November 28, 2018 / 4:39 AM / 8 months ago

SE Asia Stocks-Subdued as Trump-Xi meeting awaited

    * Uncertainty about U.S.-China trade war dampens sentiment
    * Philippine shares fall 0.2 pct, Thai stocks up 0.3 pct

    By Shreya Mariam Job
    Nov 28 (Reuters) - Southeast Asian stock markets were
subdued on Wednesday as investors braced for a meeting of U.S.
and Chinese leaders amid an intensifying trade dispute between
the two countries.
    Trading volumes across the region were muted ahead of the
G20 summit that begins Friday in Argentina, where U.S. President
Donald Trump and Chinese counterpart Xi Jinping are scheduled to
    Also stifling risk appetite were conflicting signals about
the direction of the trade war between the world's two biggest
    While Trump on Monday said he was "highly unlikely" to budge
on China's request to hold off on a planned increase in tariffs,
White House economic adviser Larry Kudlow kept open the
possibility of the two countries reaching a trade deal.
    Shares in Singapore and Malaysia were largely
unchanged, while Philippine stocks fell 0.2 percent.
    "I think it is cautiousness ahead of the key event this week
which is the G20 summit," said Joel Ng, an analyst at
Singapore-based KGI Securities. "Everyone will be watching to
see whether there is any deals coming out from there. And
trading volumes are not helping as well."
    Indonesian shares dipped 0.15 percent, dragged lower
by materials and telecom stocks. Telekomunikasi Indonesia
(Persero) Tbk Perusahaan Perseroan PT dropped 1.6
percent, while Astra International Tbk PT slid 1.8
    Philippine stocks were hit by losses in financial and real
estate stocks. Ayala Land Inc dipped 1 percent, while
Aboitiz Equity Ventures Inc slipped 2.7 percent.
    Meanwhile, Thai shares rose 0.3 percent, helped by
industrials and materials stocks. Airports of Thailand PCL
 gained 1.2 percent, while Bangkok Dusit Medical
Services PCL rose 1.9 percent.

 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3089.98   3090.4          -0.01
 Bangkok            1639.86   1634.27         0.34
 Manila             7396.45   7413.63         -0.23
 Jakarta            6004.839  6013.589        -0.15
 Kuala Lumpur       1685.92   1684.97         0.06
 Ho Chi Minh        923.43    923.12          0.03
 Change on year                               
 Market             Current   End prev yr     Pct Move
 Singapore          3089.98   3402.92         -9.20
 Bangkok            1639.86   1753.71         -6.49
 Manila             7396.45   8,558.42        -13.58
 Jakarta            6004.839  6,355.65        -5.52
 Kuala Lumpur       1685.92   1796.81         -6.17
 Ho Chi Minh        923.43    984.24          -6.18
 (Reporting by Shreya Mariam Job in Bengaluru; editing by Sai
Sachin Ravikumar)
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