* Singapore shares set to snap 3 sessions of gains
* Thai shares up ahead of c.bank meeting
* Malaysia falls after 5 sessions in the green
By Pranav A K
May 20 (Reuters) - Most Southeast Asian stock markets
slipped on Wednesday, tracking overnight losses on Wall Street,
as investors refrained from making big bets after doubts were
cast over a recent early-stage trial of a coronavirus vaccine.
Data from a small, early-stage safety trial testing Moderna
Inc's MRNA.O experimental COVID-19 vaccine does not provide
the critical data needed to assess its effectiveness,
health-focused Stat News reported on Tuesday, citing experts.
"Asian markets may retreat on Wednesday after a setback in
vaccine optimism with investors refocusing on the downbeat
economic outlook induced by COVID-19," economists at ING said in
a note.
Leading losses in Southeast Asia, Singapore's Straits Times
Index .STI snapped three sessions of gains and fell 1%, with
industrial stocks weighing the most, even as the city-state
looks to restart its economy with a phased easing of
restrictions. Singapore Airlines SIAL.SI and conglomerate Jardine
Matheson Holdings JARD.SI shed as much as 3.2% and 2.7%,
respectively.
ING economists, however, said Singapore's economy would take
a long time to recover as a gradual three-phase reboot will not
be completed for several months more at least.
In Indonesia, the benchmark .JKSE edged lower as capital
Jakarta extended coronavirus-related curbs until June 4.
The index is set to snap two straight sessions of gains.
Pollux Properti Indonesia POLL.JK slid 6.9%, while PT Bank
Tabungan Pensiunan Nasional Syariah BTPS.JK lost 4.6%.
Malaysian shares .KLSE ticked lower after gaining for five
sessions, ahead of April inflation data.
Thai stocks .SETI inched 0.5% higher, ahead of the
country's central bank's meeting. The Bank of Thailand is widely
expected to cut interest rates by another 25 basis points,
bringing the policy rate down to 0.5%. "However, with growth already in negative territory... don't
be surprised if we see a bigger, 50bp rate cut today," ING
economists said.
Vietnam shares .VNI found solace in a potential free trade
agreement with the European Union (EU), and edged higher.
The World Bank said the trade pact with EU set to soon be
ratified by Vietnam should boost the Asian nation's economic
recovery from the coronavirus pandemic. Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS AS OF 0323 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 2556.07 2581.33 -0.98
Bangkok 1315.53 1309.95 0.43
Manila 5532.45 5555.85 -0.42
Jakarta 4529.428 4548.656 -0.42
Kuala Lumpur 1423.19 1423.97 -0.05
Ho Chi Minh 849.04 845.92 0.37
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 2556.07 3222.83 -20.69
Bangkok 1315.53 1579.84 -16.73
Manila 5532.45 7,815.26 -29.21
Jakarta 4529.428 6,299.54 -28.10
Kuala Lumpur 1423.19 1588.76 -10.42
Ho Chi Minh 849.04 960.99 -11.65