SE Asia Stocks-Philippines falls over 1%; Indonesia lower as exports, imports drop

* Indonesia set for second straight week of losses * China retail sales fell 7.5% vs forecast of 7% * Thai shares flat By Pranav A K May 15 (Reuters) - Philippine shares dropped more than 1% on Friday, dragged down by the financial sector, while stocks in Indonesia hit an over three-week low after data showed that Southeast Asia's largest economy swung back to a trade deficit in April. Markets in the region were also pressured by worsening Sino-U.S. relations over the new coronavirus, as President Donald Trump said he had no interest in speaking to his Chinese counterpart Xi Jinping right now and suggested that he could even cut ties with China. "As the US faces the worst of the health crisis, President Trump’s attempts at deflection seem likely to engender hawkish policy towards China, threatening business relations and the trade outcomes of 2019," ANZ Research said. Banking stocks, which have seen their profits shrink due to the pandemic, dominated the losses in the Philippines, with Metro Pacific Investments and BDO Unibank falling 2.2% and 1.2%, respectively. Indonesian shares were 0.4% lower, having fallen as much as 1.2% earlier. The country's $350 million trade deficit in April was larger than the $200 million gap expected in a Reuters poll, as exports and imports plunged. The country's benchmark was poised for its second straight weekly loss. Further weighing on sentiment, retail sales in China, the region's biggest trade partner, fell by 7.5% in April, compared with a forecast 7.0% fall, even as industrial production data came in better than expected. "I believe the market is chasing its tail increasingly and the retail sales has given the short term negative ascendency," senior market analyst at OANDA Jeffrey Halley said. Stocks in Vietnam ticked lower, while Thai shares were little changed as energy stocks lent support on the back of higher oil prices. Meanwhile, the Malaysian benchmark index added 0.6% and was set for a third straight session of gains, helped by industrial stocks. Shares of MISC Bhd rose 2.6%, while Sime Darby Bhd gained 2.1%. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0405 GMT Change on the day Market Current Previous close Pct Move Singapore 2526.65 2522.31 0.17 Bangkok 1280.67 1280.4 0.02 Manila 5586.46 5654.7 -1.21 Jakarta 4492.933 4513.834 -0.46 Kuala Lumpur 1404.96 1397.25 0.55 Ho Chi Minh 829.02 832.4 -0.41 Change so far in 2020 Market Current End 2019 Pct Move Singapore 2526.65 3222.83 -21.60 Bangkok 1280.67 1579.84 -18.94 Manila 5586.46 7,815.26 -28.52 Jakarta 4492.933 6,299.54 -28.68 Kuala Lumpur 1404.96 1588.76 -11.57 Ho Chi Minh 829.02 960.99 -13.73 (Reporting by A K Pranav in Bengaluru; Editing by Aditya Soni)