May 22, 2017 / 10:11 AM / a year ago

SE Asia Stocks-Higher on oil price gains; Indonesia dips after hitting record high

    By Ambar Warrick
    May 22 (Reuters) - Southeast Asian stock markets, except
Indonesia, closed higher on Monday in line with Asian peers, and
as energy stocks climbed on rising global crude oil prices.
    Asian stocks were up 0.9 percent as of 1008
GMT following modest gains in U.S. shares on Friday.

    Oil prices rose on reports that an OPEC-led supply cut may
not only be extended into next year but might also be deepened
to tighten the market and prop up prices.
    "For one, there's a cue from the rally on the Dow Jones,"
said Manny Cruz, an analyst with Manila-based Asiasec Equities
Inc. "Apart from that, crude climbed to over $51 a barrel, which
boosted trading on energy producers."
    In Southeast Asia, Vietnam closed 1.4 percent higher,
in its best session in more than 9 years as financials and
energy stocks led gains.
    Joint Stock Commercial Bank for Investment and Development
of Vietnam closed at its highest since July 2016, while
Vietnam National Petroleum Group hit at a record high.
    Philippine stocks closed 0.5 percent higher, led by  
real estate and industrial stocks. Property developer Ayala Land
 closed up 1.9 percent, while International Container
Terminal Services ended at its highest since August
    Indonesia fell from a record intraday high to close
0.7 percent lower, as consumer staples and financial stocks took
a hit.
    "Locals are profit-taking," said Harry Su, head of research
at Jakarta-based Bahana Securities.
    "I think they're still concerned about business performances
in May, particularly as the political situation here is still
weighing on the overall sentiment."
    Jakarta's Christian governor was sentenced to two years in
jail for blasphemy earlier this month, sparking a slew of
protests across the city.
    Unilever Indonesia Tbk PT closed at a more than 
one-week low, while Bank Mandiri (Persero) Tbk PT
ended 2.9 pct lower. 

For Asian Companies click;  

  Change on day                                        
  Market           Current       previous     Pct Move
  Singapore        3213.57       3216.92      -0.10
  Bangkok          1557.43       1549.64      0.50
  Manila           7806.57       7767.62      0.50
  Jakarta          5749.445      5791.884     -0.73
  Kuala Lumpur     1774.95       1768.28      0.38
  Ho Chi Minh      744.1         733.82       1.40
  Change so far                               
 this year                                    
  Market           Current       End prev yr  Pct Move
  Singapore        3213.57       2880.76      11.55
  Bangkok          1557.43       1542.94      0.94
  Manila           7806.57       6840.64      13.19 
  Jakarta          5749.445      5296.711     8.55
  Kuala Lumpur     1774.95       1641.73      8.11
  Ho Chi Minh      744.1         664.87       11.25

 (Reporting by Ambar Warrick in Bengaluru; Editing by Biju
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