(Corrects paragraph 7 to clarify that Phoenix Petroleum
Philippines is not a PSI index heavyweight)
* Singapore bourse sees worst session in 9 days
* Indonesian stocks fall ahead of cenbank meeting
* Vietnam index sole gainer in the region
By Shruti Sonal
Dec 19 (Reuters) - Most Southeast Asian stock markets edged
lower on Thursday, with the Philippine index leading losses, as
investors booked profits ahead of holiday season and as a lack
of clarity over the interim Sino-U.S. deal and prospects of a
hard Brexit weighed.
The "phase-one" trade agreement announced last week
suspended a threatened round of U.S. tariffs on a $160 billion
list of Chinese imports. However, a dearth of clarity over the
deal hampered investor optimism.
"In any case, the markets have overbought following the
recent U.S.-China trade news flow and it's not surprising to see
some profit-taking at the end of the year," Liu Jinshu, director
of research at Tayrona Financial said.
Leading losses in the region, the Philippine index .PSI
reversed course to drop 0.9%, dented by financials.
Domestic lenders have been pressured by media reports https://www.cnnphilippines.com/business/2019/12/17/BSP-Westpac-money-laundering.html?fbclid=IwAR3hA1_fJ07J83QDTDJWRrN1KftRKU53JPceI5gaLsZUkgHJ6FpX7ju8qaA%3Ffbclid
suggesting that the Philippine central bank will probe about 10
banks for ties with Australia's scandal-hit Westpac Banking Corp
WBC.AX .
BDO Unibank Inc BDO.PS shed over 4.4% to hit its lowest
since Nov. 27, while the Bank of the Philippine Islands BPI.PS
extended losses for a fourth straight session.
Phoenix Petroleum Philippines Inc PNX.PS , which is not a
constituent of the main board, saw its worst session since Sept.
9, after the company put on hold its plans for a $2 billion
Tanglawan LNG hub venture in Philippines with CNOOC Gas and
Power of China. Indonesian stocks .JKSE dropped, with most of the losses
concentrated in financials, ahead of central bank policy
meeting.
Bank Indonesia is likely to keep rates unchanged at its
final meeting of the year, though it may resume cutting rates in
2020, a Reuters poll showed. Shares of Bank Central Asia Tbk Pt BBCA.JK dropped 1.9%,
while Bank Mega Tbk Pt MEGA.JK fell 5.9%.
Trade-sensitive Singapore bourse .STI marked its worst
session in nine days, with information technology and telecom
sectors being the biggest drags in the index.
The foggy details on the U.S.-China arrangements regarding
Huawei have hurt sentiment in Singapore's export-reliant
electronics sector, Vishnu Varathan, senior economist, Mizuho
Bank said.
Index heavyweights Singapore Telecommunications STEL.SI
and electronics firm Venture Corp VENM.SI fell nearly 2% each.
Bucking the sombre mood, the Vietnam index .VNI was the
sole gainer in the region, with financials and real estate
sectors propping the index 0.5% higher.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS As at 0420 GMT
Market Current Previous close Pct Move
Singapore 3202 3209.54 -0.23
Bangkok 1557.08 1563.74 -0.43
Manila 7663.12 7733.67 -0.91
Jakarta 6259.06 6287.25 -0.45
Kuala Lumpur 1594.61 1599.11 -0.28
Ho Chi Minh 953.31 951.13 0.23
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3202 3068.76 4.34
Bangkok 1557.08 1563.88 -0.43
Manila 7663.12 7,466.02 2.64
Jakarta 6259.06 6,194.50 1.04
Kuala Lumpur 1594.61 1690.58 -5.68
Ho Chi Minh 953.31 892.54 6.81