh 966.18 892.54 8.25 (Reporting by Arundhati Dutta in Bengaluru; Editing by Rashmi Aich)

SE Asia Stocks-Gain as Sino-U.S trade relief lifts risk mood

Dec 12 2019

* Trump tweets deal with China "very close" * Philippines leads gains, up over 1% * Malaysia marks best session in six weeks By Arundhati Dutta Dec 13 The Philippine and Thai indexes led gains among Southeast Asian markets on Friday as reports emerged that the United States and China had taken a major step towards securing a "phase-one" deal to de-escalate their prolonged trade war. Washington agreed to reduce some existing tariffs on Chinese goods and delay fresh tariffs that were scheduled to kick off this weekend, while Beijing agreed to buy $50 billion in U.S. agricultural goods in 2020, sources familiar with the matter told Reuters. "The terms have been agreed but the legal text has not yet been finalized. Looking ahead, the market will focus on the details of the phase-one deal, " said Margaret Yang, analyst at CMC Markets in a note. The Philippine index jumped more than 1% and posted its best session in nearly two weeks. Conglomerate Metro Pacific Investments Corp climbed as much as 16.7%, marking its best session in over a decade, after its unit Metro Pacific Hospital Holdings said it plans to buy a majority stake in Santos Clinic. The index was also underpinned by major gains in Ayala Land and SM Investments Corp. An overnight spike in oil prices pushed the energy-heavy Thai index to its highest in nearly two weeks. The benchmark is set to snap a fourth straight weekly loss. PTT Exploration and Production Pcl hit its highest level in a month. Malaysian stocks posted their best session in six weeks, with heavyweights such as power utility Tenaga Nasional and telecoms player Axiata Group lifting the index. Indonesian shares gained on financials, with PT Bank Negara Indonesia (Persero) Tbk and PT Bank Mandiri (Persero) Tbk tacking on 1% each. The Singapore bourse advanced on blue-chips, with Jardine Matheson Holdings and Jardine Strategic Holdings climbing 1.4% and 0.6%, respectively. Vietnamese shares edged up on financials, while the index was set to close the week firmer after dropping for four consecutive weeks. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0416 GMT STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3210.98 3194.67 0.51 Bangkok 1578.51 1563.85 0.94 Manila 7856.63 7741.07 1.49 Jakarta 6175.406 6139.397 0.59 Kuala Lumpur 1575.36 1567.34 0.51 Ho Chi Minh 969.42 968.17 0.13 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3210.98 3068.76 4.63 Bangkok 1578.51 1563.88 0.94 Manila 7856.63 7,466.02 5.23 Jakarta 6175.406 6,194.50 -0.31 Kuala Lumpur 1575.36 1690.58 -6.82 Ho Chi Minh 969.42 892.54 8.61 (Reporting by Arundhati Dutta in Bengaluru, Editing by Sherry Jacob-Phillips)

SE Asia Stocks-Most gain as Fed holds rates steady; Thailand snaps 10-day losing streak

Dec 12 2019

* Malaysia rises on Petronas Gas boost * Philippines falls as cenbank holds key policy rate * Singapore rises on bluechip financials By Arundhati Dutta Dec 12 Most Southeast Asian markets rose on Thursday, with Thailand snapping a 10-day losing streak and leading gains, after the U.S. Federal Reserve indicated there would be no change in rate settings in the near future. The Fed also projected a favourable outlook for the U.S. economy at its last policy meeting of the year on Wednesday. Elsewhere, China said it was in close communication with the United States, while President Donald Trump is expected to meet with top advisers to decide whether to go ahead with planned Dec. 15 tariffs. Leading gains in the region, the Thai benchmark snapped a 10-day losing streak and rebound from a near one-year closing low hit in the previous session, boosted by energy stocks. The Malaysian index posted its best intraday percentage gain in over three weeks, boosted mostly by Petronas Gas Bhd, which rose as much as 8.7% and posted its best intraday performance in over six years. "Rise is on the back of parent Petronas paring down its stake to the domestic institutional funds. This is positive considering the low float of stocks," said Redza Rahman, head of Research at MIDF. Singapore index ended 0.7% higher, its best intraday gain in nearly three weeks, boosted by gains in bluechip financial stocks. United Overseas Bank and DBS Group Holdings climbed 1.2% and 1.8%, respectively. The city state's jobless rate in the third quarter hit a 10-year high and retail sales in October fell 4.3% from year-ago period. Singapore, which counts the United States and China as key its trading partners, has been extremely reactive to any development on the trade war. Meanwhile, the Philippine index slipped 0.6%. The Philippine central bank kept its key policy rate steady for a second straight meeting, in line with a Reuters poll. Indonesian stocks dropped for the third straight session, after Finance Minister Sri Mulyani Indrawati said the government will not change the legal limit on fiscal deficit. Index heavyweight Telekomunikasi Indonesia dropped 2.5%. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3194.67 3172.9 0.69 Bangkok 1563.85 1551.82 0.78 Manila 7741.07 7786.41 -0.58 Jakarta 6139.397 6180.099 -0.66 Kuala Lumpur 1567.34 1563.19 0.27 Ho Chi Minh 968.17 961.78 0.66 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3194.67 3068.76 4.10 Bangkok 1563.85 1563.88 0.00 Manila 7741.07 7,466.02 3.68 Jakarta 6139.397 6,194.50 -0.89 Kuala Lumpur 1567.34 1690.58 -7.29 Ho Chi Minh 968.17 892.54 8.47 (Reporting by Arundhati Dutta; Editing by Rashmi Aich)

SE Asia Stocks-Most gain as Fed stands pat on rates; Singapore jumps 1%

Dec 11 2019

* Fed signals no change in interest rates in near future * Singapore Q3 unemployment rate rises to decade high * Philippines falls ahead of cenbank policy decision By Arundhati Dutta Dec 12 Most Southeast Asian markets rose on Thursday as the Federal Reserve signalled that interest rates would remain steady for some time amid positive projections for the economy, even as the weekend deadline for U.S. tariffs on Chinese goods looms. Moderate economic growth and historically low unemployment are expected to persist through the 2020 presidential election and interest rates would remain accommodative, the U.S. Fed said in its last meeting of the year. "Overall, market seems to be buying the story told by the Fed," OCBC Treasury Research said in a note. Traders are bracing for a series of make-or-break events over the next few days that have the potential to cause huge swings in financial markets for months to come. On the trade war front, U.S. President Donald trump is expected to meet with top trade advisers on Thursday to discuss planned Dec. 15 tariffs on some $160 billion worth of Chinese goods, sources familiar with the matter said. Trade-sensitive Singapore stocks rose as much as 1% to hit their highest in over a week, with United Overseas Bank and DBS Group Holdings lifting the index. Investors appeared to have shrugged off data which showed that the city-state's unemployment rate for the third quarter edged to its highest in almost 10 years. The Malaysian index posted its best session in more than three weeks, with blue caps such as power utility Tenaga Nasional and telecoms player Axiata Group posting modest gains. The bourse advanced ahead of the country's industrial output data for October, which according to a Reuters poll has grown 1.4% on-year. The Thai benchmark, which rebounded from a nearly one-year closing low hit in the previous session, is set to snap a 10-day losing streak on the back of industrial and energy sectors. Bucking the trend, the Philippine index dropped ahead of the central bank's policy decision, which according to a Reuters poll is expected to hold interest rates due to accelerating inflation. Conglomerate Ayala Land slipped 1%, while Globe Telecom lost 1.4%. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0316 GMT STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3199.29 3172.9 0.83 Bangkok 1559.56 1551.82 0.50 Manila 7758.58 7786.41 -0.36 Jakarta 6181.446 6180.099 0.02 Kuala Lumpur 1569.88 1563.19 0.43 Ho Chi Minh 963.36 961.78 0.16 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3199.29 3068.76 4.25 Bangkok 1559.56 1563.88 -0.28 Manila 7758.58 7,466.02 3.92 Jakarta 6181.446 6,194.50 -0.21 Kuala Lumpur 1569.88 1690.58 -7.14 Ho Chi Minh 963.36 892.54 7.93 (Reporting by Arundhati Dutta; Editing by Sherry Jacob-Phillips)

SE Asia Stocks-Most up on hopes of U.S. tariff delay; Thailand falls for tenth day

Dec 11 2019

* Singapore posts biggest intraday pct gain in nearly 3 weeks * Philippines has best session in more than a week * Malaysia snaps two sessions of losses By Arundhati Dutta Dec 11 Most Southeast Asian markets rose on Wednesday on expectations of a delay in U.S. tariffs on Chinese goods set to kick in this weekend, but Thailand fell for a tenth straight session. Officials on both sides are laying the groundwork to push back a new round of U.S. tariffs on Chinese imports set to come into effect on Dec. 15, the Wall Street Journal reported. "Market players are positioned for a delay at the very least," Maybank said in a note. Leading gains in the region, the Philippine benchmark had its best session in more than a week, with blue chips SM Investments Corp and Ayala Land lifting the index. The Singapore index, which is highly sensitive to developments on the trade war front, posted its biggest intraday percentage gain in nearly three weeks. United Overseas Bank added 0.9%, while DBS Group Holdings rose 0.4%. However, the Thai index continued to fall for the tenth straight day and closed at its lowest level in nearly a year. Including the session's decline, it has lost 3.9% in last 10 days. Continued uncertainties around U.S.-China trade talks were taking a toll on Thai markets, said Teerada Charnyingyong, a strategist at Phillip Capital, Thailand. "Everyone can see that Thailand's GDP growth is impacted a lot from the trade war and our export data has turned negative, That's the reason everyone continues to revise our GDP down." Thailand's central bank cut growth forecast for this year to 2.8% in September, and the finance ministry followed suit in October, in line with the growth predicted by a Reuters poll. Financials were the top losers, with the Siam Commercial Bank and Kasikornbank posting losses. The Malaysian benchmark snapped two sessions of losses, with index heavyweights Malaysia Airports and AMMB Holdings gaining 0.7% and 0.8%, respectively. Vietnamese stocks ended a tick higher, underpinned by financials. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3172.9 3162.89 0.32 Bangkok 1551.82 1552.96 -0.07 Manila 7786.41 7736.18 0.65 Jakarta 6180.099 6183.505 -0.06 Kuala Lumpur 1563.19 1561.79 0.09 Ho Chi Minh 961.78 960.3 0.15 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3172.9 3068.76 3.39 Bangkok 1551.82 1563.88 -0.77 Manila 7786.41 7,466.02 4.29 Jakarta 6180.099 6,194.50 -0.23 Kuala Lumpur 1563.19 1690.58 -7.54 Ho Chi Minh 961.78 892.54 7.76 (Reporting by Arundhati Dutta; Editing by Rashmi Aich)

SE Asia Stocks-Most markets tepid ahead of looming tariff deadline

Dec 10 2019

* Washington and Beijing may delay Dec. 15 tariffs - WSJ * Thai index set to fall for 10th straight session * Singapore up on blue chips By Arundhati Dutta Dec 11 Most Southeast Asian stock markets were subdued on Wednesday, ahead of a looming tariff deadline, despite a report that cited trade negotiators are laying the groundwork to delay fresh U.S. tariffs on Chinese imports. Officials in Beijing and Washington have signalled that Dec. 15 is not the final date for reaching a so-called "phase-one" deal, according to a Wall Street Journal report, even though that is the date U.S. President Donald Trump has set for tariffs to increase on $165 billion of Chinese goods. Faced with often conflicting reports, investors have begun to suspect that even if U.S. tariffs due to take effect on Sunday are delayed, it could take until 2020 before Washington and Beijing can agree a preliminary deal to wind back their trade war. "Trade negotiators from both countries have moved away from a deadline for a Phase 1 trade deal," DBS Group Research said in a note. Markets are also keeping an eye on commentary from the U.S. Federal Reserve's policy meeting, where the central bank is expected to stand pat on rates. Leading gains, the Philippine index posted its best session in more than a week, with conglomerates SM Investments Corp and Ayala Land advancing 1% and 0.6%, respectively. Trade-sensitive Singapore index was lifted by solid gains in Oversea-Chinese Banking Corp and agribusiness firm Wilmar International. Malaysian equities inched up, with big-cap financial stocks Malayan Banking and RHB Bank adding nearly 0.2% and 0.7%, respectively. On the downside, Thai stocks were trading lower, as losses in financials offset modest gains in industrials. The index was poised to close lower for a tenth straight session. The Siam Commercial Bank slipped 2%, while Airports of Thailand climbed 1%. Vietnamese shares dropped 0.5%, weighed by real-estate stocks. Vinhomes Joint Stock Co shed nearly 2%. The Indonesian benchmark remained subdued. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0438 GMT STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3172.11 3162.89 0.29 Bangkok 1549.38 1552.96 -0.23 Manila 7786.52 7736.18 0.65 Jakarta 6182.983 6183.505 -0.01 Kuala Lumpur 1563.75 1561.79 0.13 Ho Chi Minh 955.68 960.3 -0.48 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3172.11 3068.76 3.37 Bangkok 1549.38 1563.88 -0.93 Manila 7786.52 7,466.02 4.29 Jakarta 6182.983 6,194.50 -0.19 Kuala Lumpur 1563.75 1690.58 -7.50 Ho Chi Minh 955.68 892.54 7.07 (Reporting by Arundhati Dutta; Editing by Sherry Jacob-Phillips)

SE Asia Stocks-Fall on high caution ahead of U.S. tariff deadline; Vietnam worst hit

Dec 10 2019

* Indonesia's ends lower despite hopes of c.bank trimming rates * Philippine markets cautious ahead of c.bank meeting - analyst * Thailand closed for a holiday By Arundhati Dutta Dec 10 Southeast Asian markets saw broad losses on Tuesday, with Vietnam falling the most, as investors held risky bets awaiting a decision from the United States on whether it would go ahead with fresh tariffs on Chinese imports this weekend. Both sides struck a conciliatory tone on Monday, but no concrete details emerged. While Beijing said it hoped to strike a deal as soon as possible, U.S. President Donald Trump said that the United States was doing well in hammering out an agreement with China. Vietnam stocks led the declines in the region, dragged by consumer stocks. Country's largest brewer Sabeco , formally known as Saigon Beer Alcohol Beverage Corp, fell 1.2%. Philippine stocks extended their fall to a second session, with heavyweight SM Investments weighing on the index. "If ever there might be possibility of a Phase 1 deal, we might see stronger markets, but for now, investors are still on the sidelines," said Rachelle Cruz, analyst at AP Securities. Cruz added that investors are also laying low ahead of a policy meeting by the Philippine central bank on Dec. 12, although a 'no rate cut' scenario is expected. Data released earlier in the day showed that the country's October imports dropped 10.8% from a year ago in November, while exports jumped 0.1%. Elsewhere, data from China showed consumer inflation climbed to nearly eight-year peaks in November on rising pork prices as a result of African Swine Fever. However, according to a note by analysts at ING, since the peak of the epidemic has passed, the coming months will see a drop in inflation. "Possibly, the improvement in China's domestic food situation reduces the incentive to give more ground in trade talks with the U.S.," the note added. The Indonesian index ended 0.2% lower, despite a deputy governor saying that Indonesia's central bank may further trim interest rates. Major telecoms player Telekomunikasi Indonesia slipped 0.7%. Singapore's benchmark closed 0.5% lower after remaining tepid for most of the session, with big caps United Overseas Bank and Jardine Strategic Holdings losing 0.6%, each. Thailand markets were closed for a holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3162.93 3179.82 -0.53 Manila 7736.18 7779.8 -0.56 Jakarta 6183.505 6193.791 -0.17 Kuala Lumpur 1561.79 1562.71 -0.06 Ho Chi Minh 960.3 966.06 -0.60 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3162.93 3068.76 3.07 Bangkok 1552.96 1563.88 -0.70 Manila 7736.18 7,466.02 3.62 Jakarta 6183.505 6,194.50 -0.18 Kuala Lumpur 1561.79 1690.58 -7.62 Ho Chi Minh 960.3 892.54 7.59 (Reporting by Arundhati Dutta; Editing by Rashmi Aich)

SE Asia Stocks-Most markets fall amid lingering doubts about fresh U.S. tariffs

Dec 10 2019

* China November inflation rises 4.5% y/y * Philippine markets cautious ahead of c. Bank meeting - analyst * Thailand closed for a holiday By Arundhati Dutta Dec 10 Most Southeast Asian markets were in the red on Tuesday, with Philippines falling for a second day, on uncertainty around Dec. 15 deadline for fresh U.S. tariffs on Chinese imports. Ahead of the tariffs on $156 billion worth of Chinese goods, both China and the United States have made reconciliatory remarks. While China has said it hoped to make a trade deal as soon as possible, U.S. President Donald Trump said Washington is doing well in hammering out an agreement with Beijing. "While recent statements from both the U.S. and Chinese officials have suggested that some form of a trade deal is possible, markets will be watching for more details, " Mizuho Bank said in a note. Philippine stocks fell nearly 0.4%, with conglomerate SM Investments Corp shedding 0.6%. AP Securities' analyst Rachelle Cruz said investors were laying low ahead of a policy meeting by the Philippine central bank on Dec. 12, though a 'no rate cut' scenario is expected after strong inflation data earlier in the month. Adding to caution was data from China, which showed producer prices in November falling 1.4% from a year earlier, while the consumer price index jumped 4.5%. Vietnamese stocks snapped a two-session winning streak, with real estate stocks being the biggest losers. Vinhomes Joint Stock Company dropped 1.2%. The Indonesian and Malaysian indexes were little changed, while Thailand markets were closed for a holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0508 GMT STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3181.53 3179.82 0.05 Manila 7752.1 7779.8 -0.36 Jakarta 6185.95 6193.791 -0.13 Kuala Lumpur 1561.61 1562.71 -0.07 Ho Chi Minh 962.75 966.06 -0.34 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3181.53 3068.76 3.67 Bangkok 1552.96 1563.88 -0.7 Manila 7752.1 7,466.02 3.83 Jakarta 6185.95 6,194.50 -0.14 Kuala Lumpur 1561.61 1690.58 -7.63 Ho Chi Minh 962.75 892.54 7.87 (Reporting by Arundhati Dutta; editing by Uttaresh.V)

SE Asia Stocks-Most slip on dismal China data; Thailand slumps for ninth straight day

Dec 09 2019

* China exports shrink for fourth consecutive month * Thailand posts ninth straight session of falls * Malaysia snaps 2 sessions of gains By Arundhati Dutta Dec 9 Most Southeast Asian markets weakened on Monday, as worries over poor economic data from China offset Wall Street cheer on strong U.S. jobs data, while investors buckled in for a crucial week of trade negotiations. Chinese exports eased for the fourth straight month in November, implying that the 17-month long trade standoff with the United States was weighing on Southeast Asia's largest trading partner. However, data from the U.S. showed that job growth increased the most in 10 months in November and the unemployment rate had ticked back down to its lowest level in nearly half a century. This week, focus turns to trade talks between the two biggest economies in the world as U.S. President Donald Trump has to decide whether to hold off on a new set of tariffs on Chinese goods, which are set to kick in on Dec. 15. "China's insistence for U.S. tariff rollbacks remains a critical redline, " DBS Group Research wrote in a note. Thai shares fell for a ninth straight session and hit their lowest level in nearly a year. "The ninth consecutive fall foreshadows continued weak domestic demand going into 2020, " economists at ING said in a note. Industrials were top losers, with Airports of Thailand losing as much as 3.7% to hit its lowest level in over two months. Malaysian stocks snapped two sessions of gains, with heavyweights such as power utility Tenaga Nasional and telecom Axiata Group dragging the index. The trade-sensitive Singapore index closed lower, weighed by losses in conglomerates Jardine Matheson Holdings and Jardine Strategic Holdings. Philippine shares dropped 0.3%. Conglomerates SM Investments Corp and Ayala Land lost 1.7% and 1.8%, respectively. Indonesian stocks inched up, with PT Bank Mandiri (Persero) Tbk and PT Bank Rakyat Indonesia (Persero) Tbk adding 1% and 0.2%, respectively. Indonesia's banking regulator on Monday issued a decree requiring banks to keep a minimum leverage ratio of 3% starting Jan 1, 2020. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3179.82 3194.71 -0.47 Bangkok 1552.96 1558.99 -0.39 Manila 7779.8 7801.72 -0.28 Jakarta 6193.791 6186.868 0.11 Kuala Lumpur 1562.71 1568.44 -0.37 Ho Chi Minh 966.06 963.56 0.26 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3179.82 3068.76 3.62 Bangkok 1552.96 1563.88 -0.70 Manila 7779.8 7,466.02 4.20 Jakarta 6193.791 6,194.50 -0.01 Kuala Lumpur 1562.71 1690.58 -7.56 Ho Chi Minh 966.06 892.54 8.24 (Reporting by Arundhati Dutta; Editing by Rashmi Aich)

SE Asia Stocks-Most shares tepid as China slowdown woes weigh

Dec 09 2019

* China exports in Nov shrank for fourth straight month * Thailand set for ninth straight session of falls * Singapore, Indonesia little changed By Arundhati Dutta Dec 9 Most Southeast Asian markets were subdued on Monday as weak export data from China, the region's biggest trading partner, signalled weakness for the broader Asian economy, offsetting positive Wall Street clues following solid U.S. jobs print. Investor sentiment was hit after data projected that China exports in November shrank for the fourth straight month, implying that the trade war with the United States was taking a toll on the world's second-largest economy. Asian peers caught some of Wall Street's momentum after data showed that U.S. job growth increased by the most in 10 months in November. Investors remained on guard amid uncertainty over the Sino-U.S. trade negotiations, aimed at easing a 17-month-long war, with U.S. President Donald Trump tasked with deciding whether to hold off on a new set of tariffs against Chinese goods, which is set to kick-in on Dec. 15. "Trade war is still the biggest concern and source of uncertainty globally as the U.S and China have not finalized their phase one trade deal mainly due to disagreement of existing tariffs," MIDF Research said in a note. Malaysian stocks are set to snap two previous sessions of gains, dragged by power utility Tenaga Nasional and telecom Axiata Group. The Thai index started the week on the back foot, with industrials being the biggest drag as Airports of Thailand marked its lowest level in more than two months. The Philippine index inched lower, with conglomerates SM Investments Corp and Ayala Land losing 0.8% and 0.4%, respectively. The Indonesian benchmark traded subdued as losses in telecom stocks offset modest gains in the consumer sector. Telekomunikasi Indonesia fell nearly 0.3%, while cigarette maker Gudang Garam gained up to 1.4%. Vietnamese shares edged a tick higher, with the country's largest brewer Sabeco, formally known as Saigon Beer Alcohol Beverage Corp, climbing as much as 1.5%. Singapore stocks were little changed. For Asian Companies click SOUTHEAST ASIAN STOCK MARKETS AS AT 0452 GMT STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3192.18 3194.71 -0.08 Bangkok 1551.74 1558.99 -0.47 Manila 7800.57 7801.72 -0.01 Jakarta 6197.311 6186.868 0.17 Kuala Lumpur 1564.5 1568.44 -0.25 Ho Chi Minh 967.28 963.56 0.39 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3192.18 3068.76 4.02 Bangkok 1551.74 1563.88 -0.78 Manila 7800.57 7,466.02 4.48 Jakarta 6197.311 6,194.50 0.05 Kuala Lumpur 1564.5 1690.58 -7.46 Ho Chi Minh 967.28 892.54 8.37 (Reporting by Arundhati Dutta; Editing by Sherry Jacob-Phillips)

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