June 1, 2016 / 10:22 AM / 2 years ago

SE Asia Stocks-Soft on China factory data; Philippines up

By Justin George Varghese
    June 1 (Reuters) - Most Southeast Asian stock markets
remained subdued on Wednesday as investors were cautious after
China's manufacturing activity showed signs of steadying in May,
but remained weak amid soft demand at home and abroad.
    China's official Purchasing Managers' Index (PMI) was
unchanged from April at 50.1 last month, suggesting the world's
second-largest economy is still struggling to regain traction.
    Investors are also keenly watching for U.S. non-farm
payrolls data that is due on Friday and is expected to show the
economy created 164,000 jobs in May. 
    "Markets have been primarily driven by good Chinese PMI
index data and U.S. housing data, indicating stabilised investor
sentiment," said Grace Aller, an analyst at Manila-based AP
    U.S. single-family home prices rose more than expected in
March, a survey showed on Tuesday. 
    The Philippine index closed up 1.3 percent,
rebounding from Tuesday's 0.8 percent fall, helped by financials
and consumer cyclicals.
    "Philippine stocks rose partly due to rebalancing of MSCI at
Tuesday's close, that led some of the stocks to bounce back
today," said Joseph Roxas from Manila-based Eagle Securities.
    Shares of Manila Electric, the country's biggest
power utility, and investment holding firm SM Investment 
were among the biggest gainers.
    The Indonesian index recovered from the previous
session's losses after data on Wednesday showed the rate of
inflation eased in May to its lowest in more than 6 years,
giving the central bank room to lower lending rates.
    The gains were driven by consumer staples and financials,
with shares of Bank Central Asia Tbk PT rising 1.4
percent and those of Bank Mandiri (Persero) Tbk PT up
2.2 percent.
    Shares in Singapore and Malaysia were flat,
while Vietnam gained marginally led by financials and
basic materials.
    Asian stocks were on a weak footing on Wednesday as a slip
in crude oil prices dampened investor appetite for riskier
For Asian Companies click;  

  STOCK MARKETS                                 
  Change on                                     
  Market         Current     Previous   Pct Move
  Singapore      2790.54     2791.06    -0.02
  Bangkok        1415.76     1424.28    -0.60
  Manila         7500.79     7401.6     1.34
  Jakarta        4839.668    4796.869   0.89
  Kuala Lumpur   1626.5      1626       0.03
  Ho Chi Minh    619.86      618.44     0.23
  Change on                             
  Market         Current     End 2015   Pct Move
  Singapore      2790.54     2882.73    -3.20
  Bangkok        1415.76     1288.02    9.92
  Manila         7500.79     6952.08    7.89
  Jakarta        4839.668    4593.008   5.37
  Kuala Lumpur   1626.5      1692.51    -3.90
  Ho Chi Minh    619.86      579.03     7.05

 (Reporting by Justin George Varghese; Editing by Anupama
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