May 31, 2019 / 10:29 AM / a year ago

SE Asia Stocks-Singapore posts biggest monthly loss in over 3 years, Philippines sole gainer

    * Indonesian stocks post biggest monthly loss in 14 months
    * Malaysia posts five day winning streak

    By Shreya Mariam Job
    May 31 (Reuters) - Singapore stocks posted their biggest
monthly loss in more than three years in May, as the escalating
Sino-U.S. trade war hampered investor sentiment, while an
upgrade in credit rating pushed Indonesian shares higher on
    The FTSE Straits Times Index fell 0.8%, bringing its
monthly loss to 8.3%, as slowing global growth concerns hit risk
    "Singapore is one of the most exposed countries to any
slowdown in global trade. Our gross trade is 400% of the GDP,"
said Paul Chew, head of research at Singapore-based Phillip
Securities Research.
    Financial stocks dragged the index, with DBS Group Holdings
Ltd shedding 1.3%. 
    Indonesian stocks jumped 1.7% to post its highest
close since May 10. The index closed the week with a gain of
2.5%, but slipped 3.8% during the month, its lowest in 14
    Ratings agency S&P raised Indonesia's sovereign credit
rating to 'BBB', citing the country's strong economic growth
prospects and supportive policy dynamics. The upgrade put S&P at
par with the ratings awarded by two other major credit rating
agencies, Fitch and Moody's
    Shares of Telekomunikasi Indonesia Tbk Pt and
Astra International Tbk Pt rose 3.2% and 3.5%,
    In Philippines, last minute buying helped push the
benchmark to its highest level since early-May. The index was
the only one in the region that posted a monthly gain.
    Real estate and industrial stocks bolstered the index, with
Ayala Land Inc firming 2.7%, while conglomerate SM
Prime Holdings Inc rose 2.1%. 
    Some analysts say Philippines stands to gain from trade war
as firms looking to avoid hiked tariffs will look to establish
units there. 
    Malaysian stocks pared most of its gains during the
session, but managed to maintain a five-day winning streak.
However, the shares declined 0.2% for May. 
    Shares of Sime Darby Plantation Bhd advanced 2.2%
after posting its first quarter results, while state utility
firm Tenaga Nasional Bhd gained 2.4%. 
    Meanwhile, Thai stocks marginally, hurt by largely
industrial stocks. For the month, the SET Index fell 3.4%.
    Thailand's April exports fell 2.9% from a year earlier,
after falling 4.2% in March, while April imports dropped 0.4%
from a year earlier.
    Utility and financial stocks dragged the Vietnam index
 1% lower with Petrovietnam Gas JSC and Vietnam
Dairy Products JSC declining 3.5% and 1.5%,
For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3117.76   3143            -0.80
 Bangkok                1620.22   1621.57         -0.08
 Manila                 7970.02   7836.55         1.70
 Jakarta                6209.117  6104.106        1.72
 Kuala Lumpur           1650.76   1636.5          0.87
 Ho Chi Minh            959.88    969.34          -0.98
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3117.76   3068.76         1.60
 Bangkok                1620.22   1563.88         3.60
 Manila                 7970.02   7,466.02        6.75
 Jakarta                6209.117  6,194.50        0.24
 Kuala Lumpur           1650.76   1690.58         -2.36
 Ho Chi Minh            959.88    892.54          7.54
 (Reporting by Shreya Mariam Job in Bengaluru; editing by
Nuestros Estándares:Los principios Thomson Reuters
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