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Anushka Trivedi

SE Asia Stocks-Thai shares ease on telcos; Indonesia up

15 Nov 2019

* Jefferies removes Thailand's True Corp as top sector pick * Philippines, Singapore snap five straight weekly gains * Singtel falls on first ever quarterly loss By Anushka Trivedi Nov 15 Thai shares weakened on Friday, dragged by telecoms on poor corporate earnings, while Indonesian stocks edged higher after a surprise trade surplus in October. Thailand's SET index closed lower for the third straight session, shedding 2.2% for the week. Shares of True Corp Pcl slumped 9.7% to a more than six-year closing low, after the telecom services provider posted a 24% dive in third-quarter core profit and missed Jefferies' forecast by a steep margin. "True appears to be the least beneficiary of the ongoing mobile market collaboration and is clearly in an inferior financial position to embrace an upcoming 5G capex cycle," Jefferies analysts said, and removed the stock as their top sector pick. True's smaller rival RS Pcl also reported a drop in quarterly profit, sending its shares down 11.6% and posting its lowest close since August 2017. Indonesian shares advanced after two sessions of losses after trade data showed exports declined at a slower-than-expected pace, and a trade surplus of $161.3 million. Financials led the gains, with Bank Rakyat Indonesia (Persero) Tbk PT and Bank Mandiri (Persero) Tbk PT jumping 3.8% and 1.1%, respectively. Malaysian shares ended a tick higher after data showed its economy grew by 4.4% in the third quarter, the slowest pace in a year but within expectations. The central bank, however, said it expected growth to remain positive and reaffirmed its 2019 outlook. Malaysian shares lost 0.9% for the week. Singapore stocks were little changed as a surge in industrial stocks was offset by a slump in telecoms. Singapore Telecommunications Ltd dropped 3.6% after the city state's third-biggest firm posted its first ever quarterly loss after market hours on Thursday. Philippine shares closed flat after the central bank stood pat on interest rates, citing firm economic growth in the third quarter. Singapore and Philippine shares snapped five consecutive weekly gains. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3238.86 3231.85 0.22 Bangkok 1602.23 1609.47 -0.45 Manila 7932.96 7933.71 -0.01 Jakarta 6128.345 6098.95 0.48 Kuala Lumpur 1594.75 1593.55 0.08 Ho Chi Minh 1010.03 1012.3 -0.22 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3238.86 3068.76 5.54 Bangkok 1602.23 1563.88 2.45 Manila 7932.96 7,466.02 6.25 Jakarta 6128.345 6,194.50 -1.07 Kuala Lumpur 1594.75 1690.58 -5.67 Ho Chi Minh 1010.03 892.54 13.16 (Reporting by Anushka Trivedi in Bengaluru; Editing by Subhranshu Sahu)

SE Asia Stocks-Tepid after raft of weak data, trade-deal hopes limit losses

15 Nov 2019

* Singtel posts first ever qtrly loss, shares drop * Malaysia Q3 GDP in line with expectations * Philippines on track to snap five weekly gains By Anushka Trivedi Nov 15 Southeast Asian stock markets were tepid on Friday, as a raft of lacklustre data from leading economies left investors skittish, while renewed hopes of a Sino-U.S. trade deal limited sharp declines, with Indonesia seeing its best day in near two weeks. The weakness in China's economy reflected an impact from the prolonged tariff dispute to global economic growth. Data released on Thursday showed that factory output growth in China, Southeast Asia's biggest trading partner, had slowed significantly more than expected in October. The German economy narrowly avoided an expected slip into recession, while Japan's economy came to a near standstill. However, positive cues on the trade war front helped cushion the blow as markets worldwide took heart from White House economic adviser Larry Kudlow assuring that Washington and Beijing were inching closer to an agreement after holding constructive talks. "The dismal figures are yet another reminder to markets about the sheer importance of a U.S.-China trade deal to the global economic outlook. That deal is essential to reviving hopes of a global economic recovery," Han Tan, market analyst at FXTM said in a note. The Jakarta index tacked on 0.6% after October trade data implied that Indonesian exports declined at a slower-than-expected pace, with the country logging in a trade surplus of $161.3 million. Financials led gains in the region, with Bank Rakyat Indonesia (Persero) Tbk PT and Bank Mandiri (Persero) Tbk PT adding 3.1% and 1.8%, respectively. Singapore's benchmark was mostly flat as gains in the industrial sector were offset by a sharp decline in telco stocks, with heavyweight Singapore Telecommunications Ltd (Singtel) dropping 3.3%. The telcom company's stock value depleted by over $1 billion following its disappointing quarterly results. The Straits Times Index is on track to shed 0.9% this week. Malaysian stocks were largely unchanged after data showed its economy grew by 4.4% in the third-quarter from a year earlier, slowest in a year but in line with expectations. The index is poised to mark a 1% weekly loss. The Philippine's main index ticked an edge lower, set to snap five weekly gains, after the central bank stood pat on interest rates, citing firm economic growth in the third quarter and on expectations the trend will continue. The biggest drag in the benchmark, electricity retailer Aboitiz Equity Ventures extended declines to its worst drop in over a month. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0429 GMT Change on the day Market Current Previous close Pct Move Singapore 3235.08 3231.85 0.10 Bangkok 1607.3 1609.47 -0.13 Manila 7920.13 7933.71 -0.17 Jakarta 6134.059 6098.95 0.58 Kuala Lumpur 1593.75 1593.55 0.01 Ho Chi Minh 1013.7 1012.3 0.14 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3235.08 3068.76 5.42 Bangkok 1607.3 1563.88 2.78 Manila 7920.13 7,466.02 6.08 Jakarta 6134.059 6,194.50 -0.98 Kuala Lumpur 1593.75 1690.58 -5.73 Ho Chi Minh 1013.7 892.54 13.57 (Reporting by Anushka Trivedi in Bengaluru, Editing by Sherry Jacob-Phillips)

SE Asia Stocks-Most fall on weak China data, Sino-U.S. trade deal worries

14 Nov 2019

* China's Oct industrial output grew slower than expected * Philippine shares at near 4-week low * Thai cenbank to lower growth outlook for 2019 & 2020 By Anushka Trivedi Nov 14 Most Southeast Asian stock markets declined on Thursday, as dismal economic print from China and rising uncertainty over a highly-anticipated Sino-U.S. trade deal weighed on risk sentiment. Indonesian stocks dropped the most in the region after data showed China's industrial output grew significantly slower than expected in October, reinforcing views that long-drawn trade war with United States is taking a toll on the world's second-largest economy. An interim deal to de-escalate the tariff dispute appeared elusive, with trade negotiations between Washington and Beijing hitting a snag over farm purchases, according to the Wall Street Journal. "The latest news added to the sense that the path to any trade deal remains riddled with uncertainties and contributed to the relatively lower market risk appetite," OCBC analysts said in a note. Financials and telco dominated the losses in Indonesia, where the benchmark index traded 0.9% lower at a five-week trough. Lenders Bank Central Asia Tbk PT and Telekomunikasi Indonesia Tbk PT slipped 1% and 2.7%, respectively, and were the biggest drags on the main index. Philippine's main index slipped as much as 0.8% to a near four-week low ahead of a central bank meeting. Bangko Sentral ng Pilipinas looks certain to leave its policy rate unchanged after stronger-than-expected economic growth in the third quarter and with inflation likely to remain tame in the coming months, a Reuters poll showed. Property developer Ayala Land Inc and electricity retailer Aboitiz Equity Ventures Inc were among the top losers on the index. Ayala Corp, Philippines' largest conglomerate, fell 1.5% to an over two-and a half-year low after it said it will invest $237.5 million in Myanmar's Yoma Group in search of growth in multiple sectors. Singapore shares slipped 0.3%, with heavyweight United Overseas Bank Ltd dipping 0.8%, while Jaridne Matheson Holdings Ltd shed 1.7%. Thai shares were lower after the central bank said it would lower the country's economic growth forecasts for this year and next, and that monetary policy action to support the economy was still in play. Shares in Vietnam, which has benefited from the Sino-U.S. trade war, edged up slightly. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0415 Change on the day Market Current Previous close Pct Move Singapore 3229.68 3239.22 -0.29 Bangkok 1609.59 1615.14 -0.34 Manila 7912.73 7947.47 -0.44 Jakarta 6085.603 6142.501 -0.93 Kuala Lumpur 1595.87 1597.22 -0.08 Ho Chi Minh 1014.72 1012.77 0.19 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3229.68 3068.76 5.24 Bangkok 1609.59 1563.88 2.92 Manila 7912.73 7,466.02 5.98 Jakarta 6085.603 6,194.50 -1.76 Kuala Lumpur 1595.87 1690.58 -5.60 Ho Chi Minh 1014.72 892.54 13.69 (Reporting by Anushka Trivedi in Bengaluru; Editing by Aditya Soni)

SE Asia Stocks-Rise ahead of Trump's trade policy address

12 Nov 2019

* Markets await Trump's speech * Bangkok Life Assurance posts upbeat quarterly results * Vietcombank rises on deal with FWD Group By Anushka Trivedi Nov 12 Southeast Asian markets eked out modest gains on Tuesday, with trade-sensitive Singapore shares rising the most as investors eagerly await a key speech by U.S. President Donald Trump for clues on a U.S.-China trade deal. Later in the day, Trump is scheduled to address U.S. trade policy at the Economic Club of New York, and markets will tune in for any upbeat commentary since his remark on Friday, that he had not agreed to roll back tariffs, had dented prospect of an imminent trade pact. Hopes of positive news from the event boosted Shanghai as well as Hong Kong stocks. In a low volume session, Singapore shares jumped 0.8% on strength in industrial stocks. The index had shed about 1.4% over the past two days. "An improvement in U.S.-China trade relations leaves Singapore poised better than most, to gain an immediate benefit," Jeffrey Halley, senior market analyst, Asia Pacific at OANDA said in a note. "The worsening situation in Hong Kong will almost certainly benefit Singapore in the longer-term, as investment decisions between the two become no-brainer right now," he added. Conglomerates Jardine Strategic Holdings Ltd and Jardine Matheson Holdings Ltd added 4.8% and 2.6%, respectively. Thai shares advanced as Bangkok Life Assurance's jump in quarterly profit propelled the financials higher while telco Advanced Info Service PCL tacked on 2.2%. Vietnam's main index rose 0.2%, buoyed by financials. Insurer FWD Group is set to acquire a unit of Vietcombank , the country's top lender and forge an exclusive 15-year bancassurance tie-up with the bank, in a deal valued at about $400 million. Vietcombank's shares closed up 0.4%. Meanwhile, customs data showed Vietnam's trade surplus widened to $1.86 billion in October as exports rose, when compared to the previous month. Philippine shares ended flat after trading lower throughout the session as investors picked up heavyweight stocks SM Prime Holdings Inc and BDO Unibank Inc at the last minute. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3267.8 3240.65 0.84 Bangkok 1626.2 1622.12 0.25 Manila 8012.34 8009.38 0.04 Jakarta 6180.992 6148.74 0.52 Kuala Lumpur 1609.73 1608.15 0.10 Ho Chi Minh 1018.33 1016.75 0.16 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3267.8 3068.76 6.49 Bangkok 1626.2 1563.88 3.98 Manila 8012.34 7,466.02 7.32 Jakarta 6180.992 6,194.50 -0.22 Kuala Lumpur 1609.73 1690.58 -4.78 Ho Chi Minh 1018.33 892.54 14.09 (Reporting by Anushka Trivedi in Bengaluru; Editing by Shailesh Kuber)

SE Asia Stocks-Philippine falls to near two-week low; Singapore gains

12 Nov 2019

* Philippine shares on track to slide for 3rd session * BSP says Aug FDI net flows dropped significantly * Telcos boost Thai stocks By Anushka Trivedi Nov 12 Philippine shares dropped to their lowest in almost two weeks on Tuesday, pulled lower by financials stocks, while Singapore led gains in Southeast Asia ahead of retail sales data due later in the day. The benchmark Philippine index dropped 0.4% after the country's central said on Monday that foreign direct investments (FDI) net inflows decreased to $416 million in August from $758 million a year ago as ongoing uncertainty in the global environment dampened sentiment. (https://bit.ly/34P2Ttk) The decline in FDI inflows is likely to continue, which will drag both GDP and employment, as foreign investors wait for a key corporate income tax bill expected in 2020, AP Securities analysts said in a client note. Singapore shares advanced 0.3%, after losing about 1.4% in the past two sessions on weakness in industrial stocks. The city-state's September retail sales figures, slated to be released later in the session, likely shrank on an annual basis but rose 3.5% over the previous month, according to OCBC analysts. Conglomerates Jardine Strategic Holdings Ltd and Jardine Matheson Holdings Ltd added 1.3% each. However, most other Southeast Asian stock markets were little changed in thin trade ahead of a speech by U.S. President Donald Trump on Tuesday that could provide clues on the status of an interim trade deal with China. Trump had doused hopes of an imminent trade pact over the weekend, when he said he had not agreed to roll back tariffs on China as part of "phase one" deal. There is no sign that trade talks have broken down but "the current condition is unlikely to give risk asset another leg up either in the absence of any further positive follow through," Mizuho analysts said in a note. The Thai benchmark edged up, with telco Advanced Info Service PCL jumping 1.8%. Jefferies expects the transition to 5G to result in better market collaboration and higher ARPU growth for the telecom sector. Indonesia's main index slid 0.1%, with lenders Bank Central Asia Tbk PT and Bank Mandiri (Persero) Tbk PT dragging the benchmark. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0404 GMT Change on the day Market Current Previous close Pct Move Singapore 3250.45 3240.65 0.30 Bangkok 1625.1 1622.12 0.18 Manila 7980.01 8009.38 -0.37 Jakarta 6146.457 6148.74 -0.04 Kuala Lumpur 1609.34 1608.15 0.07 Ho Chi Minh 1018.66 1016.75 0.19 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3250.45 3068.76 5.92 Bangkok 1625.1 1563.88 3.91 Manila 7980.01 7,466.02 6.88 Jakarta 6146.457 6,194.50 -0.78 Kuala Lumpur 1609.34 1690.58 -4.81 Ho Chi Minh 1018.66 892.54 14.13 (Reporting by Anushka Trivedi in Bengaluru; Editing by Aditya Soni)

SE Asia Stocks-Tumble as Hong Kong chaos, trade deal uncertainty hurt sentiment

11 Nov 2019

* Thailand's Indorama falls on qtrly profit drop * Singapore's DBS flags a weaker 2020 * Malaysia Sept industrial production rises By Anushka Trivedi Nov 11 Southeast Asian markets closed in the red on Monday, with Thailand falling the most, as the latest escalation of violence in Hong Kong and uncertainty surrounding U.S.-China trade deal tempered sentiment. The Hong Kong police fired live rounds of ammo at protesters, critically injuring one, as the Chinese-ruled territory spiralled into rare working-hours violence in its 24th straight week of pro-democracy unrest. Hong Kong's Hang Seng index shed 2.6% to mark its biggest single-day drop in more than three-months while Chinese stocks also declined, with the Shanghai index falling the most in over four months. The collapse in Hong Kong's main index "as protests there dangerously escalate, is the culprit behind Asia's sell-off", Jeffrey Halley, senior market analyst, Asia Pacific at OANDA said in a note. "It is a reflection of the increased fears of direct mainland intervention in the territory. That fear will hang over regional markets this morning, although its effect may be limited time-wise," he added. Leading losses in the region, the Thai benchmark shed 1%, weighed by financial and consumer stocks. Siam Commercial Bank fell 2.5% while chemical developer Indorama Ventures PCL dropped 3.8% after posting a slump in quarterly profit. Also damaging the overall sentiment was U.S. President Donald Trump's remark on Friday that he had not agreed to rolling back the U.S. tariffs sought by China, which contradicted earlier reports of officials confirming the arrangement. Singapore's main index tumbled as much as 1.1% to mark its worst session in over a month amid broad-based losses. Tech stocks faltered following Venture Corp's results last Friday, which were not very encouraging, while financials came under pressure after Southeast Asia's top lender DBS Group Holdings flagged a weaker 2020, said Nicholas Yon, equity research analyst at Lim & Tan Securities. Local property developers exposed to the Hong Kong region such as Hongkong Land Holdings and Jardine Strategic Holdings also traded lower. Indonesian shares followed suit, as coal miner Bayan Resources dived 19.4% and poultry feed producer Charoen Pokphand Indonesia Tbk PT lost 4.3% to dominate losses on the benchmark. The Philippine index closed at a near two-week low. Malaysian shares dipped after data showed September's industrial production rose 1.7% from a year earlier but came in slower than August as manufacturing and mining output declined. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3240.65 3264.3 -0.72 Bangkok 1622.12 1637.85 -0.96 Manila 8009.38 8065.76 -0.70 Jakarta 6148.74 6177.986 -0.47 Kuala Lumpur 1608.15 1609.73 -0.10 Ho Chi Minh 1016.75 1022.49 -0.56 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3240.65 3068.76 5.60 Bangkok 1622.12 1563.88 3.72 Manila 8009.38 7,466.02 7.28 Jakarta 6148.74 6,194.50 -0.74 Kuala Lumpur 1608.15 1690.58 -4.88 Ho Chi Minh 1016.75 892.54 13.92 (Reporting by Anushka Trivedi in Bengaluru; Editing by Rashmi Aich)

SE Asia Stocks-Falter on trade deal uncertainty, China data

11 Nov 2019

* China Oct PPI falls most in 3-yrs * Thai shares lead losses * Singapore's DBS Group flags weaker 2020 By Anushka Trivedi Nov 11 Southeast Asian stock markets edged lower on Monday as uncertainty over whether the United States and China would end their bruising trade war lingered, while data from Beijing brought slowdown fears to the fore. U.S. President Donald Trump on Friday contrasted reports of officials from U.S. and China agreeing to rollback existing tariffs by saying he had not agreed to such a deal, which sparked fresh doubts over whether the two sides would find a segue in their damaging tariff spat. Meanwhile, data showed that China's producer prices, a key indicator of corporate profitability, fell the most in more than three years in October, as the manufacturing sector weakened while consumer prices grew at their fastest pace in about eight years. This "continuous divergence between CPI and PPI further reaffirms the underlying moderating demand," Mizuho analysts said in a note. "As the government shows higher degree of tolerance on slower growth, evidenced by the absence of resolute steps from the People's Bank of China in terms of easing measures, growth still faces risk of falling to sub-6% next year", they added. Leading losses in the region, Thai bourse was 0.6% lower as financial and industrial stocks faltered. Singapore stocks slipped 0.5%, with financials dominating losses on the benchmark. The city-state has a sizable exposure to China. United Overseas Bank Ltd fell 0.5%, while DBS Group Holdings Ltd dipped 0.2%. DBS Group, Southeast Asia's largest lender, reported a jump in quarterly profit but flagged a dull 2020 as it now expects revenue and profit next year to grow in low single digits. Indonesia's main index fell about 0.4%, pressured by banking and telco stocks. Shares of Bank Rakyat Indonesia (Persero) Tbk PT and Telekomunikasi Indonesia Tbk PT dropped over 1% each in the session. Malaysian shares declined ahead of monthly industrial output data, which is expected to grow by 1%, according to analysts at ING. Palm oil producer Kuala Lumpur Kepong Bhd and lender CIMB Group Holdings Bhd were the top drags on the index as they fell 2.2% and 0.7%, respectively. Elsewhere, Vietnam stocks traded sideways. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3248.46 3264.3 -0.49 Bangkok 1627.76 1637.85 -0.62 Manila 8054.27 8065.76 -0.14 Jakarta 6155.597 6177.986 -0.36 Kuala Lumpur 1606.78 1609.73 -0.18 Ho Chi Minh 1021.92 1022.49 -0.06 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3248.46 3068.76 5.86 Bangkok 1627.76 1563.88 4.08 Manila 8054.27 7,466.02 7.88 Jakarta 6155.597 6,194.50 -0.63 Kuala Lumpur 1606.78 1690.58 -4.96 Ho Chi Minh 1021.92 892.54 14.50 (Reporting by Anushka Trivedi in Bengaluru; Editing by Shailesh Kuber)

SE Asia Stocks-Most fall on U.S.-China trade jitters; Vietnam gains

01 Nov 2019

* Vietnam surges as real estate stocks shine * Indonesian stocks the only weekly loser * Philippine markets closed for holiday By Anushka Trivedi Nov 1 Most Southeast Asian stock markets retreated on Friday, as investors fled risky assets after China expressed doubts over signing a comprehensive trade deal with the United States, while Vietnam surged buoyed by gains in real estate shares. A Bloomberg report on Thursday said that Chinese officials told visitors to Beijing that it will not budge on the thorniest issues and is concerned about the risk that U.S. President Donald Trump could back out of the interim deal. For the market to slip further, it will require the recent disquiet from the Chinese on trade deals to broaden into something more unsettling, plus a further deterioration in the U.S. economy, both of which seem eminently plausible, said Robert Carnell, head of research, Asia-Pacific at ING. Thai shares led the fall in the region, with telco and consumer sectors dominating losses on the benchmark. Shares of retailer CP ALL PCL fell 2.6% and telco Advanced Info Service PCL dropped 1.8%. Malaysian shares followed suit to slip 0.3% amid broad-based losses. However, the index added 1.5% for the week. Public Bank Bhd and state-run gas distributor Petronas Gas Bhd shed about 2.4% and 1.6%, respectively. Indonesia's main index dipped 0.3% on weakness in consumer and telecom stocks. The benchmark shaved off 0.7% over the week. Heavyweight Telekomunikasi Indonesia (Persero) Tbk PT slid for third straight session to close at a three-month low after reporting disappointing quarterly results on Wednesday. Singapore's benchmark recovered some of its early losses to end the session flat, but added 1.3% for the week. Trade-sensitive industrial stocks were the hardest hit, with Jardine Strategic Holdings Ltd dropping 1.3%. Meanwhile, the Vietnam bourse surged 1.7%, underpinned by real estate stocks. The index added almost 2% this week. Vietnam has emerged as one of the largest beneficiaries of the trade war between Beijing and Washington, as some businesses are shifting their supply chains away from China in order to avoid tariffs. Big-cap firms Vinhomes Joint Stock Company and Vingroup Joint Stock Company jumped 7% and 2.9%, respectively. Philippine markets were closed for a public holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3229.43 3229.88 -0.01 Bangkok 1592.52 1601.49 -0.56 Jakarta 6207.191 6228.317 -0.34 Kuala Lumpur 1593.34 1597.98 -0.29 Ho Chi Minh 1015.59 998.82 1.68 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3229.43 3068.76 5.24 Bangkok 1592.52 1563.88 1.83 Jakarta 6207.191 6,194.50 0.20 Kuala Lumpur 1593.34 1690.58 -5.75 Ho Chi Minh 1015.59 892.54 13.79 (Reporting by Anushka Trivedi in Bengaluru; Editing by Rashmi Aich)

SE Asia Stocks-Most fall on U.S.-China trade deal worries, weak data

01 Nov 2019

* Indonesian inflation falls to 6-month low * Singapore's UOB slips on poor quarterly results * Philippine markets closed for holiday By Anushka Trivedi Nov 1 Most Southeast Asian markets fell on Friday on a report that China expressed doubts over signing of a long-term trade deal with the United States, while a raft of weak data in the region also dented sentiment. Bloomberg reported on Thursday that Chinese officials told visitors to Beijing that it will not budge on the thorniest issues and is concerned about the risk that U.S. President Donald Trump could back out of the interim deal. This comes after the APEC meeting in Chile where leaders of both countries were supposed to sign an interim deal in mid-November was called off due to domestic turmoil. Meanwhile, recent manufacturing data for trade-reliant Asian economies such as Indonesia, Malaysia, Taiwan and Vietnam have all disappointed. "We can yet again see that a resolution to the U.S.-China trade dispute remains a critical component to keeping the lights on in the global economy," said Jeffrey Halley, senior market analyst, Asia Pacific at OANDA. Singapore shares fell as much as 0.7%, pressured mostly by industrial stocks. The city-state has a sizable exposure to China. Conglomerate Jardine Strategic Holdings Ltd lost 1.2%. Singapore's third-biggest lender United Overseas Bank Ltd fell 1% to see worst session in a month after posting a drop in quarterly results and dragged the benchmark. Malaysia's main index slipped, with Public Bank Bhd shedding 2.4% and Petronas Chemicals Group Bhd trading 0.4% lower. Indonesian shares inched lower. Data showed that October's annual inflation slowed more than expected to its lowest in six months, but stayed within central bank's comfort range. Automotive group Astra International Tbk PT was the top drag on the index as it fell about 2% after reporting a decline in nine-month net profit. Thai bourse slipped while data showed inflation rose 0.11% in October from a year earlier, slowing from the previous month and undershooting expectations. Meanwhile, Vietnam stocks gained 0.9%, while data showed manufacturing activity declined slightly in October compared to previous month. Philippine markets were closed for a holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3227.4 3229.88 -0.08 Bangkok 1596.01 1601.49 -0.34 Jakarta 6211.137 6228.317 -0.28 Kuala Lumpur 1590.81 1597.98 -0.45 Ho Chi Minh 1008.25 998.82 0.94 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3227.4 3068.76 5.17 Bangkok 1596.01 1563.88 2.05 Jakarta 6211.137 6,194.50 0.27 Kuala Lumpur 1590.81 1690.58 -5.90 Ho Chi Minh 1008.25 892.54 12.96 (Reporting by Anushka Trivedi in Bengaluru; editing by Uttaresh.V)

SE Asia Stocks-Indonesian shares fall over 1%, Malaysia rises

31 Oct 2019

* Indonesian shares fall on telco, utility stocks * Thai September exports fall 1.5% * Malaysian stocks gain over 1% By Anushka Trivedi Oct 31 Indonesian shares fell over 1% on Thursday, weighed down by telecom and utility stocks, while Malaysia gained on strength in the country's banking sector after an upbeat review by its central bank. The Jakarta index closed at its lowest in over a week as poor earnings from Indonesia's third biggest company Telekomunikasi Indonesia (Persero) Tbk PT dragged the telco sector lower. Telkom Indonesia reported a 4.4% fall in third-quarter revenue, missing Jefferies estimates, as sales from its data and internet segment decelerated. Meanwhile, a 13.5% drop in natural gas distributor Perusahaan Gas Negara Tbk PT, following multiple local reports about the government blocking PGAS's plans to raise gas prices also tugged on the index. An index of Jakarta's 45 most liquid stocks ended 1.4% lower. Thai shares pared early gains to end the session flat after export growth for September came in 1.5% lower. The index lost 2.2% this month. Meanwhile, Malaysian shares gained 1.1%, buoyed by financials. Bank Negara Malaysia in its monthly report said it expected banking institutions to withstand severe macroeconomic and financial shocks as they are armed with excess capital buffers. (https://bit.ly/2r22NQF) Public Bank Bhd jumped 4.6%, while CIMB Group Holdings Bhd rose 3.1%. Philippines shaved off 0.5%, with heavyweights Ayala Land Inc and Bank of the Philippine Islands losing 2% and 2.9%, respectively. The benchmark, however, added 2.6% this month. "The market in general was relatively stronger in last few days, particularly the financials ... so I think today is just profit taking in the market," Charles William Ang, associate analyst at COL Financial Group said. Property developer Ayala Land added 2.2% in the past three sessions, whereas BPI gained 3%, compared with a 1.2% jump in the index. Singapore shares advanced 0.7% to their highest in nearly three months, helped by financial stocks. The benchmark added 3.6% for the month. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3229.88 3207.92 0.68 Bangkok 1601.49 1601.83 -0.02 Manila 7977.12 8020.06 -0.54 Jakarta 6228.317 6295.747 -1.07 Kuala Lumpur 1597.98 1580 1.14 Ho Chi Minh 998.82 1000.89 -0.21 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3229.88 3068.76 5.25 Bangkok 1601.49 1563.88 2.40 Manila 7977.12 7,466.02 6.85 Jakarta 6228.317 6,194.50 0.55 Kuala Lumpur 1597.98 1690.58 -5.48 Ho Chi Minh 998.82 892.54 11.91 (Reporting by Anushka Trivedi in Bengaluru; Editing by Shounak Dasgupta)

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