SE Asia Stocks-Cautious ahead of Trump speech

By Susan Mathew

Feb 27 (Reuters) - Southeast Asian stock markets moved

sideways on Monday, in line with Asian peers ahead of U.S.

President Donald Trump's speech to a joint session of Congress

on Tuesday night, where he is expected to unveil some elements

of his plans to cut taxes.

Trump would use the speech to disclose some elements of his

sweeping plans to cut taxes for the middle class, simplify the

tax system and make American companies more globally competitive

with lower rates and changes to encourage manufacturing,

Treasury Secretary Steven Mnuchin said in an interview broadcast

on Sunday.

Investors will also be looking for details on how Trump

would like to overhaul former president Barack Obama's signature

healthcare law.

"Well what is affecting the market is how Trump will address

the Congress and I guess Fed Chairman Janet Yellen will also

speak in the Congress," said Manny Cruz, chief strategist at

Asiasec Equities Inc.

"So, there is a lot of tension in the market at this point.

If you look at the broad regional market, it is simply moving

sideways."

Yellen is also scheduled to deliver a speech on economic

outlook on Friday.

Investors will also be looking out for a slew of economic

data on the region as well as globally this week.

Thai shares dropped 0.4 percent in what could be

their third straight session of falls with basic materials

leading the decline.

The Thai steel index was down 3.3 percent with

Permsin Steel Works Pcl and Asia Metals

shedding more than 12 percent each.

Thailand's custom-based exports rose 8.8 percent in January,

compared with a forecast of 9.85 percent in a Reuters poll, and

imports rose 5.2 percent against expectations of 11.9 percent.

Singapore shares were down 0.3 percent as consumer

and industrial stocks lost ground. Golden Agri-Resources Ltd

fell as much as 3.75 percent to its lowest in more

than three months, while Jardine Matheson Holdings Ltd

declined up to 1.2 percent.

Malaysian shares rose 0.2 percent, heading for their

first gain in three sessions. Consumer stocks led gains with

Kuala Lumpur Kepong Bhd rising 1.3 percent and Genting

Bhd climbing nearly 1 percent.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0453 GMT

Market Current Previous Close Pct Move

Singapore 3107.89 3117.03 -0.29

Bangkok 1559.15 1564.59 -0.35

Manila 7262.86 7258.99 0.05

Jakarta 5373.8 5385.906 -0.22

Kuala Lumpur 1702.03 1698.35 0.22

Ho Chi Minh 714.95 714.47 0.07

Change on year

Market Current End 2016 Pct Move

Singapore 3107.89 2880.76 7.88

Bangkok 1559.15 1542.94 1.05

Manila 7262.86 6840.64 6.2

Jakarta 5373.8 5296.711 1.46

Kuala Lumpur 1702.03 1641.73 3.67

Ho Chi Minh 714.95 664.87 7.5

(Reporting by Susan Mathew in Bengaluru; Additional reporting

by Sandhya Sampath; Editing by Subhranshu Sahu)