SE Asia Stocks-Philippine shares snap 4 day losing streak; other mkts range-bound
April 29 (Reuters) - Southeast Asian shares were mostly range-bound on Tuesday with investor appetite muted after a late rally on Wall Street and as markets in Tokyo were closed for a holiday. Philippine stocks outperformed other markets, with the main index snapping four straight sessions of losses to edge up 0.4 percent. Analysts attributed the gains to bargain-hunting among investors and a rally on Wall Street, with the Dow Jones index closing 0.53 percent firmer. "The market has been taking its cue from the recovery in the Dow Jones, but there has also been some bargain-hunting involved," said a Philippine-based market strategist from Asiasec Equities. Top performers on the index include Philippines' biggest power utility firm Manila Electric Co and property company Robinsons Land Corp, which advanced 3 percent and 2.3 percent respectively. Financial results from a slew of companies are expected this week, which has given investors room for optimism. Casino operator Bloomberry Resorts Corp posted a strong recovery in first-quarter profit on Monday. Bloomberry shares were among the top gainers, rising 1.9 percent to their highest in more than seven months. Other markets were mostly range-bound, with Malaysia , Indonesia and Vietnam remaining little changed. Singapore's benchmark Straits Times Index fell 0.4 percent, dragged by losses in United Overseas Bank Ltd which reached its ex-dividend date, prompting a sell-off from investors. Shares of UOB, the smallest of Singapore's three banks by assets, plunged as much as 4.8 percent to hit their lowest in 5 weeks. Losses in Jardine Cycle & Carriage Ltd also weighed on the index, falling 3.5 percent to a 2-1/2 week low. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 416.35 417.29 -0.23 Singapore 3230.23 3242.71 -0.38 Kuala Lumpur 1856.16 1855.74 +0.02 Bangkok 1408.19 1411.23 -0.22 Jakarta 4812.38 4818.76 -0.13 Manila 6632.73 6604.35 +0.43 Ho Chi Minh 573.82 573.10 +0.13 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. (Reporting by Andrew Toh; Editing by Anupama Dwivedi)
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