October 15, 2019 / 10:35 AM / a month ago

SE Asia Stocks-Most end lower on trade deal uncertainty

    * Indonesia returns to trade deficit in Sept
    * Philippines leads losses in the region
    * Malaysia snaps three straight session of gains

    By Sameer Manekar
    Oct 15 (Reuters) - Most Southeast Asian stock markets ended
lower on Tuesday, with Philippines falling the most, as optimism
over a Sino-U.S. trade deal faded after Chinese demanded further
talks, while investors also sought more details on the partial
deal struck last week. 
    China wants more talks before the end of October to hammer
out the details of U.S. President Donald Trump's proposed deal
before Chinese President Xi Jinping signs it, Bloomberg reported
on Monday.
    Markets around the globe had earlier cheered reports of a
"Phase 1" trade deal between the United States and China,
however a dearth of details around the agreement has curbed
enthusiasm.
    "The Asia-Pacific Economic Cooperation meeting next month,
where Trump and Xi will be meeting, will be a key event to watch
out for," Joel Ng, an analyst at KGI Securities said.
    "If they don't have a deal, then it is likely that December
15 tariffs come into effect, and that will be really negative
for the markets." 
    The long-drawn Sino-U.S. trade war has largely weighed on
Southeast Asian economies, which count China as their top trade
partner.
    Philippine stocks snapped a three-day winning streak
to post its worst session in nearly a week, as weakness in
financial and consumer sectors weighed.
    Index heavyweight SM Prime Holdings and SM
Investments Corp were among the biggest drags on the
Manila index, shedding 2.8% and 1.5% each. 
   Singapore's Straits Times index declined 0.3%, dragged
by financials and industrial firms.
    Capitaland Mall Trust and Singapore Technologies
Engineering lost 1.1% and 1.2%, respectively.
    Malaysian stocks edged lower after three consecutive
sessions of gains. Mobile communication service provider
Digi.com Bhd and IHH Healthcare slipped 1.9%
and 2.4% each. 
    Bucking the trend, Indonesian stocks advanced 0.5%,
buoyed by materials and consumer staples firms. 
    Data released earlier in the day showed that Southeast
Asia's largest economy swung back to a trade deficit in
September as the pace of the decline in imports was slower than
expected.
    "With Indonesia's inflation within the target (3.39% in
September) and growth momentum constrained, we expect the
central bank to consider cutting policy rates further to give
the economy an added boost," ING said in a note. 
    Pulp and paper products maker PT Indah Kiat Pulp & Paper
 and tobacco firm PT Japfa Comfeed Indonesia
jumped 11.6% and 1.9%, respectively.

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SOUTHEAST ASIAN STOCK MARKETS

    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3116.17   3124.45         -0.27
 Bangkok                1627.01   1626            0.06
 Manila                 7840.31   7884.29         -0.56
 Jakarta                6158.166  6126.877        0.51
 Kuala Lumpur           1566.23   1567.59         -0.09
 Ho Chi Minh            993.05    993.57          -0.05
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3116.17   3068.76         1.54
 Bangkok                1627.01   1563.88         4.04
 Manila                 7840.31   7,466.02        5.01
 Jakarta                6158.166  6,194.50        -0.59
 Kuala Lumpur           1566.23   1690.58         -7.36
 Ho Chi Minh            993.05    892.54          11.26
 

 (Reporting by Sameer Manekar in Bengaluru; editing by
Uttaresh.V)
  
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