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SE Asia Stocks-Most edge lower ahead of Trump-Xi G20 meeting

Published 06/25/2019, 12:05 PM
Updated 06/25/2019, 12:10 PM
SE Asia Stocks-Most edge lower ahead of Trump-Xi G20 meeting
JKSE
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SETI
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PSI
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TLKM
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UNVR
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BDO
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SM
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ADVANC
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PTT
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VNI
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* Philippines up for sixth consecutive session
* Indonesia higher after 3 sessions of falls
* Thai May factory output data misses forecast

By Shreya Mariam Job
June 25 (Reuters) - Most Southeast Asian stock markets
slipped on Tuesday as investors refrained from taking any fresh
positions ahead of key trade talks between presidents of the
United States and China on the sidelines of a G20 summit this
week.
U.S. President Donald Trump views the meeting with Chinese
President Xi Jinping as a chance to see where Beijing stands on
the trade war, and is "comfortable with any outcome" from the
talks, a senior U.S. official said on Monday. "The most likely outcome is that both Trump and Xi will
shake hands and agree to get back to the negotiation table, with
no clear timeline or commitment for a trade 'deal'," Mizuho Bank
said in a note.
Thai stocks .SETI declined 0.4% on disappointing factory
output data and ahead of a central bank policy decision on
Wednesday.
Factory output dropped 3.99% in May from a year earlier,
dragged by lower production of cars and rubber products. That
compared with a forecast of 0.1% fall in a Reuters poll, and
against April's 2.03% gain. Meanwhile, the central bank is expected to keep benchmark
policy rate steady for a fourth straight meeting, according to a
Reuters poll, despite slowing growth and the way many Asian
central banks have shifted toward easing policy. PTT PCL PTT.BK and Advanced Info Service PCL ADVANC.BK
dropped 1% and 1.5%, respectively.
Vietnam stocks .VNI dropped 0.2% with financials
accounting for most of the decline.
Indonesian shares .JKSE gained 0.5% after three
consecutive sessions of losses, boosted by consumer and
financial stocks.
A surprise trade surplus in May spurred hopes for
improvements in the country's trade outlook despite the damaging
Sino-U.S. trade war. Telekomunikasi Indonesia TLKM.JK and Unilever Indonesia
Tbk Pt UNVR.JK gained 0.8% and 1.3%, respectively.
Philippine stocks .PSI edged up, heading for a sixth
straight sessions of gains.
Industrials and financials were among the top performers
with SM Investments Corp SM.PS and BDO Unibank Inc BDO.PS
rising 0.4% and 0.7%, respectively.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS As at 0336 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3309.14 3311.53 -0.07
Bangkok 1709.31 1716 -0.39
Manila 8068.01 8060.58 0.09
Jakarta 6322.402 6288.465 0.54
Kuala Lumpur 1674.79 1676.13 -0.08
Ho Chi Minh 960.55 962.85 -0.24

Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3309.14 3068.76 7.83
Bangkok 1709.31 1563.88 9.30
Manila 8068.01 7,466.02 8.06
Jakarta 6322.402 6,194.50 2.06
Kuala Lumpur 1674.79 1690.58 -0.93
Ho Chi Minh 960.55 892.54 7.62

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