Thai shares fall most in 11 months; Philippines rebounds

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(Oct 19): Thai shares on Thursday recorded their biggest single-day fall since mid-November while Philippine shares reversed losses by the end of the session.

Sentiment in the region was dampened by a fall in Asian stocks which shed gains after data showed that growth in China slowed slightly in the third quarter.

Thai shares dropped as much as 1.6% despite data showing a trade surplus in September. Thailand also raised its 2017 export growth forecast to over 8%.

Malaysian shares slipped as much as 0.4% to their lowest since April 20 ahead of the monthly inflation data due on Friday.

The consumer price index likely rose 4.3% in September, according to analysts polled by Reuters, indicating an increase in the inflation rate for a second straight month.

Indonesian stocks ended 0.3% lower ahead of a policy meeting later in the day in which the central bank is expected to stay pat on the monetary policy.

"Market and Mirae expect key interest rates to remain unchanged at 4.25%," Mirae Asset Sekuritas said in a note.

The Indonesian sub-index, comprising 45 most liquid stocks on the benchmark, lost as much as 0.9% with Telekom Indonesia leading decliners.

Indonesian crude palm oil exports are expected to dip slightly in September from the previous month while output from the world's top producer of the commodity grew, according to a Reuters survey.     

Philippine shares recouped early losses to end 0.7% higher. Index heavyweight Ayala Corp was the top gainer on the benchmark.

The Philippine military said there was a "big possibility" that a top Malaysian militant tipped to become Islamic State's point man in Southeast Asia was killed in battle, during the Marawi seige, the country's biggest security crisis in years.

Singapore shares rose for a fifth session in six, with United Overseas Bank and DBS Group Holdings the leading the gains.

Singapore Exchange Ltd and US-based Nasdaq formed a pact to support fast growing Asian companies to list on both capital markets, possibly simultaneously.

SOUTHEAST ASIAN STOCK MARKETS
Change on the day

Market             Current     Previous close   % move
Singapore          3334.91     3329.03    0.18
Bangkok            1683.43     1707.53    -1.41
Manila             8487.37     8431.73    0.66
Jakarta            5910.53     5929.201   -0.31
Kuala Lumpur       1743.99     1748.99    -0.29
Ho Chi Minh        828.93      827.72     0.15

Change on year

Market             Current     End 2016   % move
Singapore          3334.91     2880.76    15.76
Bangkok            1683.43     1542.94    9.11
Manila             8487.37     6840.64    24.1
Jakarta            5910.53     5296.711   11.59
Kuala Lumpur       1743.99     1641.73    6.23
Ho Chi Minh        828.93      664.87     24.7