* Indonesia falls for quarter after rising for three
* Thai May exports contract
* Philippines up for fourth consecutive quarter
By Shreya Mariam Job
June 28 (Reuters) - Most Southeast Asian stock markets ended
flat on Friday in lacklustre trade, as investors held off taking
fresh positions on the last trading day of the quarter and ahead
of a crucial meeting between the leaders of the United States
and China.
U.S. President Donald Trump said earlier in the day he had
not promised Chinese President Xi Jinping a reprieve from
escalating tariffs in a trade war that is casting a shadow on
global growth, but felt their talks planned for the next day
would be productive. "With much of the fate of the global economy hanging on the
outcome of this weekend, and the likely direction of markets
also crucially dependent on the outcome of talks, today has the
eerie sense of a slow march to the gallows, listening out
hopefully for calls of a reprieve from the prison governor," an
ING note said commenting on the G20 and Xi-Trump meeting.
The Philippine index .PSI fell 0.7% with financials and
consumer stocks dragging the index. The index, however, posted
its fourth consecutive quarterly gain, rising 1%.
Universal Robina Corp URC.PS and SM Prime Holdings Inc
SMPH.PS dropped 4.6% and 2.1% , respectively.
Thai stocks traded relatively flat. The country's May
current account deficit was $0.38 billion, the first deficit
since September 2014, after exports in May contracted 7.2% from
a year earlier, after declining 2.9% in April. Vietnam's benchmark .VNI recouped some of the losses from
the previous session with real estate and consumer stocks
boosting the index.
Shares of Vinhomes JSC VHM.HM gained 2.3%, while Saigon
Beer Alcohol Beverage Corp SAB.HM added 1.1%.
The country's economic growth remained strong in the second
quarter, backed by robust exports and foreign investment amid
the ongoing trade war between Washington and Beijing.
Financials drove the Indonesian stocks .JKSE slightly
higher. The index snapped a three-quarter rally and fell 1.7%
for the quarter ending June.
Indonesia's annual inflation rate is seen slowing in June
from a month earlier as prices of goods and services return to
normal following the Muslim fasting month of Ramadan, a Reuters
poll showed. Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3321.61 3328.6 -0.21
Bangkok 1730.34 1731.64 -0.08
Manila 7999.71 8057.64 -0.72
Jakarta 6358.629 6352.71 0.09
Kuala Lumpur 1672.13 1672.7 -0.03
Ho Chi Minh 949.94 943.11 0.72
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3321.61 3068.76 8.24
Bangkok 1730.34 1563.88 10.64
Manila 7999.71 7,466.02 7.15
Jakarta 6358.629 6,194.50 2.65
Kuala Lumpur 1672.13 1690.58 -1.09
Ho Chi Minh 949.94 892.54 6.43
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