* China tariff rollback faces opposition in White House-
report
* Singapore set for fifth straight weekly gain
* Thailand set to post biggest weekly gain in over 1 year
By Sameer Manekar
Nov 8 (Reuters) - Most Southeast Asian markets on Friday
retreated from the recent risk-on rally, with Singapore falling
the most, as sentiment was hit by doubts over Washington's
tariff rollback announcement.
A Reuters exclusive report of fierce internal opposition in
the White House to a possible rollback of U.S. tariffs on China
diminished initial optimism over a "phase-one" deal being
reached between the two. The idea of a tariff rollback was not part of the original
October "handshake" deal between Chinese Vice Premier Liu He and
U.S. President Donald Trump, sources told Reuters.
China's commerce ministry had said on Thursday that the two
sides had agreed on tariff reductions in phases. "Investors may remain cautious until they see details. The
rollback of existing tariffs is a positive surprise. However,
given President Trump's love of tariffs, the additional element
may risk prolonging the phase one negotiation," OCBC said in a
note.
U.S. stock futures were down about 0.1% to 0.3% in Asian
trade.
Singapore's benchmark index .STI retreated from a more
than three-week high on Thursday, as industrials and financials
weakened.
Casino operator Genting Singapore GENS.SI fell as much as
3.7% on poor third-quarter earnings reported on Thursday after
market hours. Industrial conglomerate Jardine Strategic Holdings JSH.SI
and Ascendas Real Estate Investment Trust AEMN.SI were among
biggest losers, declining as much as 2.9% and 5.8%,
respectively.
However, the index is on track to rise for a fifth
consecutive week.
The Philippine bourse .PSI hit its lowest in more than a
week, dragged by consumer and utilities stocks.
SM Investments Corp SM.PS and Aboitiz Equity Ventures
AEV.PS were down as much as 1.8% and 1.6%, respectively.
The index was set to post its fifth consecutive weekly gain.
Indonesian shares .JKSE extended losses into a third
straight session due to a fall in communication and financial
sectors.
State-owned telecom firm Telekomunikasi Indonesia TLKM.JK
fell up to 2%, while Bank Central Asia BBCA.JK is set to snap
four consecutive weekly gains.
An index of the country's 45 most liquid stocks .JKLQ45
lost as much as 0.8%, set for a third straight loss session.
Thai stocks .SETI were down 0.3%, dragged by real estate
and consumer firms, while Malaysia's benchmark index .KLSE
ticked lower.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0420 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3259.65 3285.72 -0.79
Bangkok 1636.14 1640.88 -0.29
Manila 8020.7 8073.81 -0.66
Jakarta 6160.767 6165.624 -0.08
Kuala Lumpur 1607.77 1609.33 -0.10
Ho Chi Minh 1023.98 1024.03 0.00
Change on year
Market Current End 2018 Pct Move
Singapore 3259.65 3068.76 6.22
Bangkok 1636.14 1563.88 4.62
Manila 8020.7 7466.02 7.43
Jakarta 6160.767 6194.498 -0.54
Kuala Lumpur 1607.77 1690.58 -4.90
Ho Chi Minh 1023.98 892.54 14.73