May 28, 2019 / 4:39 AM / a year ago

SE Asia Stocks-Thai gains after strong factory data, Singapore stocks drop

    * Thai April manufacturing output rises
    * Sino-U.S. trade tensions weigh
    * Indonesia set to snap three sessions of gains

    By Shreya Mariam Job
    May 28 (Reuters) - Thai stocks rose on Tuesday and were one
of the top gainers in the Southeast Asian pack after its April
factory output reported a surprise jump, while Singapore shares
fell, dragged by financials. 
    Thailand's SET Index gained as much as 0.5% after
its manufacturing production index (MPI) in April rose 2.03%
from a year earlier, led by higher production of cars and air
conditioners compared to a forecast fall of 1.0% in a Reuters
    Shares of PTT PCL and PTT Global Chemical PCL
 firmed 1.1% and 4.1%, respectively.
    Philippine and Malaysian stocks gained 0.3%
and 0.5%, respectively.         
    Meanwhile, continuing trade tension between the U.S. and
China kept investors in most other regional markets on the
    "Market players continue to tread water and await further
cues on the trade front as President Trump downplays the
likelihood of a deal with China anytime soon," a note from ING
    U.S. President Donald Trump told at a news conference that
Washington was not ready to make a deal with Beijing, but he
expected one in the future.
    However, China's chief financial regulator on Monday said
that a trade war with the United States has had a limited impact
on China's financial markets and its effects will be "even
smaller" in the future, slightly offseting growing concerns with
regard to the escalating trade war.
    Singapore stocks fell 0.2%, with financials dragging
the index. 
    Shares of DBS Group Holdings Ltd dropped as much
as 1% to a more-than-two-month low, while United Overseas Bank
Ltd slid as much as 1.1%.
    Financial stocks also dragged the Indonesian benchmark stock
index marginally lower, on track to snap three
consecutive sessions of gains, with Bank Negara Indonesia Tbk Pt
 and Bank Mandiri Tbk Pt shedding 3.5% and
1.3%, respectively. 
    Vietnam shares too were dragged by financials and
consumer staples. 

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 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3164.56   3170.77         -0.20
 Bangkok                1628.76   1624.84         0.24
 Manila                 7747.66   7725.01         0.29
 Jakarta                6086.396  6098.974        -0.21
 Kuala Lumpur           1609.2    1601.35         0.49
 Ho Chi Minh            971.56    975.14          -0.37
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3164.56   3068.76         3.12
 Bangkok                1628.76   1563.88         4.15
 Manila                 7747.66   7,466.02        3.77
 Jakarta                6086.396  6,194.50        -1.75
 Kuala Lumpur           1609.2    1690.58         -4.81
 Ho Chi Minh            971.56    892.54          8.85
 (Reporting by Shreya Mariam Job in Bengaluru; editing by
Nuestros Estándares:Los principios Thomson Reuters
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