Company News

SE Asia Stocks-Falter on trade deal uncertainty, China data

    * China Oct PPI falls most in 3-yrs
    * Thai shares lead losses
    * Singapore's DBS Group flags weaker 2020

    By Anushka Trivedi
    Nov 11 (Reuters) - Southeast Asian stock markets edged lower
on Monday as uncertainty over whether the United States and
China would end their bruising trade war lingered, while data
from Beijing brought slowdown fears to the fore.
    U.S. President Donald Trump on Friday contrasted reports of
officials from U.S. and China agreeing to rollback existing
tariffs by saying he had not agreed to such a deal, which
sparked fresh doubts over whether the two sides would find a
segue in their damaging tariff spat.
    Meanwhile, data showed that China's producer prices, a key
indicator of corporate profitability, fell the most in more than
three years in October, as the manufacturing sector weakened
while consumer prices grew at their fastest pace in about eight
    This "continuous divergence between CPI and PPI further
reaffirms the underlying moderating demand," Mizuho analysts
said in a note.
    "As the government shows higher degree of tolerance on
slower growth, evidenced by the absence of resolute steps from
the People's Bank of China in terms of easing measures, growth
still faces risk of falling to sub-6% next year", they added. 
    Leading losses in the region, Thai bourse was 0.6%
lower as financial and industrial stocks faltered. 
    Singapore stocks slipped 0.5%, with financials
dominating losses on the benchmark. The city-state has a sizable
exposure to China.
    United Overseas Bank Ltd fell 0.5%, while DBS
Group Holdings Ltd dipped 0.2%.
    DBS Group, Southeast Asia's largest lender, reported a jump
in quarterly profit but flagged a dull 2020 as it now expects
revenue and profit next year to grow in low single digits.

    Indonesia's main index fell about 0.4%, pressured by
banking and telco stocks. Shares of Bank Rakyat Indonesia
(Persero) Tbk PT and Telekomunikasi Indonesia Tbk PT
 dropped over 1% each in the session.
    Malaysian shares declined ahead of monthly
industrial output data, which is expected to grow by 1%,
according to analysts at ING.
    Palm oil producer Kuala Lumpur Kepong Bhd and
lender CIMB Group Holdings Bhd were the top drags on
the index as they fell 2.2% and 0.7%, respectively.
    Elsewhere, Vietnam stocks traded sideways.
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 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3248.46   3264.3          -0.49
 Bangkok                1627.76   1637.85         -0.62
 Manila                 8054.27   8065.76         -0.14
 Jakarta                6155.597  6177.986        -0.36
 Kuala Lumpur           1606.78   1609.73         -0.18
 Ho Chi Minh            1021.92   1022.49         -0.06
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3248.46   3068.76         5.86
 Bangkok                1627.76   1563.88         4.08
 Manila                 8054.27   7,466.02        7.88
 Jakarta                6155.597  6,194.50        -0.63
 Kuala Lumpur           1606.78   1690.58         -4.96
 Ho Chi Minh            1021.92   892.54          14.50
 (Reporting by Anushka Trivedi in Bengaluru; Editing by Shailesh