May 9, 2016 / 5:16 AM / 2 years ago

CORRECTED-SE Asia Stocks-Singapore shares snap 10-day losing streak, Indonesia down

(Corrects spelling of index name in third paragraph)
    May 9 (Reuters) - Singapore shares rose on Monday, snapping
a 10-session losing streak, helped by a rally in U.S. stocks
late last week, while most other Southeast Asian markets
suffered losses.
    U.S. stocks bounced back on Friday from early losses to
close higher as investors viewed the day's jobs data as less
disappointing than first thought. 
    Singapore's Straits Times Index rose slightly in
early trading, after ending down 1.3 percent at its lowest close
since March 2, Thomson Reuters data showed. It fell for the
tenth straight session on Friday, its longest falling streak
since August-September 2002, data showed.
    "Singapore stock market opened higher as positive sentiments
spilled over from the positive U.S. close last Friday," said
Hong Wei Wong, an analyst at KGI Frasers Securities.
    "However, investors may take the opportunity to sell into
rallies due to the weak economic outlook ahead." 
    Shares of Singapore oil-rig firm Keppel Corp rose
as much as 1.9 percent, while Sembcorp Marine rose 2.2
    Indonesian shares fell as much as much as 1.2 percent, led
by consumer non-cyclicals, while Malaysia's FTSE Bursa Malaysia
KLCI Index fell as basic materials stocks lost ground.
    Indonesian natural gas distributor PT Perusahaan Gas
Negara's shares fell as much as 2.8 percent.
    The Philippine market remained closed for Presidential
elections for which Rodrigo Duterte, mayor of the southern city
of Davao, has emerged as the front runner. 
    The Philippine Stock Exchange fell 2.3 percent last
    "There is increasing jitters over the upcoming presidential
elections as the economic policies of the current front runner -
Rodrigo Duterte - remain unknown," Maybank said in a note to
    "Our study showed that there is a tendency for equities to
be sold-off in the lead-up to the elections and for at least
another six months after the elections as a result of the
uncertainty surrounding the policies of the incoming
For Asian Companies click;  

  Change on day                                        
  Market           Current       Prev Close   Pct Move
  Singapore        2741.78       2730.8       0.40
  Bangkok          1388.58       1390.7       -0.15
  Jakarta          4774.415      4822.595     -1.00
  Kuala Lumpur     1642.95       1649.36      -0.39
  Ho Chi Minh      609.81        606.52       0.54
 Change on year                               
  Market           Current       End 2015     Pct Move
  Singapore        2742.74       2882.73      -4.86
  Bangkok          1387.97       1288.02      7.76
  Manila           6991.87       6952.08      0.57
  Jakarta          4774.344      4593.008     3.95
  Kuala Lumpur     1642.82       1692.51      -2.94
  Ho Chi Minh      609.81        579.03       5.32
 (Reporting by Rushil Dutta in Bengaluru; Editing by Anupama
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