June 25, 2019 / 4:05 AM / 4 months ago

SE Asia Stocks-Most edge lower ahead of Trump-Xi G20 meeting

    * Philippines up for sixth consecutive session
    * Indonesia higher after 3 sessions of falls
    * Thai May factory output data misses forecast

    By Shreya Mariam Job
    June 25 (Reuters) - Most Southeast Asian stock markets
slipped on Tuesday as investors refrained from taking any fresh
positions ahead of key trade talks between presidents of the
United States and China on the sidelines of a G20 summit this
    U.S. President Donald Trump views the meeting with Chinese
President Xi Jinping as a chance to see where Beijing stands on
the trade war, and is "comfortable with any outcome" from the
talks, a senior U.S. official said on Monday.
    "The most likely outcome is that both Trump and Xi will
shake hands and agree to get back to the negotiation table, with
no clear timeline or commitment for a trade 'deal'," Mizuho Bank
said in a note. 
    Thai stocks declined 0.4% on disappointing factory
output data and ahead of a central bank policy decision on
    Factory output dropped 3.99% in May from a year earlier,
dragged by lower production of cars and rubber products. That
compared with a forecast of 0.1% fall in a Reuters poll, and
against April's 2.03% gain.
    Meanwhile, the central bank is expected to keep benchmark
policy rate steady for a fourth straight meeting, according to a
Reuters poll, despite slowing growth and the way many Asian
central banks have shifted toward easing policy.
    PTT PCL and Advanced Info Service PCL 
dropped 1% and 1.5%, respectively.  
    Vietnam stocks dropped 0.2% with financials
accounting for most of the decline.         
    Indonesian shares gained 0.5% after three
consecutive sessions of losses, boosted by consumer and
financial stocks.
    A surprise trade surplus in May spurred hopes for 
improvements in the country's trade outlook despite the damaging
Sino-U.S. trade war.
    Telekomunikasi Indonesia and Unilever Indonesia
Tbk Pt gained 0.8% and 1.3%, respectively. 
    Philippine stocks edged up, heading for a sixth
straight sessions of gains. 
    Industrials and financials were among the top performers
with SM Investments Corp and BDO Unibank Inc
rising 0.4% and 0.7%, respectively. 

For Asian Companies click;  

 Change on the day                                            
 Market                 Current   Previous close  Pct Move    
 Singapore              3309.14   3311.53         -0.07       
 Bangkok                1709.31   1716            -0.39       
 Manila                 8068.01   8060.58         0.09        
 Jakarta                6322.402  6288.465        0.54        
 Kuala Lumpur           1674.79   1676.13         -0.08       
 Ho Chi Minh            960.55    962.85          -0.24       
 Change so far in 2019                                        
 Market                 Current   End 2018        Pct Move    
 Singapore              3309.14   3068.76         7.83        
 Bangkok                1709.31   1563.88         9.30        
 Manila                 8068.01   7,466.02        8.06        
 Jakarta                6322.402  6,194.50        2.06        
 Kuala Lumpur           1674.79   1690.58         -0.93       
 Ho Chi Minh            960.55    892.54          7.62        
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)
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