November 7, 2019 / 4:51 AM / 10 days ago

SE Asia Stocks-Most tepid on trade caution; Indonesia falls 1% as banks weigh

    * U.S.-China trade deal could be delayed to Dec - official
    * Indonesia hits near one-month low
    * Philippines Q3 GDP came in better than forecast

    By Sameer Manekar
    Nov 7 (Reuters) - Indonesian shares fell more than 1% on
Thursday, dragged by heavy losses in financials, while other
Southeast Asian markets treaded water as signs of a delay in
Washington and Beijing sealing an interim trade deal dampened
sentiment.
    Reuters on Wednesday reported that a meeting between U.S.
President Donald Trump and China's Xi Jinping to sign the
long-awaited interim trade deal could be delayed until December.

    Officials are still scoping venues for the meeting, which
was originally scheduled to take place on the sidelines of a
now-cancelled mid-November summit of Asia-Pacific leaders in
Chile.
    "The location of any deal ceremony is considerably less
important than any willingness to sign a deal at all. Or to the
substance of any such deal," ING said in a note.
    "The question really is, do we even get a December deal?"
    The Indonesian index seemed underwhelmed by the
trade news, but shares dropped after President Joko Widodo urged
bank executives to help spur growth with cuts in lending rates
and loans, following feeble third-quarter growth data.
 
    The index touched its lowest in nearly a month, with
financials taking a hit as the government's statement could
pressure lenders' margins.
    Bank Rakyat Indonesia and Bank Mandiri (Persero)
 dropped 4.3 and 2.5%, respectively.
    An index of the country's 45 most liquid stocks
were set to declined 1.8%.    
    Meanwhile, a delay in a long-awaited trade deal suppressed
trading in Singapore, with industrials dragging the index
lower. 
    Jardine Strategic Holdings lost 1.5%, while
financial sectors supported the index, with Capitaland Ltd
 posting a 1.1% gain.
    The Philippine bourse traded flat after closing 2.3%
weaker on Wednesday, after data showed that the country's
economy grew better than expected in the third quarter.

    Blue-chip stocks recovered from a plunge in the previous
session, with SM Prime Holdings and Ayala Corp
climbing as much as 2.5% and 0.7%.
    Thai stocks edged lower, dragged by energy and
materials sectors, while Malaysia's benchmark index was
little changed.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0445 GMT
    
 Market                 Current   Previous close  Pct Move
 Singapore              3263.53   3262.69         0.03
 Bangkok                1622.08   1623.99         -0.12
 Manila                 8022.21   8025.88         -0.05
 Jakarta                6132.878  6217.545        -1.36
 Kuala Lumpur           1603.09   1603.25         -0.01
 Ho Chi Minh            1025.4    1024.91         0.05
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3263.53   3068.76         6.35
 Bangkok                1622.08   1563.88         3.72
 Manila                 8022.21   7,466.02        7.45
 Jakarta                6132.878  6,194.50        -0.99
 Kuala Lumpur           1603.09   1690.58         -5.18
 Ho Chi Minh            1025.4    892.54          14.89
 

 (Reporting by Sameer Manekar in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
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