SE Asia Stocks-Most fall on U.S. political woes, trade worries

By Anushka Trivedi

* Trump whistle-blower report adds to political discord * Fall in China's Aug industrial profits also weighs * Singapore declines on technical recession risk By Anushka Trivedi Sept 27 (Reuters) - Most Southeast Asian stock markets edged lower on Friday, with Philippines leading the fall, as a slew of political and trade-related concerns kept risk appetite in check. A whistle-blower report released on Thursday said U.S. President Donald Trump not only abused his office in an attempt to solicit Ukraine's interference in the 2020 U.S. election for his benefit, but that the White House tried to "lock down" evidence about the conduct. Developments on the trade war front were quite mixed, with the United States not budging to extend a temporary waiver that lets American companies work with Huawei. On the other hand, Chinese officials played up Beijing's willingness to buy more U.S. products. "The market isn't clear on what to make of the latest impeachment developments in the U.S. ... it remains in limbo trying to decide how the 'whistle-blower' impeachment push may impact the White House's decisions on trade negotiations," said Stephen Innes, Asia Pacific market strategist at AxiTrader. Also adding to market jitters was a decline in China's August industrial profits after a brief gain in the previous month, suggesting renewed pressure due to the trade war and slowdown in domestic demand. Philippine shares declined 0.8% on weakness in industrials and financials. International Container Terminal Services Inc dipped 3.7% to a six-week low, while lender BDO Unibank Inc fell 2.7%. Singapore stocks dropped 0.3% to a three-week trough as risks of a technical recession loomed. UOB analysts said they see chances of a technical recession in the third quarter after data released on Thursday showed a steep contraction in August industrial production. They also downgraded the city-state's full-year manufacturing output outlook after the dismal print. Real estate stocks Mapletree Commercial Trust and CapitaLand Mall Trust led losses. Indonesian shares shed also fell, with financials accounting for most of the losses after sharp gains in the previous session. Heavyweights Bank Central Asia Tbk PT and Bank Rakyat Indonesia (Persero) Tbk PT slipped as much as 1% each. Malaysian shares ticked down on weakness in consumer stocks. Palm oil producers Sime Darby Plantation Bhd and Kuala Lumpur Kepong Bhd declined 2.3% and 0.4%, respectively. Meanwhile, Vietnam shares rose 0.4%, helped by financials. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS As at 0356 GMT Change on the day Market Current Previous close Pct Move Singapore 3115.79 3125.81 -0.32 Bangkok 1633.24 1636.75 -0.21 Manila 7836.23 7896.48 -0.76 Jakarta 6207.146 6230.334 -0.37 Kuala Lumpur 1585.85 1593 -0.45 Ho Chi Minh 995.44 990.75 0.47 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3115.79 3068.76 1.53 Bangkok 1633.24 1563.88 4.44 Manila 7836.23 7,466.02 4.96 Jakarta 6207.146 6,194.50 0.20 Kuala Lumpur 1585.85 1690.58 -6.19 Ho Chi Minh 995.44 892.54 11.53 (Reporting by Anushka Trivedi in Bengaluru; Editing by Subhranshu Sahu)