* Malaysia, Philippines top losers, down over 1% each
* Singapore edges higher ahead of manufacturing data
By Nikhil Subba
Sept 3 (Reuters) - Most Southeast Asian stock markets closed
lower on Tuesday as the trade spat between the United States and
China escalated further, with Malaysia and the Philippines
shedding over 1% each.
The world's two largest economies imposed fresh tariffs on
each other's goods over the weekend, re-igniting worries of a
global recession.
U.S. President Donald Trump said U.S. and Chinese officials
would meet for negotiations later this month, but they have not
been able to agree on a schedule.
With both sides unable to set a date for fresh trade talks,
"the uncertainty about the U.S.-China trade continues to rule
the markets", ING analysts said in a note to clients.
Markets are "very tentative", said AP Securities analyst
Rachelle Cruz, adding that market participants now awaited the
next round of tariffs, expected in October, and the outcome of
the U.S. Federal Reserve meeting in September.
Philippine stocks .PSI closed about 1.4% lower, weighed
down by industrials and consumer non-cyclicals.
Conglomerate Alliance Global Group AGI.PS slumped nearly
4%, while infrastructure developer Metro Pacific Investments
Corp MPI.PS declined about 2%.
A survey by IHS Markit showed on Monday that growth in the
manufacturing sector slowed in August from a month earlier.
Malaysian stocks .KLSE fell 1.3% with a survey showing
manufacturing performance for August fell fractionally to its
lowest since March.
Petroleum products retailer Petronas Dagangan PETR.KL fell
more than 6%, and palm oil manufacturer Sime Darby Plantation
SIPL.KL declined over 4%.
Indonesian shares .JKSE shed about 0.5%, weighed down by
healthcare and telecom services.
Meanwhile, Singapore's Straits Times Index .STI closed the
session marginally higher, boosted by utility and industrial
stocks, ahead of August manufacturing data expected later in the
day.
The data will throw light on the city state's economy, which
depends heavily on manufacturing and shipping of electronic
products, against the backdrop of a global slowdown.
Sembcorp Industries SCIL.SI climbed about 3%, while
Jardine Matheson Holdings JARD.SI ended about 1% higher.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3090.63 3082.96 0.25
Bangkok 1642.25 1654.11 -0.72
Manila 7804.71 7918.53 -1.44
Jakarta 6261.59 6290.546 -0.46
Kuala Lumpur 1591.52 1612.14 -1.28
Ho Chi Minh 979.36 984.06 -0.48
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3090.63 3068.76 0.71
Bangkok 1642.25 1563.88 5.01
Manila 7804.71 7,466.02 4.54
Jakarta 6261.59 6,194.50 1.08
Kuala Lumpur 1591.52 1690.58 -5.86
Ho Chi Minh 979.36 892.54 9.73