* Trading volumes low due to China holiday
* Singapore, Philippines fall about 1% each
By Shreya Mariam Job
Oct 2 (Reuters) - Southeast Asian stock markets fell on
Wednesday, as a slump in U.S. manufacturing activity renewed
fears of a global growth slowdown and underscored the damaging
effects of the prolonged trade war with China.
U.S. manufacturing activity tumbled to a more than 10-year
low in September as lingering trade tensions weighed on exports.
"The slowdown in the U.S. is probably having a larger impact
on those countries that are major trade players," said Joel Ng,
an analyst at KGI securities. "The moves are a bit more
exaggerated because of lower liquidity."
Trading volumes were low across Southeast Asian markets due
to the week-long holiday in China for the National Day.
Singapore stocks .STI shed 1%, with financials accounting
for most of the losses.
The trade-reliant city state has been hit hard by the
prolonged Sino-U.S. trade war, with a flood of weak data
including the dismal August manufacturing figures sparking fears
of a recession.
Shares of top lender DBS Group Holdings DBSM.SI dropped
1.3%, while those of United Overseas Bank Ltd UOBH.SI shed
1.2%.
Philippine stocks .PSI dropped 0.9% and were headed for a
fourth consecutive session of losses.
Property and financial stocks were hit the most, with SM
Prime Holdings SMPH.PS and BDO Unibank Inc BDO.PS shedding
1.6% and 1.5%, respectively.
This came after the central bank governor said on Tuesday
banning online gambling would have little impact on the economy.
The country has initiated a study into the economic impact
of halting online gambling after China urged Manila to outlaw
the cross-border activities it says pose money-laundering risks.
These firms have lifted property demand and retail spending
by drawing visitors from China who work for these online
gambling operators.
Malaysian stocks .KLSE dipped 0.5% on the back of
financials and telecoms, with Public Bank Bhd PUBM.KL and
Axiata Group Bhd AXIA.KL shedding 0.5% each.
Thai stocks .SETI fell 0.6%, with top listed oil explorer
PTT PCL PTT.BK losing 0.6%.
The company along with Gulf Energy Development Pcl GULF.BK
is set to build a 40.9 billion baht ($1.34 billion) gas terminal
and port on the country's east coast. Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS as at 0344 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3116.23 3146.03 -0.95
Bangkok 1614.33 1624.09 -0.60
Manila 7669.59 7739.86 -0.91
Jakarta 6116.669 6138.25 -0.35
Kuala Lumpur 1580.8 1589.44 -0.54
Ho Chi Minh 997.47 999.59 -0.21
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3116.23 3068.76 1.55
Bangkok 1614.33 1563.88 3.23
Manila 7669.59 7,466.02 2.73
Jakarta 6116.669 6,194.50 -1.26
Kuala Lumpur 1580.8 1690.58 -6.49
Ho Chi Minh 997.47 892.54 11.76
($1 = 30.6200 baht)