* High-level Sino-U.S. trade talks to begin on Thursday
* The Philippines' Aug trade deficit narrows on-month
* Energy and banking sectors dent Thailand index
By Soumyajit Saha
Oct 10 (Reuters) - Philippine stocks rose in low volumes,
while most other Southeast Asian markets held steady on
Thursday, as investors remained cautious as neither Washington
nor Beijing had shown signs of giving ground at the trade
negotiations.
U.S. S&P500 mini futures .ESc1 tumbled after media reports
cited that no progress was made in the deputy-level trade talks,
and that the Chinese delegation was planning to leave Washington
on Thursday after just one day of high-level talks, instead of
Friday as originally planned. Washington is weighing a currency pact with China as part of
a partial deal that could see a planned tariff hike next week
being suspended, Bloomberg reported citing sources familiar with
the talks. "I think we will see neutral markets as people are taking a
more cautionary approach and holding positions, given the risk
that the outcome of the talk might have a negative impact on the
markets," said Linus Loo, head of research, Lim & Tan
Securities.
Hopes for a breakthrough are not high, but some investors
are trying to scale back their positions, at least temporarily,
because the outcome of the trade negotiations cannot be
predicted.
The Singapore index .STI , which is among the most
vulnerable to the trade dispute with China being the region's
biggest trading partner, dropped to its weakest since Oct. 4.
Meanwhile, real-estate and banking sectors lifted the
Philippines' benchmark index .PSI , though volumes traded on
Thursday were a fraction of their monthly average.
Property developer SM Prime Holdings SMPH.PS gained 1.6%,
while Bank of the Philippine Islands BPI.PS was up 1.7%.
Philippines' trade deficit narrowed to $2.41 billion in
August from a deficit of $3.39 billion in July, as exports rose
0.6% year-on-year. Indonesian shares .JKSE edged a tick higher, with Chandra
Asri Petrochemical TPIA.JK climbing 1.8% and conglomerate
Astra International ASII.JK rising 0.8%.
The Thai index .SETI set to close lower for a seventh
session in nine, dented by losses in energy and banking sectors.
Gas explorer PTT PCL PTT.BK dropped 2.2%, while lender Siam
Commercial Bank SCB.BK fell 0.9%.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0420 GMT
STOCK MARKETS
Change on the day
Market Current Previous Pct Move
close
Singapore 3085.98 3089.9 -0.13
Bangkok 1609.98 1616.18 -0.38
Manila 7730.18 7681.25 0.64
Jakarta 6034.329 6029.16 0.09
Kuala Lumpur 1550.73 1551.23 -0.03
Ho Chi Minh 990.34 987.83 0.25
Change so far in
2019
Market Current End 2018 Pct Move
Singapore 3085.98 3068.76 0.56
Bangkok 1609.98 1563.88 2.95
Manila 7730.18 7,466.02 3.54
Jakarta 6034.329 6,194.50 -2.59
Kuala Lumpur 1550.73 1690.58 -8.27
Ho Chi Minh 990.34 892.54 10.96