* Philippines snaps five-day rally
* Thai cenbank policy decision on Wednesday
* Indonesia snaps three-day losing streak
By Shreya Mariam Job
June 25 (Reuters) - Most Southeast Asian stock markets
traded sideways on Tuesday, as investors remained wary ahead of
a crucial meeting between U.S. President Donald Trump and his
Chinese counterpart Xi Jinping on the sidelines of the G20
summit.
Trump views the meeting as a chance to see where Beijing
stands on the trade war, and is "comfortable with any outcome"
from the talks, a senior U.S. official said on Monday.
Investors across the board exercised caution amid the
uncertainty shrouding the results of the meeting with MSCI's
broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS down 0.4%.
Philippine's index .PSI snapped five consecutive sessions
of gains and ended 0.3% lower, with losses among heavyweight
real estate stocks weighing on the index.
Ayala Land Inc ALI.PS and SM Prime Holdings Inc SMPH.PS
shed 2.4% and 1.2%, respectively.
The country had a budget balance of 2.6 billion pesos
($50.62 million) in May. Financial stocks pulled Singapore's benchmark index .STI
marginally lower, with DBS Group Holdings Ltd DBSM.SI and
United overseas Bank Ltd UOBH.SI down 0.7% and 0.6%,
respectively.
Thai stocks .SETI reversed course to end the session 0.3%
higher, as investors awaited key policy decisions by the Bank of
Thailand on Wednesday.
The country's central bank is expected to keep its benchmark
policy rate steady for a fourth straight meeting, according to a
Reuters poll.
ING, an outlier calling a cut in the upcoming policy
meeting, forecast a 25 basis point policy rate cut to 1.50%.
"...both equities and government bonds stand to benefit from
lower interest rates, without causing too much impact for the
currency, which is benefiting from a strong external payments
position," ING said in a note to clients.
Meanwhile, the country's May manufacturing production index
dropped 3.99% from a year earlier compared to a forecast fall of
0.1% in a Reuters poll. Shares of Charoen Pokphand Foods PCL CPF.BK and Indorama
Ventures PCL IVL.BK gained 1.8% and 1.6%, respectively.
Indonesian stocks .JKSE snapped three sessions of losses
and gained 0.5%, boosted by material and energy stocks with a 7%
rise in Bayan Resources Tbk Pt BYAN.JK and 0.8% rise in
Telekomunikasi Indonesia TLKM.JK supporting the index.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3304.27 3311.53 -0.22
Bangkok 1721.33 1716 0.31
Manila 8034.09 8060.58 -0.33
Jakarta 6320.445 6288.465 0.51
Kuala Lumpur 1676.61 1676.13 0.03
Ho Chi Minh 960.13 962.85 -0.28
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3304.27 3068.76 7.67
Bangkok 1721.33 1563.88 10.07
Manila 8034.09 7,466.02 7.61
Jakarta 6320.445 6,194.50 2.03
Kuala Lumpur 1676.61 1690.58 -0.83
Ho Chi Minh 960.13 892.54 7.57
($1 = 51.3600 Philippine pesos)