(Corrects to remove extraneous words in sixth paragraph)
* Philippines posts 0.7% weekly loss
* Malaysia closes at over four-year low
* Thai shares rise on consumer stocks
By Anushka Trivedi
Sept 27 (Reuters) - Philippine stocks closed at their lowest
in over three weeks on Friday as investors pulled out cash to
invest in an influx of new listings, while most other regional
markets inched lower as dismal China data fanned concerns about
slowing growth.
Movement in the Philippines' benchmark had been muted for
most of the week, though Friday's 1% fall led to a weekly loss
of 0.7%.
"Right now the market is suffering from outflows because
investors are preparing for IPOs in the pipeline", said Oliver
Plana, head of sales at Asiasec Equities.
Financial and industrial stocks dominated losses on the
index, with SM Prime Holdings SMPH.PS falling 1.6%.
Furnishing retailer AllHome Corp HOME.PS and coconuts
products maker Axelum Resources Corp AXLM.PS were among the
latest companies to price their IPOs, as the Southeast Asian
nation sees a revival in listings after just one new float last
year.
Escalating concerns over a slowdown in the economy prompted
the country's central bank to unveil a 100 basis point cut in
the banks' reserve requirement after market close, following an
ease in monetary policy on Thursday. Analysts said the central bank's move to cut its benchmark
interest rate for a third time this year on Thursday had largely
been priced in.
Most other Southeast Asian markets traded lower after data
showed a contraction in China's August industrial profit due to
weak demand and a trade spat with the United States.
Malaysian shares .KLSE lost 0.6% to drop to their lowest
since Sept. 7, 2015, as financials faltered. The index posted
its fourth straight weekly loss.
The country's biggest listed firm Malayan Banking Bhd
MBBM.KL fell 1.2% and was among the top drags.
Financials led declines in Indonesian shares .JKSE as
well, with country's benchmark index .JKSE sliding 0.5%.
Elsewhere, Thai stocks .SETI gained 0.4% as consumer
stocks climbed.
The Thai government's latest stimulus package designed to
boost consumer spending, will benefit big cap consumer firms
such as CP ALL PCL CPALL.BK and Berli Jucker PCL BJC.BK in
the coming days, said analysts at PhilipCapital.
Vietnam shares .VNI climbed 0.7% on strength in
financials.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3125.63 3125.81 -0.01
Bangkok 1643.76 1636.75 0.43
Manila 7819.22 7896.48 -0.98
Jakarta 6196.889 6230.334 -0.54
Kuala Lumpur 1584.14 1593 -0.56
Ho Chi Minh 997.84 990.75 0.72
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3125.63 3068.76 1.85
Bangkok 1643.76 1563.88 5.11
Manila 7819.22 7,466.02 4.73
Jakarta 6196.889 6,194.50 0.04
Kuala Lumpur 1584.14 1690.58 -6.30
Ho Chi Minh 997.84 892.54 11.80
(Editing by Aditya Soni)