(Corrects paragraph 5 to say market analyst is from CMC
Markets, not CFA)
* Singapore Oct exports shrink, missing estimates
* Thailand flat as Q3 GDP growth misses forecast
* Philippines falls to four-week low
By Arundhati Dutta
Nov 18 (Reuters) - Most Southeast Asian stock markets inched
lower on Monday, with the Philippines leading declines, as
investors laid off heavy bets amid political unrest in Hong Kong
and a lack of concrete signs of progress in the Sino-U.S. trade
negotiations.
Doubts about the trade talks emerged early last week,
although optimism gradually returned as U.S. officials sounded
more positive. Neither side, however, provided concrete details
about headway in their trade talks.
On Saturday, Chinese state media said the two sides had
"constructive talks" on trade that included Vice Premier Liu He,
U.S. trade representative Robert Lighthizer and Treasury
Secretary Steven Mnuchin. A dramatic escalation of the political unrest in Hong Kong
dented investor sentiment further, as local police warned that
they were ready to use live bullets if "rioters" continued to
use lethal weapons. "In the short term, trade negotiations and the unrest in
Hong Kong are two major factors that suppress the risk appetite
across Asia," said Margaret Yang, market analyst at CMC Markets
in a note.
Broader Asian peers rallied after the central bank of China,
Southeast Asia's biggest trading partner, unexpectedly trimmed a
key interbank lending rate on Monday, the first easing in the
liquidity tool in more than four years. However, the rate cut
failed to lift risk appetite in the Southeast Asian region.
The Philippines index .PSI slipped to its lowest in four
weeks, with financial services provider GT Capital Holdings
GTCAP.PS shedding over 2.3%, while telecommunication services
provider Globe Telecom GLO.PS lost 1%.
Indonesian stocks .JKSE retreated from previous session's
gains, with index heavyweight Telekomunikasi Indonesia TKLM.JK
accounting for a majority of losses in the benchmark.
The Thai index .SETI was flat after data showed that the
country's trade-dependent economy grew at its slowest quarterly
rate in a year in the third quarter, leading the government to
cut this year's growth estimate once again. Financials were the biggest drags in the index, with Siam
Commercial Bank SCB.BK dropping 1.3%.
Bucking the sombre mood, Singapore's index .STI logged in
marginal gains even after data implied that the city-state's
exports in October shrank for an eighth straight month, missing
expectations. While electronics shipments fell 16.4% in October, the
figure could be viewed as showing some tentative signs of
stabilization after hitting bottom in June this year, OCBC said
in a note. The Malaysian index .KLSE traded little changed, while
Vietnamese stocks .VNI dipped to their lowest since Nov. 1.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS at 0506 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3248.26 3238.86 0.29
Bangkok 1603.37 1602.23 0.07
Manila 7897.64 7932.96 -0.45
Jakarta 6111.46 6128.345 -0.28
Kuala Lumpur 1593.88 1594.75 -0.05
Ho Chi Minh 1004.88 1010.03 -0.51
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3248.26 3068.76 5.85
Bangkok 1603.37 1563.88 2.53
Manila 7897.64 7,466.02 5.78
Jakarta 6111.46 6,194.50 -1.34
Kuala Lumpur 1593.88 1690.58 -5.72
Ho Chi Minh 1004.88 892.54 12.59