* China Q3 GDP growth weakest in 27-1/2 years
* Indonesia posts biggest weekly gain in nearly 5 months
* Malaysia snaps six-week losing streak
By Sameer Manekar
Oct 18 (Reuters) - Most Southeast Asian stock markets closed
lower on Friday after weak growth readings from China, while
Indonesian stocks extended gains to a sixth day boosted by
strength in the financial and consumer sectors.
China, the region's largest trading partner, grew at its
weakest pace in almost three decades in the third quarter, as
the bruising trade war with the United States hit factory
production. While bleak data has raised prospects for further policy
easing, analysts at OCBC said that a few positive factors, such
as a truce in the trade war, a pickup in infrastructure
investment and stabilization of the manufacturing sector may
prompt China's central bank to adopt a wait and see stance.
In contrast to the disappointing 6% annual growth in GDP,
China's industrial output grew a better-than-expected 5.8% in
September, faster than the 17-year-low posted in August.
Philippine shares .PSI led declines in Southeast Asia,
with utilities and financial firms among the biggest drags on
Manila's benchmark index which managed to post a second
consecutive weekly gain.
BDO Unibank BDO.PS and Manila Electric MER.PS fell 2.6%
and 2.3%, respectively.
Singapore stocks .STI slipped 0.4% to a one-week low, hurt
by weakness in the consumer and financial sectors. United
Overseas Bank UOBH.SI and Singapore Airlines SIAL.SI lost
0.8% and 1.4%, respectively.
Losses in the consumer and telecom sectors pushed Malaysia's
benchmark index .KLSE 0.2% lower, with food processor IOI
Corporation IOIB.KL and mobile communication service provider
Digi.Com Bhd DSOM.KL shedding 3.4% and 1.1%, respectively.
Thai stocks .SETI edged lower. Industrial and financial
stocks led declines on the benchmark index, with Kasikornbank
Pcl KBANK.BK and real estate developer Asset World Pcl Corp
AWC.BK down 2.2% and 2.9% each.
Investor focus will now turn to the release of trade data
next week. The trade-reliant economy's customs-cleared exports
in September are likely to grow 1.2% from a year earlier, a
Reuters poll showed, after falling 4% the previous month.
Bucking the regional trend, Indonesia stocks .JKSE rose
0.2%, with Bank Central Asia BBCA.JK , adding 0.7% and auto
manufacturer Astra International ASII.JK gaining 1.1%.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3114.16 3126.14 -0.38
Bangkok 1631.43 1632.8 -0.08
Manila 7885.23 7930.55 -0.57
Jakarta 6191.947 6181.014 0.18
Kuala Lumpur 1571.15 1574.5 -0.21
Ho Chi Minh 989.2 989.82 -0.06
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3114.16 3068.76 1.48
Bangkok 1631.43 1563.88 4.32
Manila 7885.23 7,466.02 5.61
Jakarta 6191.947 6,194.50 -0.04
Kuala Lumpur 1571.15 1690.58 -7.06
Ho Chi Minh 989.2 892.54 10.83