May 28, 2018 / 10:02 AM / 5 months ago

SE Asia Stocks-Indonesia gains for 5th straight session, Malaysia down over 1 pct

    * Indonesia shares end 1.6 pct higher ahead of cbank meeting
    * Malaysian index falls over 1 pct 
    * Vietnam shares down for 7 sessions in 9

    May 28 (Reuters) - Indonesian shares ended 1.6
percent higher on Monday, ahead of a central bank meeting where
it is expected to raise rates for the second time in two weeks,
while Malaysia fell more than 1 percent on weak corporate
results. 
    Bank Indonesia raised its benchmark interest rate
 on May 17 for the first time since November 2014 in
a bid to bolster the fragile rupiah and stem capital
outflows, with the bank saying it would take more actions to
support the currency.  
    Southeast Asia's biggest economy, alongside other emerging
markets, has seen an outflow of funds as U.S. assets become more
attractive due to rising interest rates. 
    The Indonesian index gained for a fifth straight session,
with Bank Negara Indonesia up 7.5 percent and Bank
Mandiri closing 5.4 percent higher. 
    Malaysian shares were dragged down by Malayan
Banking Bhd that closed 2 percent lower after the
country's largest lender said allowance for impaired loans and
financing in full-year 2018 were expected to be higher than the
previous year.
    Tenaga Nasional, IHH Healthcare and Sime
Darby Bhd also weighed on the index, following
disappointing earnings.
    The Vietnam index slumped 3.3 percent to close lower
for a third straight session. The benchmark index has lost 20.7
percent so far this quarter, reversing gains of around 20
percent each in the previous two quarters. 
    Petrovietnam Gas Joint Stock Corp fell nearly 7
percent, while Joint Stock Commercial Bank for Foreign Trade of
Viet Nam lost 6.4 percent. 
         
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SOUTHEAST ASIAN STOCK MARKETS: Change on day
 STOCK MARKETS                                
                    Current   Previous Close  Pct Move
 Singapore          3518.48   3513.23         0.15
 Bangkok            1734.79   1741.21         -0.37
 Manila             7642.9    7647.51         -0.06
 Jakarta            6068.325  5975.742        1.55
 Kuala Lumpur       1775.84   1797.4          -1.20
 Ho Chi Minh        931.75    963.9           -3.34
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3518.48   3402.92         3.40
 Bangkok            1734.79   1753.71         -1.08
 Manila             7642.9    8558.42         -10.70
 Jakarta            6068.325  6355.654        -4.52
 Kuala Lumpur       1775.84   1796.81         -1.17
 Ho Chi Minh        931.75    984.24          -5.33
 


 (Reporting by Nicole Pinto; Editing by Biju Dwarakanath)
  
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