内容摘要：* Most lose early gains after weak Chinese factory data* Real estate stocks boost Philippines, Vietn what does recirculate do on a pool pump

* Most lose early gains after weak Chinese factory data

* Real estate stocks boost Philippines,what does recirculate do on a pool pump Vietnam

By Rashmi Ashok

Jan 2 (Reuters) - Singaporean and Malaysian shares sank on

Wednesday after disappointing economic data from China, while a

rally in real estate stocks drove Philippine and Vietnamese

equities higher.

Other Asian markets also fell after a private survey showed

that China's factory activity had contracted for the first time

in 19 months in December as domestic and export orders continued

to weaken.

The news is the latest in a slew of worrying economic data

from Southeast Asia's biggest trading partner, reinforcing fears

that China's economy is losing more steam amid a bitter trade

war with the United States.

Singapore's benchmark index shed nearly 1 percent as

sentiment was further dampened by preliminary data which showed

that the city-state's economy grew 1.6 percent in the fourth

quarter from the third on an annualised basis, much slower than

expectations.

Shares in industrial conglomerate Jardine Matheson Holdings

Ltd were off 1.7 percent, while those in lender

Oversea-Chinese Banking Corp dropped 1.6 percent.

Malaysian equities also dropped sharply, with a 2.3

percent slide each in Sime Darby Plantation Bhd and

gas retailer Petronas Dagangan Bhd pulling the

benchmark down 0.86 percent.

Meanwhile, Philippine stocks, which suffered the

steepest drop in the region during 2018, rose 0.19 percent,

paring gains from a 1 percent surge in early trade.

Philippine heavyweight Ayala Land Inc gained 0.7

percent after losing about 4 percent over the two final weeks of

2018.

"Ayala Land fell a lot last week, so it could be

bargain-hunting along with the improved sentiment after

President Trump said that talks with China are progressing,"

said Fio Dejesus, an analyst at RCBC Securities in Manila.

The Sino-U.S. trade spat has dominated headlines in Asian

markets and U.S. President Donald Trump's Twitter message that

he had a "long and very good call" with his Chinese counterpart

about trade issues provided some respite to stocks last week.

The real estate sector also powered gains in Vietnamese

shares, with Vingroup JSC rising 5.8 percent and

Vincom Retail JSC advancing 2.7 percent.

Thai stocks also rose, with the energy and financial

sectors underpinning gains. PTT PCL rose 0.5 percent.

For Asian Companies click:

SOUTHEAST ASIAN STOCK MARKETS at 0321 GMT

Change on the day

Market Current Previous close Pct Move

Singapore 3038.87 3068.76 -0.97

Bangkok 1568.96 1563.88 0.32

Manila 7479.98 7466.02 0.19

Jakarta 6186.199 6194.498 -0.13

Kuala Lumpur 1676.08 1690.58 -0.86

Ho Chi Minh 896.9 892.54 0.49

Change so far in 2019

Market Current End 2018 Pct Move

Singapore 3038.87 3068.76 -0.97

Bangkok 1568.96 1563.88 0.32

Manila 7479.98 7,466.02 0.19

Jakarta 6186.199 6,194.50 -0.13

Kuala Lumpur 1676.08 1690.58 -0.86

Ho Chi Minh 896.9 892.54 0.49

(Reporting by Rashmi Ashok in Bengaluru; Editing by Sai Sachin

Ravikumar)

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