SE Asia Stocks-Most tepid on trade caution; Indonesia falls 1% as banks weigh

By Sameer Manekar

* U.S.-China trade deal could be delayed to Dec - official * Indonesia hits near one-month low * Philippines Q3 GDP came in better than forecast By Sameer Manekar Nov 7 (Reuters) - Indonesian shares fell more than 1% on Thursday, dragged by heavy losses in financials, while other Southeast Asian markets treaded water as signs of a delay in Washington and Beijing sealing an interim trade deal dampened sentiment. Reuters on Wednesday reported that a meeting between U.S. President Donald Trump and China's Xi Jinping to sign the long-awaited interim trade deal could be delayed until December. Officials are still scoping venues for the meeting, which was originally scheduled to take place on the sidelines of a now-cancelled mid-November summit of Asia-Pacific leaders in Chile. "The location of any deal ceremony is considerably less important than any willingness to sign a deal at all. Or to the substance of any such deal," ING said in a note. "The question really is, do we even get a December deal?" The Indonesian index seemed underwhelmed by the trade news, but shares dropped after President Joko Widodo urged bank executives to help spur growth with cuts in lending rates and loans, following feeble third-quarter growth data. The index touched its lowest in nearly a month, with financials taking a hit as the government's statement could pressure lenders' margins. Bank Rakyat Indonesia and Bank Mandiri (Persero) dropped 4.3 and 2.5%, respectively. An index of the country's 45 most liquid stocks were set to declined 1.8%. Meanwhile, a delay in a long-awaited trade deal suppressed trading in Singapore, with industrials dragging the index lower. Jardine Strategic Holdings lost 1.5%, while financial sectors supported the index, with Capitaland Ltd posting a 1.1% gain. The Philippine bourse traded flat after closing 2.3% weaker on Wednesday, after data showed that the country's economy grew better than expected in the third quarter. Blue-chip stocks recovered from a plunge in the previous session, with SM Prime Holdings and Ayala Corp climbing as much as 2.5% and 0.7%. Thai stocks edged lower, dragged by energy and materials sectors, while Malaysia's benchmark index was little changed. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0445 GMT Market Current Previous close Pct Move Singapore 3263.53 3262.69 0.03 Bangkok 1622.08 1623.99 -0.12 Manila 8022.21 8025.88 -0.05 Jakarta 6132.878 6217.545 -1.36 Kuala Lumpur 1603.09 1603.25 -0.01 Ho Chi Minh 1025.4 1024.91 0.05 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3263.53 3068.76 6.35 Bangkok 1622.08 1563.88 3.72 Manila 8022.21 7,466.02 7.45 Jakarta 6132.878 6,194.50 -0.99 Kuala Lumpur 1603.09 1690.58 -5.18 Ho Chi Minh 1025.4 892.54 14.89 (Reporting by Sameer Manekar in Bengaluru, Editing by Sherry Jacob-Phillips)