February 12, 2019 / 10:14 AM / 10 months ago

SE Asia Stocks-Most end lower, Vietnam hits near 2-month high

    * Vietnam gains over 3 pct in 2 days
    * Indonesia falls most in nearly 2 months

    By Anushka Trivedi
    Feb 12 (Reuters) - Most Southeast Asia stock markets closed
lower on Tuesday, as South China Sea tensions were seen as
casting a shadow on U.S.-China trade talk progress, while
Vietnam rallied for the second straight session to its highest
level in nearly two months.
    Washington and Beijing will commence high-level trade talks
this week to negotiate an end to their bitter trade dispute. 
    Despite positive responses from both sides, the sailing of
two U.S. destroyers near the disputed South China Sea, and
China's subsequent anger over the move appeared detrimental to
    The Indonesian index fell the most in the region,
closing 1.1 percent lower in its worst session this year,
weakened by a slump in financial and telecom stocks.
    The country's biggest bank by market value, Bank Central
Asia, shed 0.6 percent, whereas Telekom Indonesia
 lost 2.8 percent
    The Philippine benchmark slipped 0.6 percent, dragged
by consumer and industrial stocks. Meanwhile, the country's
trade deficit narrowed in December as imports tumbled for the
first time in a year.
    The stock index has outperformed other exchanges in the
region so far in 2019, gaining about 7.3 percent. 
    "We are mildly concerned about the surprise pullback in
capital goods and raw materials. If this continues, this could
show that recent aggressive tightening by the BSP (Bangko
Sentral ng Pilipinas) is starting to bite into investment
appetite, hampering the nascent investment-driven growth story
that we have witnessed of late," ING said in a note.
    Meanwhile, Vietnam benchmark rose for the second
straight session and ended up 1.2 percent at its highest level
since Dec. 17, with real estate and consumer stocks leading the
    Property developer Vingroup JSC scaled 4.9 percent,
while Saigon Beer Alcohol Beverage Corp jumped 1.9
    Vietnam was also chosen to host this month's summit between
U.S. President Donald Trump and his North Korean counterpart Kim
Jong Un.

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 STOCK MARKETS                                
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3201.15   3206.27         -0.16
 Bangkok            1642.49   1638            0.27
 Manila             8009.92   8061.54         -0.64
 Jakarta            6426.325  6495.002        -1.06
 Kuala Lumpur       1687.41   1688.56         -0.07
 Ho Chi Minh        937.54    926.1           1.24
 Change on year                               
 Market             Current   End 2018        Pct Move
 Singapore          3201.15   3068.76         4.31
 Bangkok            1642.49   1563.88         5.03
 Manila             8009.92   7466.02         7.29
 Jakarta            6426.325  6194.498        3.74
 Kuala Lumpur       1687.41   1690.58         -0.19
 Ho Chi Minh        937.54    892.54          5.04

 (Reporting by Anushka Trivedi in Bengaluru; Editing by Rashmi
Nuestros Estándares:Los principios Thomson Reuters
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