* Indonesia returns to trade deficit in Sept
* Philippines leads losses in the region
* Malaysia snaps three straight session of gains
By Sameer Manekar
Oct 15 (Reuters) - Most Southeast Asian stock markets ended
lower on Tuesday, with Philippines falling the most, as optimism
over a Sino-U.S. trade deal faded after Chinese demanded further
talks, while investors also sought more details on the partial
deal struck last week.
China wants more talks before the end of October to hammer
out the details of U.S. President Donald Trump's proposed deal
before Chinese President Xi Jinping signs it, Bloomberg reported
on Monday. Markets around the globe had earlier cheered reports of a
"Phase 1" trade deal between the United States and China,
however a dearth of details around the agreement has curbed
enthusiasm. MKTS/GLOB
"The Asia-Pacific Economic Cooperation meeting next month,
where Trump and Xi will be meeting, will be a key event to watch
out for," Joel Ng, an analyst at KGI Securities said.
"If they don't have a deal, then it is likely that December
15 tariffs come into effect, and that will be really negative
for the markets."
The long-drawn Sino-U.S. trade war has largely weighed on
Southeast Asian economies, which count China as their top trade
partner.
Philippine stocks .PSI snapped a three-day winning streak
to post its worst session in nearly a week, as weakness in
financial and consumer sectors weighed.
Index heavyweight SM Prime Holdings SMPH.PS and SM
Investments Corp SM.PS were among the biggest drags on the
Manila index, shedding 2.8% and 1.5% each.
Singapore's Straits Times index .STI declined 0.3%, dragged
by financials and industrial firms.
Capitaland Mall Trust CMLT.SI and Singapore Technologies
Engineering STEG.SI lost 1.1% and 1.2%, respectively.
Malaysian stocks .KLSE edged lower after three consecutive
sessions of gains. Mobile communication service provider
Digi.com Bhd DSOM.KL and IHH Healthcare IHHH.KL slipped 1.9%
and 2.4% each.
Bucking the trend, Indonesian stocks .JKSE advanced 0.5%,
buoyed by materials and consumer staples firms.
Data released earlier in the day showed that Southeast
Asia's largest economy swung back to a trade deficit in
September as the pace of the decline in imports was slower than
expected. "With Indonesia's inflation within the target (3.39% in
September) and growth momentum constrained, we expect the
central bank to consider cutting policy rates further to give
the economy an added boost," ING said in a note.
Pulp and paper products maker PT Indah Kiat Pulp & Paper
INKP.JK and tobacco firm PT Japfa Comfeed Indonesia JPFA.JK
jumped 11.6% and 1.9%, respectively.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3116.17 3124.45 -0.27
Bangkok 1627.01 1626 0.06
Manila 7840.31 7884.29 -0.56
Jakarta 6158.166 6126.877 0.51
Kuala Lumpur 1566.23 1567.59 -0.09
Ho Chi Minh 993.05 993.57 -0.05
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3116.17 3068.76 1.54
Bangkok 1627.01 1563.88 4.04
Manila 7840.31 7,466.02 5.01
Jakarta 6158.166 6,194.50 -0.59
Kuala Lumpur 1566.23 1690.58 -7.36
Ho Chi Minh 993.05 892.54 11.26