* China Oct industrial production misses forecast
* Jollibee Foods Q3 net income drops
* Philippine cenbank stands pat on interest-rate
Nov 14 (Reuters) - Southeast Asian stock markets retreated
on Thursday, with Indonesia losing the most, as risk sentiment
received a hit following a slew of gloomy data from China, the
region's biggest trade partner.
China's industrial production growth slowed sharply in
October as it logged a 4.7% rise but came in well below a
Reuters forecast, while investment growth touched a record low
and retail sales also missed expectations.
The weak economic print highlights the aftermath of the
country's longstanding tariff dispute with the U.S. and a
depletion of demand in advanced economies, hence, "export-led
industrial production will remain under pressure," DBS bank
analysts said in a note.
Against this backdrop, China's GDP growth is likely to slow
further to 5.8% in the fourth quarter, down from 6% in the
previous quarter, they added.
Indonesian shares .JKSE dropped 0.7% to their lowest in
more than one month on weakness in telcos and financials.
Coal mining companies also suffered following recent reports
of China suspending imports of the commodity, said Anugerah
Zamzami Nasr, equity research analyst at Phillip Sekuritas
Indonesia.
Coal producers Bayan Resources Tbk PT BYAN.JK and Adaro
Energy Tbk PT ADRO.JK tumbled 6.9% and 2.6%, respectively.
An index of Jakarta's 45 most liquid stocks .JKLQ45 gave
up 1.1%.
Industrial stocks pulled Singapore's index lower .STI as
conglomerate Jaridne Matheson Holdings Ltd JARD.SI shed 1.9%.
The Philippine bourse .PSI also dipped, with a 5% slump in
Jollibee Foods Inc .JFC.PS sagging the index.
The Asian fastfood giant reported a sharp decline in
third-quarter net income due to continued underperformance of
its U.S. venture Smashburger and Red Ribbon at home.
After market hours, the Philippine central bank announced
that it would hold the benchmark interest rate steady, as was
widely expected, after reporting a stronger-than-expected
economic growth in the third quarter. Malaysian benchmark .KLSE slipped, dragged by IHH
Healthcare Bhd IHHH.KL and telecom major Axiata group Bhd
AXIA.KL .
In other news, cruise line operator Genting Malaysia Bhd
GENM.KL jumped 2.2% to top the benchmark after it said
shareholders of U.S.-based Empire Resorts Inc NYNY.O voted in
favour of merging with the company. Thai shares .SETI also declined as energy stocks faltered.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3231.85 3239.22 -0.23
Bangkok 1609.47 1615.14 -0.35
Manila 7933.71 7947.47 -0.17
Jakarta 6098.95 6142.501 -0.71
Kuala Lumpur 1593.55 1597.22 -0.23
Ho Chi Minh 1012.3 1012.77 -0.05
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3231.85 3068.76 5.31
Bangkok 1609.47 1563.88 2.92
Manila 7933.71 7,466.02 6.26
Jakarta 6098.95 6,194.50 -1.54
Kuala Lumpur 1593.55 1690.58 -5.74
Ho Chi Minh 1012.3 892.54 13.42