SE Asia Stocks-Philippines set for 4th winning week, S'pore to mark weekly drop
* Broader Asian shares steady amid Sino-U.S. trade spat
* Singapore set for 1.4 pct weekly drop
By Syed Saif Hussain Naqvi
Aug 3 (Reuters) - Southeast Asian stock markets stuck to
narrow trading ranges on Friday, before the release of the
closely watched monthly U.S. jobs report, which may provide
clues on the pace of Federal Reserve interest rate increases.
Broader Asian shares held steady following tech-led gains on
Wall Street, as lingering trade worries sapped investor
confidence, with China vowing to retaliate if Washington pursued
its threat of increasing tariffs to 25 percent from 10 percent
on $200 billion of Chinese imports.
"Asian markets may trade sideways today, awaiting tonight's
US labour market report, specifically the nonfarm payrolls,
unemployment rate and average hourly earnings," OCBC Bank said
in a note.
Singapore shares were set for a 1.4 percent weekly
drop, edging slightly lower on Friday.
DBS Group Holdings extended losses after reporting
a lower-than-expected second-quarter profit on Thursday.
However, its rival United Overseas Bank reported a
28 percent jump in second-quarter profit on Friday, exceeding
market expectations, sending its shares higher.
The Philippines was on track for its fourth gaining
week as shares rebounded on Friday after the previous session's
1 percent slide.
Lender Metropolitan Bank & Trust Co gained 3.3
percent, while Bank Of The Philippine Islands rose 1.2
percent.
Malaysian shares held steady as losses in telecom
shares offset gains in utilities. Telekom Malaysia Bhd
dropped 3.6 percent while Axiata Group BDH slipped 1.8
percent.
Malaysia's exports rebounded in June from the previous
month, but the pace of growth was well below expectations as
commodity shipments fell, data showed.
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SOUTHEAST ASIAN STOCK MARKETS as at 0420 GMT
Market Current Previous close Pct Move
Singapore 3279.54 3286.32 -0.21
Bangkok 1714.96 1708.28 0.39
Manila 7779.22 7759.55 0.25
Jakarta 5999.057 6011.723 -0.21
Kuala Lumpur 1778.44 1778.13 0.02
Ho Chi Minh 960.9 953.55 0.77
Change on year
Market Current End 2017 Pct Move
Singapore 3279.54 3402.92 -3.63
Bangkok 1714.96 1753.71 -2.21
Manila 7779.22 8558.42 -9.10
Jakarta 5999.057 6355.654 -5.61
Kuala Lumpur 1778.44 1796.81 -1.02
Ho Chi Minh 960.9 984.24 -2.37
(Reporting by Syed Saif Hussain Naqvi in Bengaluru; Editing by
Amrutha Gayathri)