SE Asia Stocks-Manila at 11-month high; Jakarta edges up amid political uncertainty
May 13 (Reuters) - Philippine shares closed at their highest in 11 months on Tuesday, while Indonesia rose slightly amid political and economic uncertainty ahead of the presidential polls. Half of the southeast Asian markets were closed for a holiday. The Philippine index rose 0.6 percent to its highest close since June 10, 2013, while the Jakarta Composite Index edged up 0.2 percent after touching its highest intraday level since June 7. Investors were cautious ahead of the Indonesian presidential polls scheduled on July 9, said John Teja, director of Jakarta-based broker Ciptadana Securities. "I think there's a lot of uncertainty as parties negotiate to form coalitions for president and vice-president this week," Teja said in an emailed statement. Weak real GDP growth and adjustment to energy prices are an overhang on the inflation outlook. Foreigners are staying on the sidelines and may bring short-term market correction, Teja said. In Manila, shares of Bloomberry Resorts Corp gained 1.9 percent after Philippine property developer Ayala Land Inc said it had partnered with Bloomberry to operate a mall at the latter's $1.2 billion Solaire complex, Manila's newest gaming hub, to be opened later this year. Globe Telecom Inc, the Philippines' second biggest telecommunications firm, rose 0.8 percent after its net profit more than quadrupled in the March quarter. However, stocks in Vietnam fell with the benchmark VN Index closing at a four-month low. Stock markets in Thailand, Malaysia, and Singapore were closed for a holiday on Tuesday. 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* 417.48 417.52 -0.01 Jakarta 4921.39 4913.00 +0.17 Manila 6852.81 6811.34 +0.61 Ho Chi Minh 513.91 517.05 -0.61 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 417.48 388.37 +7.50 Singapore 3222.43 3167.43 +1.74 Kuala Lumpur 1866.08 1866.96 -0.05 Bangkok 1375.14 1298.71 +5.89 Jakarta 4921.39 4274.18 +15.14 Manila 6852.81 5889.83 +16.31 Ho Chi Minh 513.91 504.63 +1.84 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. ($1 = 11521.0000 Indonesian Rupiahs) (Reporting by Shihar Aneez; Editing by Prateek Chatterjee)
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