August 23, 2019 / 9:58 AM / 4 months ago

SE Asia Stocks-Singapore falls as core inflation outlook lowered

    * Singapore core inflation rises at slowest rate since April
    * Philippines adds 1.2% for week, snaps 4 weeks of declines
    * Vietnam snaps 7 weeks of gains 

    By Niyati Shetty
    Aug 23 (Reuters) - Singapore stocks declined on Friday as
authorities trimmed full-year inflation forecast towards the
lower half of their guidance range, while last-minute buying in
blue chips saw Philippine shares reverse course to end higher.
    The city state's core inflation eased to its slowest pace in
more than three years in July, in further evidence of weakened
economic condition.
    Singapore shares fell 0.6% for the day, with
Hutchison Port Holdings Trust and Hongkong Land
Holdings retreating 5.7% and 2.3%, respectively. 
    The benchmark stock index was down nearly 1.8% for the week.
    Meanwhile, uncertainty about how much further the U.S.
Federal Reserve would cut interest rates also rattled investors
who keenly await Chairman Jerome Powell's speech at a gathering
of policymakers later in the day. 
    Thai stocks ended 0.8% higher and were the top
performer in Southeast Asia, with nearly all sectors closing
    Communication and industrial stocks largely underpinned
gains, with telecom company Total Access Communication Pcl
 adding 4.6%.
    Vietnam shares snapped seven sessions of gains on
Friday but gained 1.3% for the week. 
    Philippine equities closed 0.5% higher, bouncing back
from a 0.5% drop earlier, due to a spurt in buying of large caps
including JG Summit Holdings, SM Investments Corp
 and Ayala Corp just few minutes before close.  
    Shares of JG Summit jumped 3% in the last 15 minutes of
trade to end up 1.9%. 
    The Manila stock index ended four weeks of declines and
added 1.2% this week. 
    Philippine financial markets are closed on Monday for a
For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3110.35   3127.74         -0.56
 Bangkok                1646.68   1633.56         0.80
 Manila                 7889.41   7848.83         0.52
 Jakarta                6255.597  6239.245        0.26
 Kuala Lumpur           1609.33   1602.47         0.43
 Ho Chi Minh            992.45    997.26          -0.48
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3110.35   3068.76         1.36
 Bangkok                1646.68   1563.88         5.29
 Manila                 7889.41   7,466.02        5.67
 Jakarta                6255.597  6,194.50        0.99
 Kuala Lumpur           1609.33   1690.58         -4.81
 Ho Chi Minh            992.45    892.54          11.19

 (Reporting by Niyati Shetty in Bengaluru; Editing by Subhranshu
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