* Vietnamese shares hit near-three-week closing low
* Thai energy stocks drag on index as oil prices tumble
* Malaysia Oct inflation rises 1.1%, above Reuters forecast
By Arundhati Dutta
Nov 20 (Reuters) - Most Southeast Asian markets slipped on
Wednesday on fears that strained Sino-U.S. relations could
derail trade negotiations after U.S President Donald Trump
threatened fresh tariffs and the U.S. Senate passed a bill
backing Hong Kong protesters.
President Trump on Tuesday said that tariffs on Chinese
imports would be increased if the two nations fail to reach a
trade deal. People familiar with the talks say that Trump has decided
that any tariff rollbacks from the United States would require
deeper concessions from China. The U.S. Senate, meanwhile, has passed a bill aimed at
protecting human rights of pro-democracy protesters in Hong
Kong, drawing a rebuke from Beijing, which asked the United
States to stop interfering in China's internal affairs.
"Such a move threatens to drive a wedge into ongoing
U.S.-China negotiations while potentially raising the barrier to
a trade deal," FXTM market analyst Han Tan said in a note,
referring to the bill.
Leading declines, Vietnamese shares .VNI fell 0.8% to
their lowest close since Oct. 31, with financials weighing on
the index.
A steep drop in oil prices drove the Thai index .SETI 0.7%
lower, with heavyweight energy company PTT PCL PTT.BK shedding
as much as 2.3% to close at its lowest in more than two months.
Philippines stocks .PSI clawed back losses to end 0.2%
down, hurt by miner Semirara Mining and Power Corp SCC.PS ,
which fell 6.6% for its biggest daily drop since November last
year.
It's majority owner DMCI Holdings DMC.PS shed 8.4% to its
lowest closing level in nearly eight years.
Semirara flagged significant loss in production potential
because of a Department of Energy directive asking it to suspend
all mining activities in relation to a coal contract, citing a
mudflow incident in October. Malaysian shares .KLSE shed 0.3%, with power utility
Tenaga Nasional TENA.KL falling 0.7% and telecoms company
Axiata Group AXIA.KL down 1.4%.
The index pared losses after data showed Malaysia's consumer
prices grew by 1.1% in October, slightly higher than a 1%
increase forecast by Reuters. Mild inflation in recent times and sluggish economic growth
in the third quarter, combined with a slump in exports and
mining, have fuelled expectations of a rate cut by Malaysia's
central bank early next year.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3229.78 3238.87 -0.28
Bangkok 1596.83 1607.25 -0.65
Manila 7898.06 7912.14 -0.18
Jakarta 6155.109 6152.09 0.05
Kuala Lumpur 1601.14 1605.31 -0.26
Ho Chi Minh 1000.56 1008.35 -0.77
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3229.78 3068.76 5.25
Bangkok 1596.83 1563.88 2.11
Manila 7898.06 7,466.02 5.79
Jakarta 6155.109 6,194.50 -0.64
Kuala Lumpur 1601.14 1690.58 -5.29
Ho Chi Minh 1000.56 892.54 12.10