May 31, 2019 / 4:44 AM / 4 months ago

SE Asia Stocks-Singapore set for biggest monthly loss in over 3 years; Indonesia rises

    * Malaysia set to post five straight gains
    * Indonesia on track for biggest monthly loss in 14 months
    * Philippines rises to over three week high

    By Shreya Mariam Job
    May 31 (Reuters) - Singapore stocks fell on Friday, and is
set for its biggest monthly loss in more than three years,
symbolising a tough month for most equity markets in the region
as U.S.-China trade tensions reignited.
    The benchmark index in Singapore slid 0.6% as investors
turned cautious of a possible slowdown in global growth.
    "Singapore is one of the most exposed countries to any
slowdown in global trade. Our gross trade is 400% of GDP," Paul
Chew Kuan Leng, head of research at Phillip Securities Research
    U.S. President Donald Trump's move to slap tariffs on Mexico
garnered fears that the United States, and maybe the whole
world, was slipping into recession.
    Adding to the worries was China's factory activity in May,
which slumped into a deeper contraction than markets'
expectations, heaping pressure on Beijing to roll out more
stimulus to support an economy hit hard by a bruising trade war
with the United States.
    Financial stocks drove losses, with the city-state's largest
lender DBS Group Holdings Ltd shedding as much as 1.3%
to hit its lowest level since Feb. 11.
    Southeast Asia's largest economy — Indonesia — shrugged off
disappointing China data and trade tension woes with its
benchmark stock index rising as much as 1.4% to hit a
more that two-week high. However, for the month the index
dropped 4.5%.
    As political uncertainty eases, DBS remains positive on
Indonesian equities boosted "by confidence placed in Bank
Indonesia (BI) and strengthening in the rupiah," as said in a
    Shares of Bank Central Asia Tbk PT gained 2.1%,
while those of and Bank Negara Indonesia Tbk PT rose
    Philippine stocks extended gains into the fourth
consecutive session, rising to a more than three-week high,
underpinned by real estate stocks and industrials. For May, the
index is set to post a 0.5% loss.
    Some analysts say Philippines may be considered an
attractive alternative for firms moving out of China to avoid
raised tariffs. 
    Ayala Land Inc and JG Summit Holdings Inc
 advanced 2.2% and 2.3%, respectively. 
    Malaysian stocks gained 0.5% and were set to post a
five-day winning streak, to aid a marginal monthly gain. Tenaga
Nasional Bhd and CIMB Group Holdings Bhd
gained 1.1% and 1.9%, respectively. 
    Thai and Vietnam stocks dipped slightly and
were set to post a monthly loss.
    Broader Asian shares, meanwhile, slid at first but soon drew
month-end bargain hunting with MSCI's broadest index of
Asia-Pacific shares outside Japan rising 0.3%. 
For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3125.21   3143            -0.57
 Bangkok                1620.24   1621.57         -0.08
 Manila                 7916.01   7836.55         1.01
 Jakarta                6160.071  6104.106        0.92
 Kuala Lumpur           1644.5    1636.5          0.49
 Ho Chi Minh            966.56    969.34          -0.29
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3125.21   3068.76         1.84
 Bangkok                1620.24   1563.88         3.60
 Manila                 7916.01   7,466.02        6.03
 Jakarta                6160.071  6,194.50        -0.56
 Kuala Lumpur           1644.5    1690.58         -2.73
 Ho Chi Minh            966.56    892.54          8.29
 (Reporting by Shreya Mariam Job in Bengaluru; editing by
Nuestros Estándares:Los principios Thomson Reuters
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