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Financial Services

SE Asia Stocks-Edge lower tracking broader Asia

    * China Q3 GDP growth slowest since global financial crisis
    * Philippine shares down after 3 straight sessions of gains
    * Malaysian shares decline over 1 pct to hit one-week low

    By Rashmi Ashok
    Oct 19 (Reuters) - Southeast Asian stock markets inched
lower on Friday, tracking weakness in broader Asia on concerns
about China's growth,  trade disputes, rising U.S. interest
rates and Italy's free-spending budget.
    China's third-quarter economic growth slowed to its weakest
pace since the global financial crisis, and missed expectations,
as a years-long campaign to tackle debt risks and the trade war
with the United States began to bite.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was 0.3 percent weaker, while the Shanghai
Composite index fell as much as 1.5 percent to its
lowest since Nov. 21, 2014. 
    Malaysian shares declined 1.1 percent to a one-week
low, before erasing some of the losses. Telecom stocks were the
top losers with Telekom Malaysia Berhad shedding 3.2
percent and Maxis Berhad declining 2 percent.
    "We attribute the early losses to a knee-jerk reaction over
the 1.3 percent drop in the Dow Jones Industrial Average
overnight," said Kifni Kamaruddin, chief strategist at MIDF
    Investors remained cautious, especially in view of the
heightened market volatility seen on Wall Street, and for the
rest of the day, cues may likely emerge from foreign economies,
he added.
    Singapore shares edged lower, dragged by Yangzijiang
Shipbuilding (Holdings) Ltd, which fell 11 percent,
and palm oil processor Golden Agri-Resources Ltd,
which declined 4.1 percent. The key benchmark stock index was
down 0.2 percent for the week.
    Philippine shares were down after three straight
sessions of gains, hurt by industrial and real estate stocks. 
    Property and retail conglomerate SM Investments Corp
fell 0.9 percent, while index heavyweight Ayala Land Inc
 declined 0.5 percent.
    Indonesian shares slipped for a second session in a
row, with sector heavyweight Telekomunikasi Indonesia Tbk
 shedding 1.3 percent and Bank Central Asia Tbk PT
 declining 0.5 percent.
    Vietnam shares were the biggest losers in the region
with a drop of up to 1.8 percent. Oil and gas company
Petrovietnam Gas Joint Stock Corporation dropped 3.1
percent, while Vingroup Joint Stock Company fell 1.1
For Asian Companies click;  

 Market             Current  Previous close  Pct Move
 Singapore          3062.3   3069.67         -0.24
 Bangkok            1671.68  1682.91         -0.67
 Manila             7116.88  7141.25         -0.34
 Jakarta            5841.1   5845.242        -0.07
 Kuala Lumpur       1729.92  1738.01         -0.47
 Ho Chi Minh        953.13   963.47          -1.07
 Change on year                              
 Market             Current  End prev yr     Pct Move
 Singapore          3062.3   3402.92         -10.01
 Bangkok            1671.68  1753.71         -4.68
 Manila             7116.88  8,558.42        -16.84
 Jakarta            5841.1   6,355.65        -8.10
 Kuala Lumpur       1729.92  1796.81         -3.72
 Ho Chi Minh        953.13   984.24          -3.16
 (Reporting by Rashmi Ashok; Editing by Subhranshu Sahu)


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