* Sino-U.S. trade talks slated to start Thursday
* Philippine c.bank gov signals end of rate cuts for 2019
* Malaysia touches lowest close in over 4 years
By Soumyajit Saha
Oct 9 (Reuters) - Most Southeast Asian stock markets closed
lower on Wednesday as rising tensions between the United States
and China punctured hopes of a trade deal with talks slated to
begin on Thursday.
The dispute intensified after Washington imposed visa
restrictions on Chinese officials over the mistreatment of
Muslim minorities, a day from the Commerce Department
blacklisting various Chinese companies for the same reason.
Thursday's meetings, the first ministerial-level meeting in
months, is being monitored for signs of respite from a tariff
war that has deeply damaged global economic growth.
"The movement is definitely reactionary given that there is
little expectations of a deal now, and we will also have to look
out for Chinese retaliation," said Joel Ng, an analyst with KGI
Securities.
Philippine shares .PSI dropped 1%, reversing strong gains
from the day before, as the country's central bank governor said
further rate cuts this year are unlikely. Index heavyweights SM Prime Holdings SMPH.PS and SM
Investments Corp SM.PS fell 1.7% and 1.9% respectively.
Singapore's benchmark index .STI snapped two sessions of
gains to fall, weighed down by banking and industrial shares.
Southeast Asia's largest bank, DBS Group Holdings DBSM.SI ,
lost 0.7%, while conglomerate Jardine Matheson Holdings
JARD.SI was trading 2% down.
Malaysian stocks .KLSE closed at their lowest in over four
years, hurt by losses in the banking and consumer sectors.
Malayan Banking MBBM.KL fell 0.8%, while palm oil producer
Sime Darby Plantation SIPL.KL dropped 1%.
Bucking the general trend, Thai stocks .SETI rose, helped
by gains in the utility sector, with electricity distributor
Global Power Synergy GPSC.BK rising 5%.
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SOUTHEAST ASIAN STOCK MARKETS
STOCK MARKETS
Change on the day
Market Current Previous Pct Move
close
Singapore 3089.9 3110.85 -0.67
Bangkok 1616.18 1612.17 0.25
Manila 7681.25 7756.72 -0.97
Jakarta 6029.16 6039.601 -0.17
Kuala Lumpur 1551.23 1558.79 -0.48
Ho Chi Minh 987.83 988.22 -0.04
Change so far in
2019
Market Current End 2018 Pct Move
Singapore 3089.9 3068.76 0.69
Bangkok 1616.18 1563.88 3.34
Manila 7681.25 7,466.02 2.88
Jakarta 6029.16 6,194.50 -2.67
Kuala Lumpur 1551.23 1690.58 -8.24
Ho Chi Minh 987.83 892.54 10.68