* Indonesia rises for 9 straight sessions
* Singapore falls most in two weeks
* Malaysia Sept inflation +1.1% (Reuters poll: +1.4%)
By Sameer Manekar
Oct 23 (Reuters) - The majority of the southeast Asian stock
markets ended lower on Wednesday, with Singapore leading losses,
as investors booked profits after recent gains, while revenue
warning from a major U.S. chipmaker revived concerns about
global economic growth.
Leading the declines in the region, Singapore shares .STI
posted their worst fall in two weeks, dragged by the financial
and industrial sectors.
Texas Instruments Inc TXN.O , whose broad lineup of
products makes it a proxy for the global chip industry, forecast
current-quarter revenue to be well below estimates on Tuesday.
Given that Texas Instruments supplies to a broad range of
industries, a weak outlook, along with the mention that the
trade war is making customers more cautious, has probably
impacted broader sentiment in Asia, said Joel Ng, an analyst at
KGI Securities.
The Straits Times index was weighed down by lender United
Overseas Bank UOBH.SI and industrial conglomerate Jardine
Matheson Holdings JARD.SI which fell 0.5% and 1.3%,
respectively.
The city-state's core inflation rose slightly less in
September than it did in the previous month as it hit a more
than three-year low, data showed on Wednesday. Meanwhile, Indonesia's benchmark index .JKSE added 0.5%,
posting its ninth straight session of gains, ahead of the
central bank's policy meet on Thursday.
Bank Indonesia is expected to cut its benchmark rate by 25
basis points to support the economy, according to analysts
polled by Reuters. nL3N2762MS
Index heavyweights Bank Rakyat Indonesia BBRI.JK and
Telekomunikasi Indonesia TLKM.JK gained 1% and 0.7%,
respectively.
An index of the country's 45 most liquid stocks .JKLQ45
rose 0.9%.
Risk appetite in the region was also curbed as investors
awaited signs of resolution in the prolonged Sino-U.S. trade
dispute, amid news reported by Reuters that the U.S. trade
adviser to President Donald Trump is set to leave the
administration. Malaysian stocks .KLSE fell most in two weeks, dragged
lower by the financial and consumer sectors.
Hong Leong Financial Group HLCB.KL and Sime Darby
Plantation SIPL.KL were among the top losers, falling 3.3% and
0.9%, respectively.
Data released on Wednesday showed Malaysia's inflation
rising at a slower-than-expected pace in September from a year
earlier. Bank Negara Malaysia, which cut its key interest rate in May
for the first time since 2016 amid low inflation and concerns
over slowing growth, is set to meet on Nov. 5 for its next
monetary policy decision.
The Philippine bourse .PSI slipped 0.3%, coming off an
over five-week high, as investors locked in gains after rising
for the previous two sessions.
Financials and consumer firms were among the top losers,
with BDO Unibank BDO.PS and Universal Robina Corp URC.PS
losing 1.1% each.
Thai markets were closed for a holiday.
For Asian Companies click
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3144.28 3160.67 -0.52
Manila 7933.76 7955.24 -0.27
Jakarta 6257.806 6225.497 0.52
Kuala Lumpur 1568.79 1574.09 -0.34
Ho Chi Minh 987.79 987.19 0.06
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3144.28 3068.76 2.46
Bangkok 1631.46 1563.88 4.32
Manila 7933.76 7,466.02 6.26
Jakarta 6257.806 6,194.50 1.02
Kuala Lumpur 1568.79 1690.58 -7.20
Ho Chi Minh 987.79 892.54 10.67