December 7, 2018 / 10:29 AM / 9 months ago

SE Asia Stocks-Most slip on worries of U.S.-China row worsening

    * Philippine shares fall 1 pct, Singaporean end lower
    * Huawei exec's arrest stokes worries about Sino-U.S.
    * Speculation that Fed may be "one-and-done" with rate hikes

    By Shreya Mariam Job
    Dec 7 (Reuters) - Philippine stocks fell 1 percent while
other Southeast Asian markets were subdued on Friday, amid
worries that Sino-U.S. relations could worsen and optimism that
the U.S. central bank may be "one-and-done" with rate hikes.
    U.S. Federal Reserve officials are considering whether to
signal a new wait-and-see mentality after a likely interest rate
increase at their meeting this month, the Wall Street Journal
    However, investors' risk appetite was subdued after the
arrest of a top Huawei executive in Canada on the request of the
United States, which triggered fears of reigniting a U.S.-China
trade row days after the two countries reached a truce.

    Philippine stocks fell 1 percent on Friday but still
closed 1.3 percent higher for the week, which included a
cumulative 4.51 percent gain on Monday and Tuesday.
    "We're still way up from several weeks ago so I would just
attribute (the fall) to profit-taking in the past few days,"
said Charles William Ang, an associate analyst at COL Financial
Group in Singapore.
    Singaporean shares ended 0.1 percent lower after
rising as much as 1.1 percent, dragged down by utility and
technology stocks.
    "Following the Huawei incident, the market is extremely
sensitive to any event that could disrupt the current so-called
trade truce between U.S. and China," said Paul Chew, head of
research at Phillip Securities Research.
    "(Also) worrying for Singapore is the current downtrend in
economic and industry data," he added.
    Data released on Monday showed Singapore's November
manufacturing growth fell to a 16-month low of 51.5.

    Meanwhile, a dip in utilities and basic materials stocks
pulled Malaysian shares down by 0.2 percent.
    Tenaga Nasional Bhd shed 0.4 percent, while
Petronas Chemicals Group Bhd dropped 0.8 percent.
    Energy and telecoms stocks drove Thai shares lower,
with PTT PCL dipping 1.5 percent and PTT Exploration
and Production PCL sliding 2.5 percent.
    Vietnamese and Indonesian stocks, however,
rose 0.4 percent and 0.2 percent, respectively.
    The index of Indonesia's 45 most liquid stocks was
about 0.2 percent higher.
For Asian Companies click:
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3111.12   3115.52         -0.14
 Bangkok            1649.99   1653.73         -0.23
 Manila             7461.06   7535.32         -0.99
 Jakarta            6126.356  6115.493        0.18
 Kuala Lumpur       1680.54   1683.34         -0.17
 Ho Chi Minh        958.59    954.82          0.39
 Change on year                               
 Market             Current   End prev yr     Pct Move
 Singapore          3111.12   3402.92         -8.57
 Bangkok            1649.99   1753.71         -5.91
 Manila             7461.06   8,558.42        -12.82
 Jakarta            6126.356  6,355.65        -3.61
 Kuala Lumpur       1680.54   1796.81         -6.47
 Ho Chi Minh        958.59    984.24          -2.61
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Sai
Sachin Ravikumar)
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