October 18, 2019 / 10:01 AM / a month ago

SE Asia Stocks-Most fall on China growth slowdown; Philippines leads losses

    * China Q3 GDP growth weakest in 27-1/2 years
    * Indonesia posts biggest weekly gain in nearly 5 months
    * Malaysia snaps six-week losing streak

    By Sameer Manekar
    Oct 18 (Reuters) - Most Southeast Asian stock markets closed
lower on Friday after weak growth readings from China, while
Indonesian stocks extended gains to a sixth day boosted by
strength in the financial and consumer sectors. 
    China, the region's largest trading partner, grew at its
weakest pace in almost three decades in the third quarter, as
the bruising trade war with the United States hit factory
production.
    While bleak data has raised prospects for further policy
easing, analysts at OCBC said that a few positive factors, such
as a truce in the trade war, a pickup in infrastructure
investment and stabilization of the manufacturing sector may
prompt China's central bank to adopt a wait and see stance.  
    In contrast to the disappointing 6% annual growth in GDP,
China's industrial output grew a better-than-expected 5.8% in
September, faster than the 17-year-low posted in August.
    Philippine shares led declines in Southeast Asia,
with utilities and financial firms among the biggest drags on
Manila's benchmark index which managed to post a second
consecutive weekly gain.
    BDO Unibank and Manila Electric fell 2.6%
and 2.3%, respectively.
    Singapore stocks slipped 0.4% to a one-week low, hurt
by weakness in the consumer and financial sectors. United
Overseas Bank and Singapore Airlines lost
0.8% and 1.4%, respectively.
    Losses in the consumer and telecom sectors pushed Malaysia's
benchmark index 0.2% lower, with food processor IOI
Corporation and mobile communication service provider
Digi.Com Bhd shedding 3.4% and 1.1%, respectively.
    Thai stocks edged lower. Industrial and financial
stocks led declines on the benchmark index, with Kasikornbank
Pcl and real estate developer Asset World Pcl Corp
 down 2.2% and 2.9% each. 
    Investor focus will now turn to the release of trade data
next week. The trade-reliant economy's customs-cleared exports
in September are likely to grow 1.2% from a year earlier, a
Reuters poll showed, after falling 4% the previous month.

    Bucking the regional trend, Indonesia stocks rose
0.2%, with Bank Central Asia, adding 0.7% and auto
manufacturer Astra International gaining 1.1%.
    

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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3114.16   3126.14         -0.38
 Bangkok                1631.43   1632.8          -0.08
 Manila                 7885.23   7930.55         -0.57
 Jakarta                6191.947  6181.014        0.18
 Kuala Lumpur           1571.15   1574.5          -0.21
 Ho Chi Minh            989.2     989.82          -0.06
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3114.16   3068.76         1.48
 Bangkok                1631.43   1563.88         4.32
 Manila                 7885.23   7,466.02        5.61
 Jakarta                6191.947  6,194.50        -0.04
 Kuala Lumpur           1571.15   1690.58         -7.06
 Ho Chi Minh            989.2     892.54          10.83
 

 (Reporting by Sameer Manekar in Bengaluru; Editing by Nick
Macfie)
  
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