* Singapore hits two-week low
* Thai markets closed for holiday
By Anushka Trivedi
July 29 (Reuters) - Most Southeast Asian stock markets fell
on Monday as investors exercised caution ahead of a widely
anticipated rate cut by the Federal Reserve, with the focus
shifting to whether the U.S. central bank will signal further
monetary stimulus.
The Fed is broadly expected to dish out a quarter point
rate-cut at its policy review that ends on Wednesday, but
markets await chief Jerome Powell's speech to look for cues on
further policy easing as a protracted tariff dispute with China
continues to damage business sentiment.
Meanwhile, lead negotiators from the United States and China
are set to meet in Shanghai on Tuesday for their first
face-to-face interaction since trade talks stalled in May,
although hopes of an immediate breakthrough are limited.
U.S. President Donald Trump on Friday warned that China
could hold out until after the U.S. election in 2020 to secure a
trade deal to be able to negotiate with a different president.
"All talk and no action, will make for but shallow relief
and so sustained and significant 'risk on' reaction from
U.S.-China trade talks is highly unlikely," Mizuho said in a
note to clients.
In Southeast Asia, Singapore stocks .STI , which are
sensitive to developments in the Sino-U.S. trade tiff, declined
0.7% to two-week lows.
Industrials were the top losers with in-flight catering
service provider SATS Ltd SATS.SI and Hutchison Port Holdings
Trust HPHT.SI shedding 1.6% and 2.2%, respectively.
In other news, DBS Group Holdings Ltd DBSM.SI , Southeast
Asia's biggest lender, reported quarterly record net interest
income. DBS was the first Singapore bank to report earnings,
with rival banks soon to follow. DBS shares were 0.7% lower after rising in early trade.
Philippine shares .PSI shed 0.7% amid broad-based losses.
Power generator First Gen Corp FGEN.PS dropped 1.9%, while
property developer GT Capital Holdings GTCAP.PS skidded 2%.
Indonesian shares .JKSE edged lower to five-week lows due
to weakness in consumer and telecom stocks.
Bucking the trend, Vietnam shares .VNI inched higher.
Thailand's stock market .SETI was closed for a holiday.
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SOUTHEAST ASIAN STOCK MARKETS
STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3341.98 3363.76 -0.65
Bangkok
Manila 8128.83 8183.99 -0.67
Jakarta 6308.422 6325.237 -0.27
Kuala Lumpur 1643.58 1647.96 -0.27
Ho Chi Minh 993.99 993.35 0.06
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3341.98 3068.76 8.90
Bangkok 1717.97 1563.88 9.85
Manila 8128.83 7,466.02 8.88
Jakarta 6308.422 6,194.50 1.84
Kuala Lumpur 1643.58 1690.58 -2.78
Ho Chi Minh 993.99 892.54 11.37