* All eyes on U.S. non-farm payrolls data
* Philippines June inflation slows to near 2-year low
* Philippine cenbank may cut 25bps as early as Aug - ING
* Thailand set to snap 6 weeks of gain
* Vietnam set to be top gainer for the week, up 2.5%
By Rashmi Ashok
July 5 (Reuters) - Most Southeast Asian stock markets traded
sideways on Friday, as investors adopted a cautious stance ahead
of key U.S. non-farm payroll data, while the Philippines rallied
on rising hopes of a rate cut.
Asian markets will adopt a wait-and-watch mode, with all
eyes on the crucial U.S. non-farm payroll report, which
investors will take as another signal on whether the U.S.
Federal Reserve would cut rates, ING said in a note.
Data on U.S. non-farm payrolls is due later at 1230 GMT. As
risk sentiment took a breather, trading volumes of most regions
stayed at just a fraction of their 30-day average.
Philippine stocks .PSI rallied on rising hopes of a rate
cut as early as August, after data showed the country's annual
inflation easing to a near two-year low in June, as food and
fuel costs increased at a slower pace. It was also the first time since December 2017 that
inflation eased below the midpoint of the central bank's 2%-4%
target this year.
"The Bangko Sentral ng Pilipinas (BSP) Governor Diokono has
hinted at further rate cuts on the back of falling inflation.
Falling inflation and persistent downside growth risks should
move the BSP for another 25bp rate cut as early as August," read
ING's note.
The index was boosted by strong gains notched by heavyweight
stocks SM Investments Corp SM.PS and Ayala Land ALI.PS .
Thai stocks .SETI traded flat, after a sharp drop in the
previous session. Despite the day's gains, the index is set to
post a weekly loss of about 0.2% and snap six straight weeks of
gains.
Malaysian stocks .KLSE slipped, dragged by large-caps such
as Tenaga Nasional TENA.KL and Axiata Group AXIA.KL , which
fell 2.1% and 1.3%, respectively.
Singapore stocks .STI were trading flat, but set to clock
five straight winning weeks. Indonesia's index .JKSE was also
unmoved on the day, but poised for a six-week winning streak.
Meanwhile, Vietnam's index .VNI is set to be the best
performer for the week, up about 2.5%.
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SOUTHEAST ASIAN STOCK MARKETS at 0303 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3369.55 3372.25 -0.08
Bangkok 1726.28 1724.37 0.11
Manila 8110.7 8064.92 0.57
Jakarta 6376.092 6375.967 0.00
Kuala Lumpur 1682.25 1687.48 -0.31
Ho Chi Minh 974.13 973.04 0.11
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3369.55 3068.76 9.80
Bangkok 1726.28 1563.88 10.38
Manila 8110.7 7,466.02 8.63
Jakarta 6376.092 6,194.50 2.93
Kuala Lumpur 1682.25 1690.58 -0.49
Ho Chi Minh 974.13 892.54 9.14