February 19, 2019 / 9:43 AM / 3 months ago

SE Asia Stocks-Most in red; Philippines worst hit as real estate, financials drag

    * Philippines hits over 1-month low
    * Malaysia rises to 3-month closing high
    * Vietnam posts sixth session of gains in seven

    By Shreya Mariam Job
    Feb 19 (Reuters) - Philippine stocks fell the most on
Tuesday dragged by losses in the real estate and financial
stocks, as most of the Southeast Asian equity markets ended
lower, while Malaysia gained as investors took positions amid
the earnings season.
    The Philippine index dropped about 1 percent to its
lowest level since Jan. 8, dragged by losses in real estate and
financial stocks.
    "The Philippine market right now is in search of a new
catalyst and with none in sight, some investors are already
choosing to take profit," said Rachelle Cruz, an analyst with AP
Securities. 
    BDO Unibank Inc shed 3.2 percent, while Ayala Land
Inc dropped 3.7 percent to close at its lowest level
since Jan. 3. 
    "Ayala Corp has $293 million worth of bonds that are
exchangeable to shares of ALI and that will mature by that time
(in May). Some investors may look to cash in, exerting a
downward pressure on ALI's share price," a note from RCBC
securities said.    
    Meanwhile, the Malaysian index gained 0.8 percent to
a three-month closing high on the back of materials and
utilities. Petronas Chemicals Group Bhd rose 3.9
percent ahead of its fourth quarter result announcement. 
    Shares of Kuala Lumpur Kepong Bhd strengthened
more than one percent, after posting a jump in quarterly net
profit. 
    Real estate stocks drove the Vietnam index marginally
higher, with Vinhomes JSC and Vingroup JSC
rising 6.1 percent and 2 percent, respectively.
    Singapore and Indonesia indexes traded
relatively lower, while the Thai market was closed for a
holiday.      

 
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3259.8    3265.97         -0.19
 Manila                 7833.75   7910.58         -0.97
 Jakarta                6494.667  6497.815        -0.05
 Kuala Lumpur           1706.56   1692.74         0.82
 Ho Chi Minh            964.35    961.3           0.32
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3259.8    3068.76         6.23
 Manila                 7833.75   7,466.02        4.93
 Jakarta                6494.667  6,194.50        4.85
 Kuala Lumpur           1706.56   1690.58         0.95
 Ho Chi Minh            964.35    892.54          8.05
 

 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Rashmi
Aich)
  
Nuestros Estándares:Los principios Thomson Reuters
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