May 27, 2019 / 9:58 AM / 5 months ago

SE Asia Stocks-Most rise amid trade worries; Philippines slips

    May 27 (Reuters) - Most Southeast Asian stock markets closed
higher on Monday with Indonesia rising to a two-week high amid
easing political worries, but investors remained attentive to
developments in  the U.S.-China tariff war.
    With no leads from Wall Street due to a public holiday,
trading volumes across the six markets were below their 30-day
averages as investors awaited any new trade-related commentary. 
    U.S. President Donald Trump is on a four-day trip to Japan,
where he called on his Japanese counterpart to even out a trade
imbalance.
    "With Trump in the far east, dealers await cues on trade
war," ING wrote in a note.  
    Indonesian shares closed 0.7% higher, extending
gains into a third session. Bank Central Asia TBK PT
was the biggest boost with a gain of 1.3%. 
    After clashes broke out in the capital city of Jakarta last
week following protests against the victory of President Joko
Widodo in last month's election, authorities over the week
removed temporary social media restrictions.
    Thai shares advanced 0.7% as a pro-army party hopes
to seal a deal on Monday to end opposition hopes of keeping the
military out of politics.
    Energy stocks accounted for most of the gains with
heavyweight PTT Pcl rising 1.1%. 
    Philippine shares closed 0.3% lower, dragged by
telecom heavyweight PLDT Inc, which fell 5%. 
    Singapore shares closed flat after declining 0.4% in
intraday trade, but still hovered near two-month lows. 
    The city-state remained on track for its worst monthly drop
since October last year.
    Falls in Hutchison Port Holdings Trust were partly
offset by gains in Jardine Strategic Holdings. 
    Malaysian shares closed 0.2% higher, while Vietnam
stocks rose 0.5%. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3170.77   3169.89         0.03
 Bangkok                1624.84   1614.12         0.66
 Manila                 7725.01   7747.09         -0.29
 Jakarta                6098.974  6057.353        0.69
 Kuala Lumpur           1601.35   1598.32         0.19
 Ho Chi Minh            975.14    970.03          0.53
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3170.77   3068.76         3.32
 Bangkok                1624.84   1563.88         3.90
 Manila                 7725.01   7,466.02        3.47
 Jakarta                6098.974  6,194.50        -1.54
 Kuala Lumpur           1601.35   1690.58         -5.28
 Ho Chi Minh            975.14    892.54          9.25
 
 (Reporting by Nikhil Kurian Nainan; Editing by Subhranshu Sahu)
  
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