SE Asia Stocks-Most fall on weak China data, Sino-U.S. trade deal worries

SE Asia Stocks-Most fall on weak China data, Sino-U.S. trade deal worries

* China's Oct industrial output grew slower than expected
* Philippine shares at near 4-week low
* Thai cenbank to lower growth outlook for 2019 & 2020

By Anushka Trivedi
Nov 14 (Reuters) - Most Southeast Asian stock markets
declined on Thursday, as dismal economic print from China and
rising uncertainty over a highly-anticipated Sino-U.S. trade
deal weighed on risk sentiment.
Indonesian stocks .JKSE dropped the most in the region
after data showed China's industrial output grew significantly
slower than expected in October, reinforcing views that
long-drawn trade war with United States is taking a toll on the
world's second-largest economy. An interim deal to de-escalate the tariff dispute appeared
elusive, with trade negotiations between Washington and Beijing
hitting a snag over farm purchases, according to the Wall Street
Journal. "The latest news added to the sense that the path to any
trade deal remains riddled with uncertainties and contributed to
the relatively lower market risk appetite," OCBC analysts said
in a note.
Financials and telco dominated the losses in Indonesia,
where the benchmark index traded 0.9% lower at a five-week
trough.
Lenders Bank Central Asia Tbk PT BBCA.JK and
Telekomunikasi Indonesia Tbk PT TLKM.JK slipped 1% and 2.7%,
respectively, and were the biggest drags on the main index.
Philippine's main index .PSI slipped as much as 0.8% to a
near four-week low ahead of a central bank meeting.
Bangko Sentral ng Pilipinas looks certain to leave its
policy rate unchanged after stronger-than-expected economic
growth in the third quarter and with inflation likely to remain
tame in the coming months, a Reuters poll showed. Property developer Ayala Land Inc ALI.PS and electricity
retailer Aboitiz Equity Ventures Inc AEV.PS were among the top
losers on the index.
Ayala Corp AC.PS , Philippines' largest conglomerate, fell
1.5% to an over two-and a half-year low after it said it will
invest $237.5 million in Myanmar's Yoma Group in search of
growth in multiple sectors. Singapore shares .STI slipped 0.3%, with heavyweight
United Overseas Bank Ltd UOBH.SI dipping 0.8%, while Jaridne
Matheson Holdings Ltd JARD.SI shed 1.7%.
Thai shares .SETI were lower after the central bank said
it would lower the country's economic growth forecasts for this
year and next, and that monetary policy action to support the
economy was still in play. Shares in Vietnam .VNI , which has benefited from the
Sino-U.S. trade war, edged up slightly.

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SOUTHEAST ASIAN STOCK MARKETS AS AT 0415

Change on the day
Market Current Previous close Pct Move
Singapore 3229.68 3239.22 -0.29
Bangkok 1609.59 1615.14 -0.34
Manila 7912.73 7947.47 -0.44
Jakarta 6085.603 6142.501 -0.93
Kuala Lumpur 1595.87 1597.22 -0.08
Ho Chi Minh 1014.72 1012.77 0.19

Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3229.68 3068.76 5.24
Bangkok 1609.59 1563.88 2.92
Manila 7912.73 7,466.02 5.98
Jakarta 6085.603 6,194.50 -1.76
Kuala Lumpur 1595.87 1690.58 -5.60
Ho Chi Minh 1014.72 892.54 13.69