* Indonesian shares at 7-week low
* Malaysian stocks on track to fall for second session
* Thai stocks little changed after Aug manufacturing data
By Anushka Trivedi
Sept 24 (Reuters) - Most Southeast Asian stock markets were
subdued on Tuesday as poor business activity readings from the
euro zone and concerns about slowing global growth kept risk
appetite in check.
The manufacturing sector was in doldrums in Germany,
Europe's biggest economy, while the French business activity
also shrank in September, a survey on Monday showed, as global
trade issues caught up to the euro bloc and stoked fears of a
recession. "The world's economic growth momentum has stuttered amid
heightened global trade tensions ... Any sudden spike in
geopolitical or trade tensions, along with a rapid deterioration
in the global economy's projected path forward, is expected to
return safe-haven assets to 2019 highs," Han Tan, market analyst
at FXTM said in a note.
The concerns over developments in the U.S.-China trade
dispute also lingered in the background, with investors staying
on the sidelines after a Chinese agriculture delegation
cancelled their visit to Montana.
Leading declines, Indonesian shares .JSKE were poised for
a fourth session of losses as they shed 1.3% to hit a seven-week
low.
Financials and consumer stocks dominated the losses with
Bank Central Asia Tbk PT BBCA.JK falling 0.8% and cigarette
maker Hanjaya Mandala Sampoerna Tbk PT HMSP.JK slumping 2.6%.
An index of Jakarta's forty-five most liquid stocks
.JKLQ45 was 1.6% lower.
The Malaysian bourse .KSLE was set to extend declines to a
second session, with resource and consumer sectors leading
losses, while Philippine shares .PSI flitted between positive
and negative territory.
Bucking the sombre mood, Singapore stocks .STI ticked up
on the back of financial stocks amid hopes of monetary easing.
The city-state's core inflation gauge in August remained at a
three-year low, data showed on Monday, prompting analysts at
OCBC to reaffirm rate-cut expectations by the country's central
bank at its October meeting. Heavyweight DBS Group Holdings Ltd DBSM.SI was among the
top gainers in the index as it tacked on 0.6%.
Thai shares .SETI were trading mostly flat after
government data implied that the country's manufacturing output
had slumped more than expected in August.
Thailand's manufacturing sector, one of its main drivers of
growth, reported a 4.4% decline in activity for August, as it
continues to be strained by the Sino-U.S. trade dispute.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3158.82 3143.24 0.50
Bangkok 1625.66 1622.79 0.18
Manila 7876.98 7867.51 0.12
Jakarta 6126.103 6206.199 -1.29
Kuala Lumpur 1589.1 1592.93 -0.24
Ho Chi Minh 988.8 985.75 0.31
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3158.82 3068.76 2.93
Bangkok 1625.66 1563.88 3.95
Manila 7876.98 7,466.02 5.50
Jakarta 6126.103 6,194.50 -1.10
Kuala Lumpur 1589.1 1690.58 -6.00
Ho Chi Minh 988.8 892.54 10.78