SE Asia Stocks-Most subdued ahead of regional trade, inflation data
* Singapore set to snap four sessions of gains * Philippine index on track for fifth straight gain * Indonesia trade, Singapore inflation data awaited By Shreya Mariam Job June 24 (Reuters) - Most Southeast Asian stock markets were subdued on Monday as investors awaited economic data from Singapore and Indonesia and further developments in the Sino-U.S. trade talks, while U.S.-Iran tensions also weighed on the sentiment. Stock markets in the region saw lacklustre trade, also ahead of an expected meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping on the sidelines of the G20 summit in Japan this week, scouring for signs of a thaw in a prolonged and damaging trade war. "While the best case scenario appears to be a China-U.S. trade truce, the binary outcome (deal or no deal) makes it difficult for market participants to price-in risk sufficiently," DBS said in a note to clients. Singapore's inflation figures and Indonesia's trade data for May, set to be released later in the day, has curbed risk sentiment among investors who intend to assess the actual impact of escalated tensions between Washington and Beijing on the regional economies. Oil prices held firm near three-week highs hit last week after the United States and Iran came to the brink of war following Iran's shooting down of an unmanned U.S. surveillance drone. Singapore stocks dropped 0.3% ahead of inflation data, with industrials and financials weighing on the index. The index is on track to snap four straight sessions of gains. Singapore's headline inflation likely eased in May for the first time in four months as economic growth slowed, a Reuters poll showed on Friday. Jardine Matheson Holdings Ltd and United Overseas Bank Ltd dropped more than 1% each during the session. Indonesian stocks traded sideways ahead of the release of trade data. Indonesia's trade deficit is expected to have narrowed in May, following the biggest trade deficit in the country's history in April, a Reuters poll showed. Malaysian stocks dropped 0.4%, dragged by telecom stocks. Shares of Axiata Group Bhd and Maxis Bhd shed 1.8% and 1.4%, respectively. The Philippine index rose 0.2% and was set for its fifth consecutive session of gain, boosted by real estate stocks. Ayala Land Inc gained as much as 2.1% rising to a near three week high, while SM Prime Holdings Inc gained 1.2%. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS As at 0340 GMT Change on the day Market Current Previous close Pct Move Singapore 3311.03 3321.4 -0.31 Bangkok 1716.92 1717.14 -0.01 Manila 8074.79 8055.47 0.24 Jakarta 6311.652 6315.436 -0.06 Kuala Lumpur 1675.95 1682.23 -0.37 Ho Chi Minh 961.41 959.2 0.23 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3311.03 3068.76 7.89 Bangkok 1716.92 1563.88 9.79 Manila 8074.79 7,466.02 8.15 Jakarta 6311.652 6,194.50 1.89 Kuala Lumpur 1675.95 1690.58 -0.87 Ho Chi Minh 961.41 892.54 7.72 (Reporting by Shreya Mariam Job in Bengaluru; editing by Gopakumar Warrier)
