June 6, 2017 / 10:41 AM / a year ago

SE Asia Stocks-Malaysia posts 2-yr closing high; Philippines down

    By Chris Thomas
    June 6 (Reuters) - Philippine shares fell on Tuesday,
dragged down by losses in index heavyweights SM Investments Corp
 and SM Prime Holdings, while Malaysian shares
 extended gains into a third session to close at a
two-year high.
    Broader Asian markets were subdued as escalating tensions in
the Middle East, the impending testimony of the former FBI
director, British elections and a European Central Bank meeting
weighed on investor sentiment.
    In the Philippines, financials and industrials were the main
losers. SM Investments dropped 1.2 percent, while SM Prime
Holdings declined 1 percent. 
    "We expect investors to cash in their gains now in
anticipation of (a likely) Fed interest rate hike next week,"
said Rachelle Cruz, an analyst with AP Securities.
    The Philippines' annual inflation eased to its slowest pace
in four months in May, reflecting slower price increases for
eight commodity groups, data showed.
    Meanwhile, Malaysian shares closed at their highest since
May 2015, with electricity company Tenaga Nasional Bhd
gaining 2.8 percent.
    Indonesian shares ended 0.7 percent lower, dragged
down by financial and consumer stocks. 
    Bank Rakyat Indonesia fell 2.3 percent while
conglomerate Astra International dropped 1.4 percent.
    An index of the country's 45 most liquid stocks
dropped 0.8 percent.
    Vietnam shares climbed 1.1 percent, posting their
highest close since February 2008, with financials leading the
    Vietcombank and Bank for Investment and Development
of Vietnam rose over 3.7 percent each.   
For Asian Companies click;  
  Market          Current      Previous Close  Pct Move
  Singapore       3235.75      3238.31         -0.08
  Bangkok         1568.95      1566.85         0.13
  Manila          7953.12      8001.38         -0.60
  Jakarta         5707.831     5748.235        -0.70
  Kuala Lumpur    1791.01      1787.95         0.17
  Ho Chi Minh     751.31       743.49          1.05
  Change on year                               
  Market          Current      End 2016        Pct Move
  Singapore       3235.75      2880.76         12.32
  Bangkok         1568.95      1542.94         1.69
  Manila          7953.12      6840.64         16.26
  Jakarta         5707.831     5296.711        7.76
  Kuala Lumpur    1791.01      1641.73         9.09
  Ho Chi Minh     751.31       664.87          13.00
 (Reporting by Chris Thomas; Editing by Subhranshu Sahu)
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