(Corrects the link for the Thai SET index in the last
paragraph)
* Singapore slips ahead of Oct manufacturing data
* Indonesia on track to snap three straight sessions of
falls
* Hopes of rate cut lifting sentiment in Philippines -
analyst
By Arundhati Dutta
Nov 26 (Reuters) - Philippine stocks gained the most in
Southeast Asia on Tuesday, boosted by hopes of a central bank
interest rate cut, while shares in Singapore slipped ahead of
manufacturing data due later in the day.
Bangko Sentral ng Pilipinas governor Benjamin Diokno said
another rate cut is still possible during the last policy
meeting of the central bank in December, local media reported https://www.philstar.com/business/2019/11/26/1971802/rate-cut-still-possible-yearend-diokno
on Tuesday.
The country's central bank has cut interest rates by a total
of 75 basis points this year but left its powder dry at the
policy meeting held earlier this month.
The possibility of another interest rate cut is underpinning
the positive sentiment in the market, Rachelle Cruz, an analyst
at AP Securities, said.
"We're also seeing some bargain hunters picking up stocks
which were sold down," Cruz added.
The country's benchmark index .PSI jumped 0.5% after
closing at its lowest in almost seven weeks on Monday.
Index heavyweights SM Prime Holdings SMPH.PS and SM
Investments Corp SM.PS gained 1.3% each.
Singapore stocks .STI slipped 0.3%, with Jardine Matheson
Holdings JARD.SI and Jardine Strategic Holdings JSH.SI
falling 2.3% and 0.6%.
Data on the city-state's manufacturing output - a key driver
of growth - for October is due later in the day.
Most other Southeast Asian markets were, however, little
changed as investors shrugged off news of a phone call between
top Chinese and U.S. trade negotiators.
Scepticism and weariness due to constant and often
conflicting headlines on U.S.-China trade negotiations have
prompted investors to be cautious, limiting their response to
new developments.
Malaysian stocks .KLSE edged higher, with electricity
utility Tenaga Nasional TENA.KL advancing 1%.
Shares in Indonesia .JKSE and Thailand .SETI were flat.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS AT 0410 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3209.94 3220.63 -0.33
Bangkok 1613.95 1614.8 -0.05
Manila 7811.85 7771.62 0.52
Jakarta 6075.562 6070.762 0.08
Kuala Lumpur 1592.72 1591.35 0.09
Ho Chi Minh 978.72 976.35 0.24
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3209.94 3068.76 4.60
Bangkok 1613.95 1563.88 3.20
Manila 7811.85 7,466.02 4.63
Jakarta 6075.562 6,194.50 -1.92
Kuala Lumpur 1592.72 1690.58 -5.79
Ho Chi Minh 978.72 892.54 9.66