SE Asia Stocks-Malaysia falls, others trade in tight range

By Soumyajit Saha

* Singapore shares snap two sessions of gains * Malaysia falls for the third straight session By Soumyajit Saha July 18 (Reuters) - Malaysian shares fell for the third straight session on Thursday to close at their lowest in a month, while most other Southeast Asian stock markets were subdued as renewed Sino-U.S. trade concerns weighed on risk sentiment in the region. The Wall Street Journal reported that the trade talks between the United States and China had halted awaiting Washington deciding how much trading leeway it would provide Huawei. "Mistaking U.S.-China risks for a single-dimensional trade spat led to a miscalculation of far deeper and more disperse multi-dimensional risks," Mizuho Bank said in a note to clients, adding that "direct but hard-to-predict U.S. trade action remains a real and present danger." The Malaysian index dropped 0.5% and led losses in the region. Index heavyweight Petronas Chemicals Group ended at its lowest level since Dec. 26, 2017 and dominated the losses on the benchmark. Meanwhile stocks in the trade-sensitive Singapore closed lower, dragged by the real estate sector. CapitaLand Ltd slipped 1.9%, while Hongkong Land Holdings fell 1.2%. However, Philippines and Indonesian indexes advanced on bets of dovish action from their central banks. Financials and telecommunications stocks led gains in the Philippine index. Macro indicators were pointing at an encouraging second-quarter earnings show, said Miguel Ong, a research analyst with AP Securities, Manila. Lenders were also benefiting from hopes of loser monetary policy coming from the central bank, Miguel added. The local daily Philippine Star on Monday had quoted https://www.philstar.com/business/2019/07/15/1934695/more-room-cut-rates-q3-benjamin-diokno Governor Benjamin Diokno as saying that the Bangko Sentral ng Pilipinas had greater freedom to further ease monetary policy going ahead. Indonesian shares ticked up, helped by gains in resource and consumer stocks. Earlier in the day, Indonesia's central bank cut its benchmark rate for the first time in nearly two years and opened the door to further easing to help a slowing economy. "The move reflects pipeline BI's (Bank of Indonesia's) desire to boost growth and the governor signalled that further easing is in the pipeline," ANZ Research said in a note. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3361.05 3364.87 -0.11 Bangkok 1723.44 1718.85 0.27 Manila 8258.05 8233.48 0.30 Jakarta 6403.294 6394.609 0.14 Kuala Lumpur 1648.93 1657.53 -0.52 Ho Chi Minh 976.05 982.57 -0.66 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3361.05 3068.76 9.52 Bangkok 1723.44 1563.88 10.20 Manila 8258.05 7,466.02 10.61 Jakarta 6403.294 6,194.50 3.37 Kuala Lumpur 1648.93 1690.58 -2.46 Ho Chi Minh 976.05 892.54 9.36 (Reporting by Soumyajit Saha; Editing by Rashmi Aich)