SE Asian stocks slide after risk sentiment

Southeast Asian stock markets skidded on Wednesday as investors sold off risky assets amid uncertainty surrounding the extent of progress in Sino-US trade talks and intensifying protests in Hong Kong.

In a speech at the Economic Club of New York, US President Donald Trump said the signing of an initial trade deal was close, but did not offer further details on dates or the terms of the agreement.

"Risk aversion appears to be creeping back into the markets," Han Tan, a market analyst at brokerage FXTM, said in a note.

Singapore shares closed 0.9% lower. Hongkong Land Holdings, a property manager with large assets in Hong Kong, fell 3.4% and was among the top percentage losers.

Conglomerate Jardine Strategic Holdings, which also has significant interests in the Greater China region and is the majority stakeholder in Hongkong Land, traded 4% lower.

Philippine stocks posted deep losses, dragged by heavyweights like Globe Telecom Inc and Ayala Corp, which fell 2.1% and 1.9%, respectively.

Indonesian stocks traded 0.6% lower, dragged by consumer stocks like household products maker Unilever Indonesia Tbk and animal feed maker Charoen Pokphand Indonesia Tbk.

An index of Indonesia's 45 most liquid stocks declined 1%.

Malaysian stocks slid 0.8%, dragged by a 5.4% drop in index heavyweight Petronas Chemicals Group, after the chemicals maker posted a steep fall in third-quarter profit.