* Singapore top loser, falls most in one month
* Indonesia rises as central bank sees improved Q4 GDP
* Philippines rises for fifth consecutive week
By Sameer Manekar
Nov 8 (Reuters) - Most Southeast Asian markets closed lower
on Friday, as a report on internal opposition in Washington to
tariff rollback on Chinese goods trumped optimism over the
possibility of an interim Sino-U.S. trade deal.
On Thursday, a Reuters exclusive report cited sources saying
the agreement between the two sides to roll back tariffs as a
part of a "phase one" trade deal faced opposition in the White
House. There is a divide within the administration over whether
rolling back tariffs will give away U.S. leverage in the
negotiations, the sources said.
"It will be a while before all the tariffs go down ... there
are a lot of things that could happen moving forward. Investors
are worried, since we know that Trump is very fickle in terms of
tariffs policies," said Rachelle Cruz, an analyst at AP
Securities.
Singapore's benchmark index .STI closed 0.7% lower,
posting its worst session in one month.
The city-state, which relies heavily on electronics
shipments for economic growth, is sensitive to the trade
disruptions caused by tariffs between the United States and
China.
Financial and industrial firms were the biggest drags, with
heavyweight Jardine Matheson Holdings JARD.SI losing 2.4%, and
Ascendas Real Estate Investment Trust AEMN.SI shedding 7.4%.
The index, however, posted a fifth consecutive weekly gain.
The Philippine bourse .PSI trimmed its losses from earlier
in the session to finish 0.1% lower.
DMCI Holdings DMC.PS and Alliance Global Group AGI.PS
fell 5.2% and 6%, respectively, after MSCI deleted the two
stocks from its global standard indexes as a part of a quarterly
index review "The decline in the index mostly reflects the decrease in
the weight of the Philippines in MSCI emerging markets," Cruz
said.
Malaysia's benchmark index .KLSE inched up to close at
over two-month high.
Bank stocks rose following an unexpected cut by the central
bank of its statutory reserve requirement, to "maintain
sufficient liquidity". CIMB Group Holdings CIMB.KL and Public Bank PUBM.KL
gained 1.9% and 0.4%, respectively.
Indonesian shares .JKSE ended 0.2% higher, having traded
subdued for most parts of the session. The archipelago's central
bank forecast an improvement in the country's exports and GDP
growth in the fourth quarter. Coal miner United Tractors UNTR.JK added 5.6%, while
instant noodles maker Indofood CBP Sukses Makmur ICBP.JK
advanced 4.4%.
Thai stocks .SETI edged lower, with biggest stock on the
index PTT PCL PTT.BK closing 1.1% down.
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SOUTHEAST ASIAN STOCK MARKETS
Market Current Previous close Pct Move
Singapore 3264.3 3285.72 -0.65
Bangkok 1637.85 1640.88 -0.18
Manila 8065.76 8073.81 -0.10
Jakarta 6177.986 6165.624 0.20
Kuala Lumpur 1609.73 1609.33 0.02
Ho Chi Minh 1022.49 1024.03 -0.15
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3264.3 3068.76 6.37
Bangkok 1637.85 1563.88 4.73
Manila 8065.76 7,466.02 8.03
Jakarta 6177.986 6,194.50 -0.27
Kuala Lumpur 1609.73 1690.58 -4.78
Ho Chi Minh 1022.49 892.54 14.56