* Singapore hits near 3-week low, falls 0.7%
* Philippines snaps four straight sessions of losses
* Malaysia recovers from earlier losses
By Arundhati Dutta
Nov 19 (Reuters) - Most Southeast Asian stock markets
recouped losses from earlier in the session on Tuesday, with
Singapore falling over 0.6%, although mixed signals from
Washington and Beijing on trade talks capped gains.
The Trump administration decided to grant a new extension
which allowed U.S. companies to continue doing business with
China's Huawei, stoking hopes of a truce. However, CNBC reported overnight that China was
"pessimistic" about a trade agreement because of U.S. President
Donald Trump's reluctance to roll back tariffs. "The trade-talks are starting to look more like an iceberg,
and not a lighthouse," Jeffrey Halley, senior market analyst for
Asia Pacific at OANDA said in a note.
Singapore stocks .STI fell 0.7% to hit a near 3-week low.
Index heavyweights Jardine Matheson Holdings JARD.SI and
Jardine Strategic Holdings shed 1.8% each.
The Philippines benchmark .PSI snapped four straight
sessions of losses to end 0.4% higher. Power retailer Aboitiz
Power Corp AC.PS added 2.4%, while telco Globe Telecom
GLO.PS gained 0.9%.
Indonesian shares .JKSE rose 0.48%, buoyed by financials.
Shares of PT Bank Central Asia BBCA.JK rose 0.6% while PT
Bank Mandiri (Persero) BMRI.JK added 2.5%, both hitting their
highest level in nearly two weeks.
Meanwhile, Malaysian equities .KLSE recovered from losses
suffered earlier in the session to end flat.
The index had fallen as much as 0.6% earlier after a
minister said that the country would enforce new food safety
regulations under consideration by the European Union on palm
oil by 2021. Palm oil growers faced added challenges, with government
officials also saying they would mandate the palm oil industry
to meet certain workers' rights and environmental protection
standards by 2020. Losses suffered by palm oil cultivators like PPB Group
PEPT.KL and Hap Seng Consolidated HAPS.KL were offset by
gains by financial stocks such as Public Bank PUBM.KL and Hong
Leong Bank HLBB.KL .
Vietnamese equities .VNI tacked on 0.6%, lifted by
financial stocks.
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SOUTHEAST ASIAN STOCK MARKETS
Market Current Previous close Pct Move
Singapore 3236.99 3258.66 -0.66
Bangkok 1603.59 1608 -0.27
Manila 7912.14 7880.94 0.40
Jakarta 6152.09 6122.625 0.48
Kuala Lumpur 1605.31 1604.36 0.06
Ho Chi Minh 1008.35 1002.91 0.54
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3236.99 3068.76 5.48
Bangkok 1603.59 1563.88 2.54
Manila 7912.14 7,466.02 5.98
Jakarta 6152.09 6,194.50 -0.68
Kuala Lumpur 1605.31 1690.58 -5.04
Ho Chi Minh 1008.35 892.54 12.98