June 25, 2019 / 10:00 AM / 25 days ago

SE Asia Stocks-Most subdued on trade talk concerns; Indonesia climbs

    * Philippines snaps five-day rally
    * Thai cenbank policy decision on Wednesday
    * Indonesia snaps three-day losing streak

    By Shreya Mariam Job
    June 25 (Reuters) - Most Southeast Asian stock markets
traded sideways on Tuesday, as investors remained wary ahead of
a crucial meeting between U.S. President Donald Trump and his
Chinese counterpart Xi Jinping on the sidelines of the G20
summit. 
    Trump views the meeting as a chance to see where Beijing
stands on the trade war, and is "comfortable with any outcome"
from the talks, a senior U.S. official said on Monday.
 
    Investors across the board exercised caution amid the
uncertainty shrouding the results of the meeting with MSCI's
broadest index of Asia-Pacific shares outside Japan
 down 0.4%.
    Philippine's index snapped five consecutive sessions
of gains and ended 0.3% lower, with losses among heavyweight
real estate stocks weighing on the index. 
    Ayala Land Inc and SM Prime Holdings Inc
shed 2.4% and 1.2%, respectively. 
    The country had a budget balance of 2.6 billion pesos
($50.62 million) in May.
    Financial stocks pulled Singapore's benchmark index
marginally lower, with DBS Group Holdings Ltd and
United overseas Bank Ltd down 0.7% and 0.6%,
respectively.
    Thai stocks reversed course to end the session 0.3%
higher, as investors awaited key policy decisions by the Bank of
Thailand on Wednesday.
    The country's central bank is expected to keep its benchmark
policy rate steady for a fourth straight meeting, according to a
 Reuters poll. 
    ING, an outlier calling a cut in the upcoming policy
meeting, forecast a 25 basis point policy rate cut to 1.50%.
    "...both equities and government bonds stand to benefit from
lower interest rates, without causing too much impact for the
currency, which is benefiting from a strong external payments
position," ING said in a note to clients.
    Meanwhile, the country's May manufacturing production index
dropped 3.99% from a year earlier compared to a forecast fall of
0.1% in a Reuters poll.
    Shares of Charoen Pokphand Foods PCL and Indorama
Ventures PCL  gained 1.8% and 1.6%, respectively.
    Indonesian stocks snapped three sessions of losses
and gained 0.5%, boosted by material and energy stocks with a 7%
rise in Bayan Resources Tbk Pt and 0.8% rise in
Telekomunikasi Indonesia supporting the index. 
       
        
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3304.27   3311.53         -0.22
 Bangkok                1721.33   1716            0.31
 Manila                 8034.09   8060.58         -0.33
 Jakarta                6320.445  6288.465        0.51
 Kuala Lumpur           1676.61   1676.13         0.03
 Ho Chi Minh            960.13    962.85          -0.28
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3304.27   3068.76         7.67
 Bangkok                1721.33   1563.88         10.07
 Manila                 8034.09   7,466.02        7.61
 Jakarta                6320.445  6,194.50        2.03
 Kuala Lumpur           1676.61   1690.58         -0.83
 Ho Chi Minh            960.13    892.54          7.57
 

($1 = 51.3600 Philippine pesos)

 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Rashmi
Aich)
  
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