Most South East Asia markets close lower

Most Southeast Asian stock markets edged down on Friday amid caution over developments in US-China trade negotiations, while Vietnam shares rose 1 percent after two straight sessions of sharp falls. China denied that it had offered a package to slash the US trade deficit by up to $200 billion, hours after it dropped an anti-dumping probe into US sorghum imports in a conciliatory gesture as top officials meet in Washington.
Philippine shares closed 0.3 percent lower as industrials and financials tumbled. SM Investments dropped 2.6 percent, while Ayala Corp declined 1.2 percent. Foreign investors net sold 715.3 million shares on Friday.
The Philippine key stock index shed a little more than 1 percent this week following a 2.7 percent gain last week. Indonesian shares rose in early trade before erasing the gains to close lower.
The central bank raised the benchmark interest rate on Thursday to support the rupiah, but the currency fell to a more than 2-1/2-year low on Friday. Bank Indonesia's (BI) governor stressed that the central bank is ready to act again to "ensure stability". BI's next policy meeting is on June 27-28, about two weeks after a US Federal Reserve meeting.
Automotive company Astra International was the top drag, followed by Bank Negara. They declined nearly 3 percent each.
Indonesian shares declined 3 percent this week, erasing last week's 2.8 percent gain.
In Vietnam, consumer stocks were the top gainers. Vietnam Dairy Products rose 3.7 percent and Saigon Beer Alcohol Beverage Corp gained 4.5 percent.
Thai stocks rose 0.2 percent with telecoms driving the gains.
True Corp, Thailand's second largest mobile operator, climbed 5.9 percent after the company said it will not bid in an 1800-megahertz spectrum auction in August.
Sector bellwether Advanced Info Service gained 1.9 percent, while Total Access Communications, the country's third-ranked mobile operator, rose 6.8 percent.
For the week, Thai stocks declined 0.7 percent, in their second straight weekly drop.