March 6, 2019 / 10:05 AM / 18 days ago

SE Asia Stocks-Philippine stocks rise 2 pct, most others lacklustre

    * Singapore falls for 2nd session in three
    * Indonesia snaps two sessions of losses  

    By Shriya Ramakrishnan
    March 6 (Reuters) - Philippine shares jumped 2 percent on
Wednesday, led by real estate and consumer stocks, while most
other Southeast Asian markets were subdued as continued
uncertainty over a U.S.-China trade deal dampened risk appetite.
    The Philippine benchmark stock index, which was
Southeast Asia's worst performer last month, gained the most
among regional markets as a selloff last week made valuations
more attractive.
    Foreign investors bought net 273 million pesos ($5.23
million) in equities on Wednesday, exchange data shows.  
    SM Prime Holdings, the country's second-largest
firm by market value, advanced 3.6 percent, while real estate
conglomerate Ayala Land Inc gained 2.3 percent.
    Thai stocks fell 0.8 percent, with all sectors
except energy in the negative territory.
    The country's constitutional court will give its ruling on
March 7 whether to ban an opposition party for nominating a
princess as its candidate for prime minister in a general
election. 
    The Election Commission had asked the court to dissolve the
Thai Raksa Chart party after it nominated Princess Ubolratana
Rajakanya Sirivadhana Barnavadi for prime minister in the March
24 election, the first since a 2014 military coup.
    "Tomorrow's ruling will be worth closely monitoring as it
may trigger a start of heightened political risks that could
derail the Thai economy," OCBC Bank said in a note.
    Singapore stocks closed lower for a second session in
three, dragged by industrial and consumer stocks. 
    Index heavyweight Jardine Matheson Holdings Ltd
dipped 2.1 percent, while food retailer Dairy Farm International
Holdings Ltd weakened 4 percent.     
    Meanwhile, Indonesian shares snapped two consecutive
sessions of losses, helped by consumer and financial stocks.
    Clove cigarette maker Gudang Garam Tbk PT rose 2.1
percent, while lender PT Bank Mayapada Internasional Tbk
 added 11.4 percent. 
            
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SOUTHEAST ASIAN STOCK MARKETS 
   
 Market                 Current   Previous close  Pct Move
 Singapore              3222.84   3234.07         -0.35
 Bangkok                1625.51   1639            -0.82
 Manila                 7821.34   7670.62         1.96
 Jakarta                6457.956  6441.28         0.26
 Kuala Lumpur           1686.82   1685.62         0.07
 Ho Chi Minh            994.49    992.45          0.21
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3222.84   3068.76         5.02
 Bangkok                1625.51   1563.88         3.94
 Manila                 7821.34   7,466.02        4.76
 Jakarta                6457.956  6,194.50        4.25
 Kuala Lumpur           1686.82   1690.58         -0.22
 Ho Chi Minh            994.49    892.54          11.42
 
($1 = 52.1900 Philippine pesos)

 (Reporting by Shriya Ramakrishnan in Bengaluru, Additional
reporting by Gaurav Dogra; Editing by Subhranshu Sahu)
  
Nuestros Estándares:Los principios Thomson Reuters
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