October 23, 2019 / 9:57 AM / 3 months ago

SE Asia Stocks-Most fall on global demand worries, Singapore slips most

    * Indonesia rises for 9 straight sessions
    * Singapore falls most in two weeks
    * Malaysia Sept inflation +1.1% (Reuters poll: +1.4%)

    By Sameer Manekar
    Oct 23 (Reuters) - The majority of the southeast Asian stock
markets ended lower on Wednesday, with Singapore leading losses,
as investors booked profits after recent gains, while revenue
warning from a major U.S. chipmaker revived concerns about
global economic growth.
    Leading the declines in the region, Singapore shares
posted their worst fall in two weeks, dragged by the financial
and industrial sectors.
    Texas Instruments Inc, whose broad lineup of
products makes it a proxy for the global chip industry, forecast
current-quarter revenue to be well below estimates on Tuesday.

    Given that Texas Instruments supplies to a broad range of
industries, a weak outlook, along with the mention that the
trade war is making customers more cautious, has probably
impacted broader sentiment in Asia, said Joel Ng, an analyst at
KGI Securities.
    The Straits Times index was weighed down by lender United
Overseas Bank and industrial conglomerate Jardine
Matheson Holdings which fell 0.5% and 1.3%,
    The city-state's core inflation rose slightly less in
September than it did in the previous month as it hit a more
than three-year low, data showed on Wednesday.
    Meanwhile, Indonesia's benchmark index added 0.5%,
posting its ninth straight session of gains, ahead of the
central bank's policy meet on Thursday.
    Bank Indonesia is expected to cut its benchmark rate by 25
basis points to support the economy, according to analysts
polled by Reuters. [​nL3N2762MS]
    Index heavyweights Bank Rakyat Indonesia and
Telekomunikasi Indonesia gained 1% and 0.7%,
    An index of the country's 45 most liquid stocks
rose 0.9%. 
    Risk appetite in the region was also curbed as investors
awaited signs of resolution in the prolonged Sino-U.S. trade
dispute, amid news reported by Reuters that the U.S. trade
adviser to President Donald Trump is set to leave the
    Malaysian stocks fell most in two weeks, dragged
lower by the financial and consumer sectors.
    Hong Leong Financial Group and Sime Darby
Plantation were among the top losers, falling 3.3% and
0.9%, respectively.
    Data released on Wednesday showed Malaysia's inflation
rising at a slower-than-expected pace in September from a year
    Bank Negara Malaysia, which cut its key interest rate in May
for the first time since 2016 amid low inflation and concerns
over slowing growth, is set to meet on Nov. 5 for its next
monetary policy decision.
    The Philippine bourse slipped 0.3%, coming off an
over five-week high, as investors locked in gains after rising
for the previous two sessions.
    Financials and consumer firms were among the top losers,
with BDO Unibank and Universal Robina Corp
losing 1.1% each. 
    Thai markets were closed for a holiday.

For Asian Companies click  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3144.28   3160.67         -0.52
 Manila                 7933.76   7955.24         -0.27
 Jakarta                6257.806  6225.497        0.52
 Kuala Lumpur           1568.79   1574.09         -0.34
 Ho Chi Minh            987.79    987.19          0.06
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3144.28   3068.76         2.46
 Bangkok                1631.46   1563.88         4.32
 Manila                 7933.76   7,466.02        6.26
 Jakarta                6257.806  6,194.50        1.02
 Kuala Lumpur           1568.79   1690.58         -7.20
 Ho Chi Minh            987.79    892.54          10.67

 (Reporting by Sameer Manekar in Bengaluru; Editing by Shounak
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