May 2, 2018 / 10:27 AM / a year ago

SE Asia Stocks-Malaysia, Philippines drop 1 pct; Thailand bounces back in late trade

    * Malaysia, Philippines snap 3 sessions of gains
    * Indonesia rises for third straight session
    * Vietnam falls 2 pct, 4th session of fall in 7

    By Sumeet Gaikwad
    May 2 (Reuters) - Malaysian and Philippine
shares fell 1 percent each and snapped three straight sessions
of gains, while Thai stocks bounced back in late trade
to close more than 0.5 percent higher.
    Sentiment in Malaysia was cautious ahead of the general
elections on May 9 and as investors weighed in their strategies
at the start of a new month, said Nik Ihsan, a technical analyst
with Maybank Kim Eng Securities.
    Campaigning for the elections began on Saturday, pitting
Prime Minister Najib Razak against his former mentor Mahathir
Mohamad in a contest marred by claims of sabotage and a skewed
electoral system.    
    CIMB Group Holdings Bhd was the biggest drag,
declining 2.2 percent, while Malayan Banking dropped
1.1 percent.
    In the Philippines, financials and industrials were the top
losers. Blue chips JG Summit Holdings and Ayala Corp
 fell 5.2 percent and 3.7 percent, respectively.
    Philippine annual inflation likely moved further away from
the central bank's comfort range of 2 percent-4 percent in April
due to higher oil, electricity and rice prices, a Reuters poll
    In Thailand, energy stocks were the top performers. Oil and
gas company PTT Pcl was the biggest contributor to the
benchmark, rising 0.9 percent. 
    Oil recovered some ground after the previous day's slide,
helped by concerns about possible renewed U.S. sanctions on
major exporter Iran although price gains were capped by rising
U.S. supply.
    Among other Southeast Asian stock markets, Vietnam
dropped 2 percent, marking its fourth session of fall in seven.
    A sharp plunge in the stock market over the past two weeks
is primarily due to investors taking profits after a massive
rally and the correction will therefore be short-lived, analysts
said last week.
    Indonesian shares came off early falls to close 0.3
percent higher. Financials led the gains, with Bank Central Asia
 rising 3.6 percent. 
    Indonesia's annual inflation rate in April was nearly the
same as in March and remained within the central bank's target
range, the statistics bureau said, but was below expectations in
a Reuters poll.
    An index of the country's 45 most liquid stocks
rose 0.6 percent.
    Southeast Asian stock markets were closed on Tuesday for a
For Asian Companies click;  

 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3615.28   3613.93         0.04
 Bangkok         1791.13   1780.11         0.62
 Manila          7736.07   7819.25         -1.06
 Jakarta         6012.238  5994.595        0.29
 Kuala Lumpur    1852.03   1870.37         -0.98
 Ho Chi Minh     1029.08   1050.26         -2.02
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3615.28   3402.92         6.24
 Bangkok         1791.13   1753.71         2.13
 Manila          7736.07   8558.42         -9.61
 Jakarta         6012.238  6355.654        -5.40
 Kuala Lumpur    1852.03   1796.81         3.07
 Ho Chi Minh     1029.08   984.24          4.56
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by
Subhranshu Sahu)
Nuestros Estándares:Los principios Thomson Reuters
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