November 14, 2019 / 9:47 AM / a month ago

SE Asia Stocks-Slip as China slowdown worsens, Indonesia leads fall

    * China Oct industrial production misses forecast
    * Jollibee Foods Q3 net income drops
    * Philippine cenbank stands pat on interest-rate

    Nov 14 (Reuters) - Southeast Asian stock markets retreated
on Thursday, with Indonesia losing the most, as risk sentiment
received a hit following a slew of gloomy data from China, the
region's biggest trade partner.
    China's industrial production growth slowed sharply in
October as it logged a 4.7% rise but came in well below a
Reuters forecast, while investment growth touched a record low
and retail sales also missed expectations.     
    The weak economic print highlights the aftermath of the
country's longstanding tariff dispute with the U.S. and a
depletion of demand in advanced economies, hence, "export-led
industrial production will remain under pressure," DBS bank
analysts said in a note.
    Against this backdrop, China's GDP growth is likely to slow
further to 5.8% in the fourth quarter, down from 6% in the
previous quarter, they added.
    Indonesian shares dropped 0.7% to their lowest in
more than one month on weakness in telcos and financials.
    Coal mining companies also suffered following recent reports
of China suspending imports of the commodity, said Anugerah
Zamzami Nasr, equity research analyst at Phillip Sekuritas
Indonesia.
    Coal producers Bayan Resources Tbk PT and Adaro
Energy Tbk PT tumbled 6.9% and 2.6%, respectively.
    An index of Jakarta's 45 most liquid stocks gave
up 1.1%.    
    Industrial stocks pulled Singapore's index lower as
conglomerate Jaridne Matheson Holdings Ltd shed 1.9%.
    The Philippine bourse also dipped, with a 5% slump in
Jollibee Foods Inc sagging the index.
    The Asian fastfood giant reported a sharp decline in
third-quarter net income due to continued underperformance of
its U.S. venture Smashburger and Red Ribbon at home.

    After market hours, the Philippine central bank announced
that it would hold the benchmark interest rate steady, as was
widely expected, after reporting a stronger-than-expected
economic growth in the third quarter.
    Malaysian benchmark slipped, dragged by IHH
Healthcare Bhd and telecom major Axiata group Bhd
.
    In other news, cruise line operator Genting Malaysia Bhd
 jumped 2.2% to top the benchmark after it said
shareholders of U.S.-based Empire Resorts Inc voted in
favour of merging with the company.
    Thai shares also declined as energy stocks faltered.
    
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                               
 Market                 Current  Previous close  Pct Move
 Singapore              3231.85  3239.22         -0.23
 Bangkok                1609.47  1615.14         -0.35
 Manila                 7933.71  7947.47         -0.17
 Jakarta                6098.95  6142.501        -0.71
 Kuala Lumpur           1593.55  1597.22         -0.23
 Ho Chi Minh            1012.3   1012.77         -0.05
                                                 
 Change so far in 2019                           
 Market                 Current  End 2018        Pct Move
 Singapore              3231.85  3068.76         5.31
 Bangkok                1609.47  1563.88         2.92
 Manila                 7933.71  7,466.02        6.26
 Jakarta                6098.95  6,194.50        -1.54
 Kuala Lumpur           1593.55  1690.58         -5.74
 Ho Chi Minh            1012.3   892.54          13.42
 

 (Reporting by Anushka Trivedi in Bengaluru; Editing by Shailesh
Kuber)
  
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