* Philippine shares on track to slide for 3rd session
* BSP says Aug FDI net flows dropped significantly
* Telcos boost Thai stocks
By Anushka Trivedi
Nov 12 (Reuters) - Philippine shares dropped to their lowest
in almost two weeks on Tuesday, pulled lower by financials
stocks, while Singapore led gains in Southeast Asia ahead of
retail sales data due later in the day.
The benchmark Philippine index .PSI dropped 0.4% after the
country's central said on Monday that foreign direct investments
(FDI) net inflows decreased to $416 million in August from $758
million a year ago as ongoing uncertainty in the global
environment dampened sentiment. (https:// The decline in FDI inflows is likely to continue, which will
drag both GDP and employment, as foreign investors wait for a
key corporate income tax bill expected in 2020, AP Securities
analysts said in a client note.
Singapore shares .STI advanced 0.3%, after losing about
1.4% in the past two sessions on weakness in industrial stocks.
The city-state's September retail sales figures, slated to
be released later in the session, likely shrank on an annual
basis but rose 3.5% over the previous month, according to OCBC
analysts.
Conglomerates Jardine Strategic Holdings Ltd JSH.SI and
Jardine Matheson Holdings Ltd JARD.SI added 1.3% each.
However, most other Southeast Asian stock markets were
little changed in thin trade ahead of a speech by U.S. President
Donald Trump on Tuesday that could provide clues on the status
of an interim trade deal with China.
Trump had doused hopes of an imminent trade pact over the
weekend, when he said he had not agreed to roll back tariffs on
China as part of "phase one" deal.
There is no sign that trade talks have broken down but "the
current condition is unlikely to give risk asset another leg up
either in the absence of any further positive follow through,"
Mizuho analysts said in a note.
The Thai benchmark .SETI edged up, with telco Advanced
Info Service PCL ADVANC.BK jumping 1.8%.
Jefferies expects the transition to 5G to result in better
market collaboration and higher ARPU growth for the telecom
sector.
Indonesia's main index .JSKE slid 0.1%, with lenders Bank
Central Asia Tbk PT BBCA.JK and Bank Mandiri (Persero) Tbk PT
BMRI.JK dragging the benchmark.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0404 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3250.45 3240.65 0.30
Bangkok 1625.1 1622.12 0.18
Manila 7980.01 8009.38 -0.37
Jakarta 6146.457 6148.74 -0.04
Kuala Lumpur 1609.34 1608.15 0.07
Ho Chi Minh 1018.66 1016.75 0.19
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3250.45 3068.76 5.92
Bangkok 1625.1 1563.88 3.91
Manila 7980.01 7,466.02 6.88
Jakarta 6146.457 6,194.50 -0.78
Kuala Lumpur 1609.34 1690.58 -4.81
Ho Chi Minh 1018.66 892.54 14.13