SE Asia Stocks-Most indexes range-bound; Philippines outperforms
SINGAPORE, May 2 (Reuters) - Most Southeast Asian markets were range-bound on Friday, after Wall Street stocks dipped on Thursday and as borderline growth in China's manufacturing activity curbed investor appetite for further risk and prompted profit-taking. "Wall Street didn't do very well, and we also saw the China manufacturing numbers which weren't very inspirational. So investors are probably taking some profits off the table," said a Singapore-based analyst from OCBC. Activity in China's factories increased marginally in April but export orders fell sharply, a government survey showed on Thursday, adding to questions about whether the world's second-largest economy is stabilising after its first-quarter slowdown. Philippines outperformed the region following a week of solid corporate earnings, with its Manila Index stretching gains into a third straight session to rise 0.5 percent. The benchmark was buoyed by gains in food service company Jollibee Foods Corp and property firm SM Prime Holdings Inc which rose 1.74 percent and 1.72 percent respectively. The Thai SET index and Indonesia's Jakarta Composite Index also saw slight gains, with both advancing 0.2 percent. Singapore's benchmark Straits Times Index bucked the trend, falling 0.4 percent and reversing gains made on Wednesday following record first-quarter earnings posted by its top three banks. The index was weighed down by losses in Hongkong Land Holdings Ltd, which plunged 4.1 percent to its lowest in three weeks. Investors will be looking towards the U.S. April payrolls report to be released later on Friday. A Reuters survey of economists forecast employment to rise at its fastest clip in five months. Markets in Vietnam are closed for a public holiday. 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* 420.05 419.41 +0.15 Singapore 3250.12 3264.71 -0.45 Kuala Lumpur 1869.35 1871.52 -0.12 Bangkok 1420.65 1414.94 +0.40 Jakarta 4851.65 4840.15 +0.24 Manila 6738.48 6707.91 +0.46 * 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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