* Philippines hits 6-week low, Ayala Land drops
* Singapore snaps 3 straight sessions of losses
* U.S. bills on Hong Kong 'wild card' in trade talks -OCBC
By Arundhati Dutta
Nov 22 (Reuters) - Singapore shares recovered on Friday
after a steep drop in the previous session, but other Southeast
Asian markets remained subdued amid mounting worries that U.S.
backing of Hong Kong protesters may worsen its ties with China.
Though the Chinese commerce ministry said it was willing to
work with the United States to reach an interim trade deal,
investors continued to fret, with U.S. President Donald Trump
set to sign into law the bills backing Hong Kong protesters.
Terming the bills "a wild card" for the market, OCBC
Treasury Research said in a note that China's reaction may hold
the key to investor sentiment, given there is no detailed
retaliation plan yet.
Singapore shares .STI gained 0.5% after shedding 2% in the
last three sessions, as investors snapped up beaten-down stocks.
Despite Friday's gains, the index is set for its biggest weekly
drop in seven weeks.
Philippine shares .PSI fell over 1.2% to a six-week low,
heading for their worst week in more than three months.
Developer Ayala Land Inc ALI.PS , the fourth-largest stock
on the index, slipped as much as 3% to its lowest in nearly
eight months.
Losses in big caps such as Ayala Land Inc ALI.PS came from
weak sentiment in the region, according to Charles William Ang,
an associate analyst at COL Financial Group.
Conglomerate DMCI Holdings DMC.PS also weighed on the
index, extending losses after the energy department announced a
ban on operations of a coal miner, in which it is a major
stakeholder.
Indonesian stocks .JKSE edged lower, hurt by financials
and communications stocks. Index heavyweight Pt Telekomunikasi
Indonesia TLKM.JK shed 0.5%.
Vietnamese shares .VNI slipped 0.5% to their lowest in
over two months and were set for a third straight session of
losses, with real estate stocks weighing on the index.
Malaysian .KLSE and Thai .SETI stocks were little
changed.
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Change on the day
Market Current Previous close Pct Move
Singapore 3208.68 3192.21 0.52
Bangkok 1591.99 1591.86 0.01
Manila 7726.01 7818.89 -1.19
Jakarta 6096.722 6117.364 -0.34
Kuala Lumpur 1593.09 1592.19 0.06
Ho Chi Minh 983.14 987.89 -0.48
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3208.68 3068.76 4.56
Bangkok 1591.99 1563.88 1.80
Manila 7726.01 7,466.02 3.48
Jakarta 6096.722 6,194.50 -1.58
Kuala Lumpur 1593.09 1690.58 -5.77
Ho Chi Minh 983.14 892.54 10.15