SET continues to slip, other SE Asia shares mostly slide

Most Southeast Asian stock markets ended lower on Friday with Thailand posting its longest losing streak since August 2013, while investors awaited US non-farm payrolls data for cues on the pace of rate hikes in the United States.

The Stock Exchange of Thailand main index eased 3.53 points or 0.20% to close at 1,775.37, in trade worth 72.47 billion baht. The index declined for an eighth straight session, its longest losing streak since August 2013.

It was dragged down by losses in energy stocks. Energy Absolute Plc dropped 8.1% and Gulf Energy Development Plc fell 6.3%.

The Thai shares declined 2% this week after posting three straight weekly gains.

"Most (Southeast Asian) equities will look for further direction from how the Fed (US Federal Reserve) will react to the American jobs data," said Manny Cruz, an analyst with Asiasec Equities Inc.

Indonesian shares slipped, their fifth session of drop in six, pulled down by consumer stocks. Unilever Indonesia and media company Elang Mahkota were the biggest drags on the index.

Indonesian shares shed 2.3% this week, their steepest since December 2016.

The country's current account deficit is expected to widen this year, but no larger than 2.1% of the gross domestic product, said the central bank governor.

Philippine shares fell marginally with a drop in Ayala Corp outweighing a gain in SM Prime Holdings.

Data out earlier in the day showed that the Philippine export growth slowed the most in more than a year in January, keeping the country's trade deficit at a high level that could further weigh on the peso, the worst performing Asian currency.

Philippine shares declined 1% this week in their third straight weekly drop.

Broader Asian shares, however, remained firm as hopes of a breakthrough in the North Korean nuclear standoff rose.

US President Donald Trump said he was prepared to meet North Korea's Kim Jong-un in what would be the first face-to-face encounter between the two countries' leaders.