* Philippines closes at its lowest level in nearly seven
weeks
* Singapore Oct industrial output rises, beats expectations
* Indonesia posts fourth straight session of losses
By Arundhati Dutta
Nov 26 (Reuters) - Most Southeast Asian stock markets
retreated from early gains on Tuesday amid worries that the
United States and China are unable to agree on tariff rollbacks,
despite signals that the two countries were close to an interim
trade deal.
China's commerce ministry said on Tuesday the country's Vice
Premier Liu He, U.S. Trade representative Robert Lighthizer and
U.S. Treasury Secretary Steven Mnuchin had a telephonic talk on
issues related to a phase one trade agreement.
While markets initially rose on the news, most indexes
traded lower at close as lack of concrete detail on the talks
spooked investors.
"Market players should stay alert, especially when factoring
the unpredictable nature of the trade talks," wrote Lukman
Otunuga, Senior Research Analyst at brokerage FXTM.
"If the two largest economies in the world are unable to
find a middle ground before the December 15 deadline when U.S.
tariffs are set to increase by 15%, trade tensions may
intensify."
Singapore shares .STI edged lower, amid diminishing hopes
of easing from the central bank after data showed that the
city-state's industrial production unexpectedly rose in October
and marked its biggest jump in nearly a year.
"We believe the Monetary Authority of Singapore (MAS) will
view upward growth momentum as sufficient reason to leave policy
on hold at its next review in April 2020," analysts at ING said
in a note.
Conglomerates Jardine Matheson Holdings JARD.SI and
Jardine Strategic Holdings JSH.SI skidded 1.9% and 1.3%,
respectively.
Trade worries continued to hurt risk appetite, with the
Philippines index .PSI ending 0.8% lower to close at its
lowest level in nearly seven weeks.
The benchmark was dragged by blue chips, with heavyweights
Ayala Land ALI.PS and Ayala Corp AC.PS shedding 3% and 4.3%,
respectively.
Indonesian equities .JKSE pulled back from early gains to
log a four-day losing streak, closing at their lowest level in
nearly seven weeks. Index heavyweight Telekomunikasi Indonesia
TLKM.JK dropped 2.3%.
Thai stocks .SETI slipped 0.3%, with utilities and
industrials the biggest losers. Airports of Thailand Pcl
AOT.BK lost 1.9%, while BGrimm Power Pcl BGRIM.BK fell 3.6%.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3207.85 3220.63 -0.40
Bangkok 1609.38 1614.8 -0.34
Manila 7707.8 7771.62 -0.82
Jakarta 6026.188 6070.762 -0.73
Kuala Lumpur 1583.87 1591.35 -0.47
Ho Chi Minh 976.79 976.35 0.05
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3207.85 3068.76 4.53
Bangkok 1609.38 1563.88 2.91
Manila 7707.8 7,466.02 3.24
Jakarta 6026.188 6,194.50 -2.72
Kuala Lumpur 1583.87 1690.58 -6.31
Ho Chi Minh 976.79 892.54 9.44