SE Asia Stocks-Singapore falls, most others subdued after weak data

By Rashmi Ashok

* Singapore slips after 1.5% gain on Monday * Investors cautious after weak PMI data - analyst * Most trading volumes at fraction of 30-day average By Rashmi Ashok July 2 (Reuters) - Singapore shares fell on Tuesday with most other Southeast Asian stock markets remaining subdued, as worries over weakening manufacturing activity and slowing economic growth hit risk appetite and dimmed enthusiasm around the Sino-U.S. trade truce. A host of disappointing manufacturing activity data for June from various countries spoke tales of slowing economies, with activity across U.S. and Europe sharply slowing. Investors kept to the sidelines awaiting further catalysts, with trading volumes of across most regions at just a fraction of their 30-day average. Singapore's index fell 0.6%, after a massive 1.5% gain in the previous session, its highest in nearly two months. The index rose 8.1% in the last one month. Most large-cap stocks saw some profit taking, with Venture Corp down 1.9% and lender DBS Group Holdings giving up 0.5%. "Investors are being cautious because economic data, such as PMIs, have been weak," said Liu Jinshu, director of research at Tayrona Financial Pte Ltd. "Hence, attention is turning towards the earnings season with investors looking for cues from major companies such as the large semiconductor companies," he added. Meanwhile, Malaysia's index was the sole region which managed to post modest gains, rising 0.6%. Oil and gas refiner Petronas Dagangan added 1.2% while electric utilities provider Tenaga Nasional rose 1.3%. Investors appeared to shrug off Monday's data, which showed the country's June manufacturing activity slipping. Analysts were of the view that the current challenges to Malaysia's manufacturing sector would likely change course soon. "The challenging environments are expected to be short-lived, as businesses became more optimistic towards the future. Sentiment about the outlook has strengthened to its highest since October 2013," MIDF Research said in a note. "The recent positive development in the U.S.-China trade tensions supports the expectation. We anticipate that the economy will grow better in 2Q19 onwards," MIDF added. The Indonesian benchmark inched higher, with cigarette maker Gudang Garam Tbk and telecom company Indosat Tbk rising 1.7% and 1%, respectively. Philippine stocks also rose, helped by gains in conglomerates such as SM Investments Corp and telco Globe Telecom Inc. Thailand's index slipped, as falling energy prices put pressure on its heavyweight energy stocks. Vietnam's index also traded lower. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS at 0343 GMT Change on the day Market Current Previous close Pct Move Singapore 3353.32 3372.26 -0.56 Bangkok 1736.61 1740.91 -0.25 Manila 8073.13 8043.71 0.37 Jakarta 6385.975 6379.688 0.10 Kuala Lumpur 1692.87 1683.62 0.55 Ho Chi Minh 963.14 965.61 -0.26 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3353.32 3068.76 9.27 Bangkok 1736.61 1563.88 11.04 Manila 8073.13 7,466.02 8.13 Jakarta 6385.975 6,194.50 3.09 Kuala Lumpur 1692.87 1690.58 0.14 Ho Chi Minh 963.14 892.54 7.91 (Reporting by Rashmi Ashok in Bengaluru; Editing by Rashmi Aich)