* Philippine shares post second straight weekly fall
* Oil prices helped lift Malaysia stocks
* Vietnam shares dragged lower by financials
By Pranav A K
May 15 (Reuters) - Philippine stocks dropped 2% on Friday,
leading losses in the Southeast Asian region, with most other
markets ending subdued due to fears of worsening Sino-U.S. ties
after U.S. President Donald Trump again blamed China for the
coronavirus outbreak.
Trump on Thursday signalled a further deterioration of his
relationship with China over the novel coronavirus, saying he
has no interest in speaking to President Xi Jinping right now
and suggesting he could even cut ties with Beijing. Philippine stocks .PSI slipped nearly 2% to their lowest
closing level since May 4 and recorded a second straight weekly
fall.
"Sino-U.S. Trade tension drove down the Philippine market
today, and even continued improving oil prices did not help to
neutralise the market movement," said Luis Limlingan, managing
director at Regina Capital Development Corp.
A spike in coronavirus cases also dampened the sentiment.
The country's health ministry reported 16 more coronavirus
deaths, bringing the total to 806 and recorded 215 additional
infections, increasing the total tally to 12,091. Index heavyweights Aboitiz Equity AEV.PS skid 5.5%, while
SM Prime Holdings SMPH.PS dropped 5.2% after first-quarter
profit fell.
Shares in Indonesia .JKSE , the region's largest economy,
closed 0.1% lower and were down 3% for the week, the second
straight weekly loss.
Earlier in the day, data showed that the country slipped
into trade deficit in April as exports and imports plunged.
Meanwhile, a Reuters Poll showed that Indonesia's central bank
is expected to deliver this year's third rate cut on Tuesday.
An index of Jakarta's 45 most liquid stocks .JKLQ45 was
0.7% lower.
Meanwhile, better-than-expected industrial output data from
China, the region's biggest trade partner, helped offset some of
the losses in the region. Thai shares .SETI were little changed as gains in energy
stocks on higher oil prices were offset by renewed U.S-China
trade tensions.
Thailand will begin allowing department stores, shopping
malls and other businesses to reopen from Sunday, the government
said. The Mayalsian bourse .KLSE gained 0.4% supported by a jump
in oil prices. For the week, the index gained 1.5%.
Vietnam's index .VNI reversed course to end 0.7% lower,
pressured mostly by financials. The benchmark extended its
weekly gain into a second session.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 2523.55 2522.31 0.05
Bangkok 1280.76 1280.4 0.03
Manila 5541.95 5654.7 -1.99
Jakarta 4507.607 4513.834 -0.14
Kuala Lumpur 1403.44 1397.25 0.44
Ho Chi Minh 827.03 832.4 -0.65
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 2523.55 3222.83 -21.70
Bangkok 1280.76 1579.84 -18.93
Manila 5541.95 7,815.26 -29.09
Jakarta 4507.607 6,299.54 -28.45
Kuala Lumpur 1403.44 1588.76 -11.66
Ho Chi Minh 827.03 960.99 -13.94