* Philippines September annual inflation slower than
expected
* Indonesia set to snap five sessions of losses
* Malaysia August exports fall 0.8%
By Shreya Mariam Job
Oct 4 (Reuters) - Philippine shares rose over 1% on Friday
as a slowing inflation in September raised hopes of further
monetary easing by the country's central bank, while Malaysian
stocks fell after its August exports widely missed estimates.
Philippine inflation rate slackened to an over three-year
low last month and was below the 1.1% forecast in a Reuters
poll. Last year in September and October, inflation rate had
peaked at a near-decade high of 6.7%. The current drop in prices
gives room to the central bank to reverse some of last year's
175-basis points' worth of interest rate hikes.
However, the index is set for its biggest weekly loss in
nearly two months.
Shares of Ayala Land ALI.PS and SM Prime Holdings SMPH.PS
gained 2.3% and 1.9%, respectively.
Malaysian stocks .KLSE fell 0.7% after its August exports
slumped.
The country's exports contracted after an unexpected rebound
in the previous month. This compares to a Reuters poll estimate
of a 2.5% increase. A 7% drop in shares of Kuala Lumpur Kepong Bhd KLKK.KL to
a four-year low also weighed on the market following a block
sale of around 31.6 million secondary shares of the company at
21 Malaysian ringgit($5.02) per share. Telecom stocks, meanwhile, were buoyed by a 1.5% rise in
shares of Maxis Bhd MXSC.KL , the country's second-largest
mobile network operator by subscribers.
Southeast Asian markets now await U.S. September non-farm
payrolls data and Fed chair Jerome Powell's speech for further
signs concerning the central bank's next rate decision.
A flood of weak data from the world's largest economy could
prompt the U.S. Federal Reserve to cut interest rates again this
month. "Powell's remarks will also be sieved for clues as to
policymakers' bias over the coming months, especially following
waning confidence over the health of the world's largest
economy," said by Han Tan, market analyst at FXTM.
Among other markets, Indonesia gained 0.3%, buoyed by
financial and consumer stocks, and was on track to snap five
consecutive sessions of losses.
Unilever Indonesia UNVR.JK and Bank Rakyat Indonesia
BBRI.JK gained 0.8% and 3.2%, respectively.
Singapore stocks .STI slipped 0.3%, with financials and
telecoms dragging the index.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS As at 0451 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3077.7 3087.97 -0.33
Bangkok 1611.41 1610.69 0.04
Manila 7630.04 7545.55 1.12
Jakarta 6059.269 6038.529 0.34
Kuala Lumpur 1553.76 1564.12 -0.66
Ho Chi Minh 991.91 989.67 0.23
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3077.7 3068.76 0.29
Bangkok 1611.41 1563.88 3.04
Manila 7630.04 7,466.02 2.20
Jakarta 6059.269 6,194.50 -2.18
Kuala Lumpur 1553.76 1690.58 -8.09
Ho Chi Minh 991.91 892.54 11.13
($1 = 4.1820 ringgit)