SE Asia Stocks-Philippines rises on likely Duterte win; Thai, S'pore down
May 10 (Reuters) - Southeast Asian stocks were trading mostly flat to lower on Tuesday, tracking regional markets, but the Philippine index reversed course to inch up after maverick mayor Rodrigo Duterte looked certain to become the country's next president. The Philippine stock index was up 0.5 percent at 0340 GMT, after earlier falling as much as 0.7 percent. In Manila, a rolling ballot count by a Philippine election commission-accredited watchdog showed Duterte had about 39 percent of votes cast. "We think the market will remain volatile - it will take time to understand the broader impact on the economy from Mr. Duterte's win," Morgan Stanley said in a note to clients. Asian markets were at two-month lows as weak oil prices weighed on sentiment, with the MSCI's broadest index of Asia-Pacific shares outside Japan down 0.1 percent. Oil prices tumbled more than 3 percent on Monday, but were steady on Tuesday as brimming inventories and a looming refined products glut offset supply disruptions in Canada and elsewhere. The Thai SET index was down 0.4 percent led by energy stocks, with PTT PCL and PTT Exploration falling more than 2 percent. Singapore was down 0.1 percent after earlier falling as much as 1 percent ahead of the release of Chinese inflation data for April. China's consumer prices rose slightly less than expected in April, while a four-year slump in producer prices continued to show signs of moderating, easing strains on companies facing sluggish demand and high debt levels. Golden Agri-Resources fell more than 2.6 percent, while Wilmar International was trading down 2 percent. For Asian Companies click; STOCK MARKETS Change on the day Market Current prev close Pct Move Singapore 2760.84 2766.06 -0.19 Bangkok 1388.47 1394.14 -0.41 Manila 7026.32 6991.87 0.49 Jakarta 4753.407 4749.315 0.09 Kuala Lumpur 1633.44 1632.19 0.08 Ho Chi Minh 599.76 603.85 -0.68 Change so far this year Market Current End prev yr Pct Move Singapore 2760.84 2882.73 -4.23 Bangkok 1388.47 1288.02 7.80 Manila 7026.32 6952.08 1.07 Jakarta 4753.407 4593.008 3.49 Kuala Lumpur 1633.44 1692.51 -3.49 Ho Chi Minh 599.76 579.03 3.58 (Reporting by Renju Jose in Bengaluru; Editing by Biju Dwarakanath)
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