SE Asia Stocks-Most subdued on trade talk concerns; Indonesia climbs

By Shreya Mariam Job

* Philippines snaps five-day rally * Thai cenbank policy decision on Wednesday * Indonesia snaps three-day losing streak By Shreya Mariam Job June 25 (Reuters) - Most Southeast Asian stock markets traded sideways on Tuesday, as investors remained wary ahead of a crucial meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping on the sidelines of the G20 summit. Trump views the meeting as a chance to see where Beijing stands on the trade war, and is "comfortable with any outcome" from the talks, a senior U.S. official said on Monday. Investors across the board exercised caution amid the uncertainty shrouding the results of the meeting with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.4%. Philippine's index snapped five consecutive sessions of gains and ended 0.3% lower, with losses among heavyweight real estate stocks weighing on the index. Ayala Land Inc and SM Prime Holdings Inc shed 2.4% and 1.2%, respectively. The country had a budget balance of 2.6 billion pesos ($50.62 million) in May. Financial stocks pulled Singapore's benchmark index marginally lower, with DBS Group Holdings Ltd and United overseas Bank Ltd down 0.7% and 0.6%, respectively. Thai stocks reversed course to end the session 0.3% higher, as investors awaited key policy decisions by the Bank of Thailand on Wednesday. The country's central bank is expected to keep its benchmark policy rate steady for a fourth straight meeting, according to a Reuters poll. ING, an outlier calling a cut in the upcoming policy meeting, forecast a 25 basis point policy rate cut to 1.50%. "...both equities and government bonds stand to benefit from lower interest rates, without causing too much impact for the currency, which is benefiting from a strong external payments position," ING said in a note to clients. Meanwhile, the country's May manufacturing production index dropped 3.99% from a year earlier compared to a forecast fall of 0.1% in a Reuters poll. Shares of Charoen Pokphand Foods PCL and Indorama Ventures PCL gained 1.8% and 1.6%, respectively. Indonesian stocks snapped three sessions of losses and gained 0.5%, boosted by material and energy stocks with a 7% rise in Bayan Resources Tbk Pt and 0.8% rise in Telekomunikasi Indonesia supporting the index. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3304.27 3311.53 -0.22 Bangkok 1721.33 1716 0.31 Manila 8034.09 8060.58 -0.33 Jakarta 6320.445 6288.465 0.51 Kuala Lumpur 1676.61 1676.13 0.03 Ho Chi Minh 960.13 962.85 -0.28 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3304.27 3068.76 7.67 Bangkok 1721.33 1563.88 10.07 Manila 8034.09 7,466.02 7.61 Jakarta 6320.445 6,194.50 2.03 Kuala Lumpur 1676.61 1690.58 -0.83 Ho Chi Minh 960.13 892.54 7.57 ($1 = 51.3600 Philippine pesos) (Reporting by Shreya Mariam Job in Bengaluru; Editing by Rashmi Aich)