SE Asia Stocks-Most trade sideways ahead of U.S. payroll data, Philippines gains
* All eyes on U.S. non-farm payrolls data * Philippines June inflation slows to near 2-year low * Philippine cenbank may cut 25bps as early as Aug - ING * Thailand set to snap 6 weeks of gain * Vietnam set to be top gainer for the week, up 2.5% By Rashmi Ashok July 5 (Reuters) - Most Southeast Asian stock markets traded sideways on Friday, as investors adopted a cautious stance ahead of key U.S. non-farm payroll data, while the Philippines rallied on rising hopes of a rate cut. Asian markets will adopt a wait-and-watch mode, with all eyes on the crucial U.S. non-farm payroll report, which investors will take as another signal on whether the U.S. Federal Reserve would cut rates, ING said in a note. Data on U.S. non-farm payrolls is due later at 1230 GMT. As risk sentiment took a breather, trading volumes of most regions stayed at just a fraction of their 30-day average. Philippine stocks rallied on rising hopes of a rate cut as early as August, after data showed the country's annual inflation easing to a near two-year low in June, as food and fuel costs increased at a slower pace. It was also the first time since December 2017 that inflation eased below the midpoint of the central bank's 2%-4% target this year. "The Bangko Sentral ng Pilipinas (BSP) Governor Diokono has hinted at further rate cuts on the back of falling inflation. Falling inflation and persistent downside growth risks should move the BSP for another 25bp rate cut as early as August," read ING's note. The index was boosted by strong gains notched by heavyweight stocks SM Investments Corp and Ayala Land. Thai stocks traded flat, after a sharp drop in the previous session. Despite the day's gains, the index is set to post a weekly loss of about 0.2% and snap six straight weeks of gains. Malaysian stocks slipped, dragged by large-caps such as Tenaga Nasional and Axiata Group, which fell 2.1% and 1.3%, respectively. Singapore stocks were trading flat, but set to clock five straight winning weeks. Indonesia's index was also unmoved on the day, but poised for a six-week winning streak. Meanwhile, Vietnam's index is set to be the best performer for the week, up about 2.5%. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS at 0303 GMT Change on the day Market Current Previous close Pct Move Singapore 3369.55 3372.25 -0.08 Bangkok 1726.28 1724.37 0.11 Manila 8110.7 8064.92 0.57 Jakarta 6376.092 6375.967 0.00 Kuala Lumpur 1682.25 1687.48 -0.31 Ho Chi Minh 974.13 973.04 0.11 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3369.55 3068.76 9.80 Bangkok 1726.28 1563.88 10.38 Manila 8110.7 7,466.02 8.63 Jakarta 6376.092 6,194.50 2.93 Kuala Lumpur 1682.25 1690.58 -0.49 Ho Chi Minh 974.13 892.54 9.14 (Reporting by Rashmi Ashok in Bengaluru; editing by Uttaresh.V)
