* Indonesia flat ahead of rate decision
* Philippines top gainer
By Soumyajit Saha
July 18 (Reuters) - Most Southeast Asian stock markets
traded in a tight range on Thursday, as the U.S. Federal
Reserve's bright domestic economic outlook curbed expectations
of extensive policy easing and renewed tariff-war fears soured
risk appetite.
The Fed's Beige Book portrayed an economy that was largely
in good shape ahead of a July 30-31 meeting at which the central
bank is widely expected to reduce interest rates. Investors would likely remain in a "risk-off" mood, ING
Group said in a note to clients. Markets are likely to "move
sideways with a downward bias, digesting trade war concerns and
the Fed Beige Book," it added.
Risk sentiment was also dampened after U.S. President Donald
Trump on Tuesday threatened to impose tariffs on an additional
$325 billion of Chinese goods if a trade deal did not come
through. Singapore stocks .STI fell slightly, hurt by the real
estate sector. CapitaLand Ltd CATL.SI declined 1.1%, while
Hongkong Land Holdings HKLD.SI slipped 0.5%.
Malaysian shares .KLSE inched lower, dragged by resources
stocks. Petronas Chemicals Group PCGB.KL was down about 3.5%.
Indonesian stocks .JKSE were flat as losses in the
financial sector offset gains in the resources and consumer
sectors.
Market participants awaited the central bank's policy rate
decision due later in the day. The Bank Indonesia is expected to
trim its 7-day reverse repo rate by 25 basis points, according
to a Reuters poll. Philippine shares .PSI rose, helped by gains in the
financial and industrial sectors.
Miguel Ong, a research analyst with AP Securities,
attributed it to expectations of strong second-quarter earnings.
"Macro indicators are showing that there's a huge upside in
terms of Q2 earnings," he said.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0337 GMT
Market Current Previous close Pct Move
Singapore 3359.14 3364.87 -0.17
Bangkok 1718.18 1718.85 -0.04
Manila 8259.43 8233.48 0.32
Jakarta 6394.943 6394.609 0.01
Kuala Lumpur 1655.86 1657.53 -0.10
Ho Chi Minh 977.68 982.57 -0.50
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3359.14 3068.76 9.46
Bangkok 1718.18 1563.88 9.87
Manila 8259.43 7,466.02 10.63
Jakarta 6394.943 6,194.50 3.24
Kuala Lumpur 1655.86 1690.58 -2.05
Ho Chi Minh 977.68 892.54 9.54