* Thai central bank policy decision awaited
* Indonesia up for 2nd day, Philippines top loser
By Shreya Mariam Job
June 26 (Reuters) - Most Southeast Asian stock markets
slipped on Wednesday as comments from U.S. Federal Reserve
officials curbed rate-cut enthusiasm.
Fed officials on Tuesday pushed back on market expectations
and presidential pressure for the central bank to deliver a
significant rate cut of half a percentage point as soon as its
next meeting. Fed Chair Jerome Powell said the central bank was "insulated
from short-term political pressures" and that Fed policymakers
were wrestling with whether uncertainties around U.S. tariffs,
Washington's conflict with trading partners and tame inflation
require a rate cut.
"This suggests a more measured and calibrated easing
response from the Fed, pushing back on markets' aggressive
pricing of Fed rate cuts," Mizuho Bank said in a note.
Philippine stocks .PSI shed 0.4% with industrials
accounting for most of the losses.
SM Investments Corp SM.PS dipped and Universal Robina Corp
URC.PS fell 1.3% each.
Singapore stocks .STI slipped marginally ahead of
manufacturing output data for May.
Manufacturing output last month was expected to have
declined 2.2% from a year earlier, according to a Reuters poll.
It rose 0.1% in April.
The export-reliant economy has been hit by a prolonged trade
war between the United States and China, and the data would shed
light on whether the city state is out of the woods.
Malaysian stocks .KLSE traded in a tight range. Loss was
broad-based with Tenaga Nasional Bhd TENA.KL and Sime Darby
Plantation Bhd SIPL.KL declining 0.7% and 0.6%, respectively.
Malaysia's consumer price index in May rose 0.2% from a year
earlier, missing the 0.3% increase forecast by a Reuters poll.
Thai stocks .SETI edged lower ahead of a central bank
policy decision.
The Bank of Thailand is expected to keep its benchmark
policy rate steady for a fourth straight meeting, a Reuters poll
showed.
Meanwhile, Indonesian shares .JKSE rose for a second
straight session, supported by modest gains in telecom and
financial stocks.
Telekomunikasi Indonesia TLKM.JK and Bank Central Asia
BBCA.JK gained 0.8% and 0.3%, respectively.
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SOUTHEAST ASIAN STOCK MARKETS As At 0357 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3298.32 3304.27 -0.18
Bangkok 1719.99 1721.33 -0.08
Manila 8000.07 8034.09 -0.42
Jakarta 6325 6320.445 0.07
Kuala Lumpur 1674.18 1676.61 -0.14
Ho Chi Minh 959.39 960.13 -0.08
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3298.32 3068.76 7.48
Bangkok 1719.99 1563.88 9.98
Manila 8000.07 7,466.02 7.15
Jakarta 6325 6,194.50 2.11
Kuala Lumpur 1674.18 1690.58 -0.97
Ho Chi Minh 959.39 892.54 7.49