March 13, 2019 / 10:35 AM / 10 days ago

SE Asia Stocks-Most end higher after tepid trade; Singapore slips

    * Singapore sole loser, banks and real estate weigh
    * Caution ahead of China industrial output data subdues
sentiment
    * Philippines cuts GDP growth target for 2019 after bell

    By Rashmi Ashok
    March 13 (Reuters) - Most Southeast Asian stocks closed
higher in lacklustre trade on Wednesday, while Singapore slipped
as caution prevailed ahead of China's industrial output data.
    Singapore stocks were the sole losers in the region,
ending 0.5 percent lower. China's January-February industrial
output and retail sales data is due on Thursday.
    With recent gloomy economic data arising out of the world's
second-largest economy, Singapore's market appeared to grapple
with concerns about slowing global growth and trade.
    "In the end, you still go back to fundamentals, and that is
slowing trade and slowing economies. Expectations are not at a
high level for Chinese data... I think there's some cautiousness
ahead of that," said Joel Ng, an analyst at KGI Securities.
    Among top losers were lender DBS Group Holdings Ltd
 that slid 1.3 percent and food retailer Dairy Farm
International Holdings Ltd which slumped nearly 4
percent.
    Most markets in the region staged a recovery, led by
Thailand, just before the bell after trading weaker through the
session.
    Thai stocks rose 0.7 percent, with hospital operator
Bangkok Dusit Medical Services PCL gaining 0.8
percent. A rise in oil prices also helped prop up the energy-
heavy index.
    Malaysian stocks firmed 0.4 percent, with
telecommunication provider and index-heavyweight Axiata Group
Bhd rising about 4 percent and lender RHB Bank Berhad
 gaining 2.8 percent.
    Indonesian stocks, which were little changed during
mid-afternoon trade, changed track to settle 0.4 percent higher.
    Among the top gainers were household products manufacturer
Unilever Indonesia Tbk and animal feed supplier
Charoen Pokphand Indonesia Tbk, which rose 2 percent
and 5 percent, respectively.
    Vietnamese stocks added 0.4 percent. Real estate and
financial stocks largely underpinned gains. 
    Philippine stocks closed 0.2 percent higher, before
the country slashed its growth forecasts for this year and the
next. 
    Philippines cut its GDP growth target for the year 2019 to
6-7 percent, instead of 7-8 percent, citing the impact of a
delay in the approval from the legislature for the year's
budget.
    The growth target for the next year was been trimmed, to
6.5-7.5 percent, from 7-8 percent.   
    
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3195.59   3212.25         -0.52
 Bangkok                1639.67   1627.59         0.74
 Manila                 7766.15   7747.54         0.24
 Jakarta                6377.575  6353.774        0.37
 Kuala Lumpur           1678.24   1671.28         0.42
 Ho Chi Minh            1005.41   1001.32         0.41
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3195.59   3068.76         4.13
 Bangkok                1639.67   1563.88         4.85
 Manila                 7766.15   7,466.02        4.02
 Jakarta                6377.575  6,194.50        2.96
 Kuala Lumpur           1678.24   1690.58         -0.73
 Ho Chi Minh            1005.41   892.54          12.65
 


 (Reporting by Rashmi Ashok in Bengaluru; Editing by Shreejay
Sinha)
  
Nuestros Estándares:Los principios Thomson Reuters
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