* Singapore non-oil domestic exports contract for 7th month
* Indonesia gains for fifth straight day
* Thailand snaps three-day winning streak
By Sameer Manekar
Oct 17 (Reuters) - Singapore's shares fell on Thursday after
the city-state reported dismal export figures, while most
Southeast Asian stock markets slipped as investors awaited more
details on the first phase of the Sino-U.S. trade deal.
China's commerce ministry said that the country hoped to
reach a phased agreement with the United States over trade as
early as possible, and make progress on cancelling tariffs on
each others' goods. However, news of the first phase of the deal last week has
failed to yield any concrete details so far, while officials
from both sides have also warned that much more work needed to
be done before an accord could be agreed.
Singapore's index .STI fell as much as 0.7% during the
day, marking its worst session in more than a week. It ended
0.3% lower. Industrial stocks accounted for most of the losses
on the local benchmark index, with Jardine Strategic Holdings
JSH.SI shedding 1.5%.
Singapore's non-oil domestic exports (NODX) shrank for a
seventh consecutive month in September owing to a slump in
electronics shipments, a key driver of growth, data released
earlier in the day showed. "With year-to-date NODX growth contraction already averaging
close to 10% yoy, the full-year 2019 NODX growth may potentially
mark the worst NODX contraction since 2009 post-GFC (global
financial crisis)," OCBC said in a note.
Singapore's Prime Minister Lee Hsien Loong also said the
city-state's economy would be lucky if GDP growth is above zero
this year as it faces uncertain times due to the Sino-U.S. trade
war. Among other Southeast Asian markets, Vietnam stocks .VNI
dropped to its lowest level in two weeks, dented by losses in
the real estate and financial sectors.
Joint Stock Commercial Bank for Foreign Trade of Viet Nam
VCB.HM and real estate developer Vingroup JSC VIC.HM lost
1.1% and 0.9%, respectively.
The Thai benchmark .SETI snapped a three-day gaining
streak, weighed down by energy stocks. PTT Pcl PTT.BK , the
country's largest energy firm and PTT Exploration and Production
Pcl PTTEP.BK slipped 1.7% each.
Meanwhile, Philippine stocks .PSI hit their highest level
in more than four weeks, buoyed by gains in the financial
sector. Metropolitan Bank and Trust Co MBT.PS and Bank of
Philippine Islands BPI.PS rose 1.2% and 1.1%, respectively.
Indonesia stocks .JKSE extended gains for a fifth straight
day, with consumer shares providing the biggest boost to the
local benchmark index.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3126.14 3134.71 -0.27
Bangkok 1632.8 1634.46 -0.10
Manila 7930.55 7915.3 0.19
Jakarta 6181.014 6169.592 0.19
Kuala Lumpur 1574.5 1574.9 -0.03
Ho Chi Minh 989.82 994.46 -0.47
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3126.14 3068.76 1.87
Bangkok 1632.8 1563.88 4.41
Manila 7930.55 7,466.02 6.22
Jakarta 6181.014 6,194.50 -0.22
Kuala Lumpur 1574.5 1690.58 -6.87
Ho Chi Minh 989.82 892.54 10.90