* Singapore snap four sessions of gains
* Indonesia posts lowest close since May 31
* Philippines closed for a holiday
By Shreya Mariam Job
June 12 (Reuters) - Most Southeast Asian stock markets fell
on Wednesday, with Vietnam taking the biggest hit, as fears of
slowing growth in China and dwindling hopes of progress in
Sino-U.S. trade talks dampened the trading sentiment.
Investors across broader Asia were wary about slowing growth
in China and paling expectations of a meeting between U.S.
President Donald Trump and his Chinese counterpart Xi Jinping to
work towards a resolution to a prolonged trade war. MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS had slipped 0.6% after two days of gains.
Meanwhile, China's factory inflation slowed in May as
faltering manufacturing hit demand, reinforcing worries about
cooling growth in the world's second-largest economy, while a
surge in food prices could add to consumer grievances about
living costs. Leading declines in the region, Vietnam's benchmark index
.VNI shed 0.8%, with real estate and financial stocks dragging
the index. Shares of Petrovietnam Gas JSC GAS.HM lost 2.4%
while Vingroup JSC VIC.HM dipped 0.9%.
The country had a trade deficit of $1.3 billion in May,
matching the government's forecast, customs data showed after
market hours on Tuesday. Indonesian stocks .JKSE fell 0.5%, snapping a four-
session rally.
Financial and telecom stocks contributed to the losses with
Bank Central Asia Tbk Pt BBCA.JK down 1.1% and Telekomunikasi
Indonesia TLKM.JK , which was trading ex-dividend from
Wednesday, down 2.0%.
Indonesia's central bank sees economic growth of 5.1-5.5% in
2020, while continuing to monitor global economic conditions to
assess whether there is scope for an "accommodative monetary
policy", Bank Indonesia governor Perry Warjiyo said.
Meanwhile, Singapore's index .STI reversed course to fall
0.1%, ending a winning streak of four consecutive gains.
"Hard for traders to take any aggressive stance on the
market, especially with an upcoming event, which is the meeting
between President Trump and Xi," said Paul Chew, head of
research at Phillip Securities Research.
The country's retail sales fell 1.8% in April from the
previous year, showing a decline in consumer spending and
thereby domestic demand. Consumer stock Thai Beverage PCL TBEV.SI shed 1.8%.
The index was also weighed by industrial and real estate
stocks with Jardine Matheson Holdings Ltd dropping 1% and
Hongkong Land Holdings Ltd HKLD.SI sliding 2.9%.
Meanwhile, Thailand's index .SETI ended marginally higher
helped by gains in financials and telecom stocks.
The Philippine stock market .PSI was closed for a holiday.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3207.74 3209.58 -0.06
Bangkok 1671.11 1670.41 0.04
Jakarta 6276.177 6305.992 -0.47
Kuala Lumpur 1650.74 1651.2 -0.03
Ho Chi Minh 954.17 962.07 -0.82
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3207.74 3068.76 4.53
Bangkok 1671.11 1563.88 6.86
Jakarta 6276.177 6,194.50 1.32
Kuala Lumpur 1650.74 1690.58 -2.36
Ho Chi Minh 954.17 892.54 6.91