* Thailand at near 2-week high on possible stimulus package,
up 1%
* Singapore Oct core inflation rate eases to over three-year
low
* Indonesia hits over 6-week low, extends losses to third
session
By Arundhati Dutta
Nov 25 (Reuters) - Most Southeast Asian stock markets
slipped on Monday, as mixed signals from the United States and
China about progress in settling their trade dispute kept risk
sentiment low, while Thailand rose on stimulus hopes from the
government.
According to officials in Beijing and Washington, the
November 2020 U.S. Presidential election and the difficulties in
reaching an initial agreement have made it unlikely that a
"phase two" deal would be reached in the near future.
Furthermore, U.S. national security adviser Robert O'Brien
gave mixed cues on Saturday, saying that though an interim deal
was still possible by the end of this year, events in Hong Kong
would not be ignored. Rising tensions between the United States and China had kept
markets subdued across the last week, after the U.S House of
Representatives passed two bills aimed at protecting human
rights of anti-government protesters in Hong Kong. "Even if the keenly awaited "phase-one" trade deal is
signed, it doesn't mean it will be all smooth sailing for the
markets thereafter, with further bouts of volatility expected,"
said Han Tan, a market analyst at FXTM in a note.
While most major markets traded lower, Thai stocks managed
to log robust gains.
The Thai benchmark index .SETI advanced 1% to its highest
level in nearly two weeks, after local media https://www.bangkokpost.com/thailand/general/1801184/govt-preps-b50bn-for-stimulusreported
the government was considering a stimulus package to inject at
least 50 billion baht ($1.66 billion) into the economy in the
final quarter.
In line with the subdued regional mood, Indonesian stocks
.JKSE extended losses into a third straight session and hit
their lowest level in over six weeks. Weighing on the index,
sector heavyweight Telekomunikasi Indonesia TLKM.JK lost 2.5%.
The Singapore benchmark .STI , which had climbed as much
as 0.6% in early trade, lost ground and closed sightly lower
after data showed that the city-state's core inflation rate in
October had eased to an over three-year low. Philippines stocks .PSI tumbled 0.7% and hit an over
six-week low, with big caps such as Ayala Land Inc ALI.PS and
Manila Electric Company dragging the index.
Malaysian shares .KLSE ended 0.4% lower, with telco Axiata
Group AXIA.KL shedding 2.3%.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3220.63 3225.65 -0.16
Bangkok 1614.8 1597.72 1.07
Manila 7771.62 7824.59 -0.68
Jakarta 6070.762 6100.242 -0.48
Kuala Lumpur 1591.35 1596.84 -0.34
Ho Chi Minh 976.35 977.78 -0.15
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3220.63 3068.76 4.95
Bangkok 1614.8 1563.88 3.26
Manila 7771.62 7,466.02 4.09
Jakarta 6070.762 6,194.50 -2.00
Kuala Lumpur 1591.35 1690.58 -5.87
Ho Chi Minh 976.35 892.54 9.39
($1 = 30.1900 baht)