June 11, 2019 / 4:14 AM / 2 months ago

SE Asia Stocks-Singapore rises tracking broader Asia

    * Philippines on track for fourth straight gain
    * Singapore real estate co CapitaLand surges 
    * Malaysia April factory output beats forecast

    By Shreya Mariam Job
    June 11 (Reuters) - Singapore stocks rose on Tuesday, taking
cues from broader Asian markets, while Indonesia slipped from a
more than one-month high hit in the previous session with
consumer stocks weighing on the index.
    Optimism following the U.S.-Mexico trade and migration deal
was dampened by U.S. President Donald Trump's threats to impose
another round of punitive tariffs on Chinese imports if he
cannot make progress in trade talks with Chinese President Xi
Jinping at a Group of 20 summit later this month.
    Meanwhile, Southeast Asia's biggest trade partner, China,
said on Monday it would allow local governments to use proceeds
from special bonds as capital for major investment projects,
sending the Shanghai Composite index 1.9% higher.

    Singapore stocks extended gains into a fourth session
on the back of real estate stocks. 
    CapitaLand Ltd climbed as much as 3% in its
biggest intraday gain in more than two months, after the real
estate company said its unit and associated companies would
divest their interests in three companies that hold three malls
in China for an agreed value of 2.96 billion Chinese yuan
($427.90 million).
    Philippine shares gained 0.5%, boosted by real estate
and industrial stocks, and were headed for a fourth consecutive
session of gains. 
    The country's April exports increased 0.4% from a year
earlier, while imports dipped 1.9%, bringing the trade deficit
to $3.50 billion.
    Ayala Land Inc and SM Prime Holdings
gained 0.6% and 1%, respectively.      
    Meanwhile, Indonesian shares dipped 0.2% after
posting their biggest intraday percentage gain in over two years
on Monday.
    Consumer stocks were among the top losers with Astra
International Tbk Pt and Unilever Indonesia Tbk Pt
 shedding 2.6% and 1%, respectively. 
    Malaysian stocks edged lower, dragged by financials.
    Data released earlier showed that Malaysia's industrial
production index rose 4.0% in April from a year earlier, faster
than the previous month.
    April's annual output growth was higher than the 2.7% median
estimate by nine economists surveyed by Reuters. The pace was
faster than March's growth of 3.1%.
    Fitch Ratings said in a report that while it expected
Malaysian household debt risks to continue to moderate, pockets
of vulnerability remained in banks' exposure to lower-income
households and personal loans.
    Hong Leong Bank Bhd dropped as much as 1.7%, while
Malayan Banking Bhd slipped as much as 0.7%.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS As at 0410 GMT
    
 Market                 Current   Previous close  Pct Move
 Singapore              3201.44   3188.11         0.42
 Bangkok                1666.19   1664.73         0.09
 Manila                 8088.12   8045.39         0.53
 Jakarta                6278.919  6289.61         -0.17
 Kuala Lumpur           1651.79   1655.47         -0.22
 Ho Chi Minh            961.59    962.9           -0.14
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3201.44   3068.76         4.32
 Bangkok                1666.19   1563.88         6.54
 Manila                 8088.12   7,466.02        8.33
 Jakarta                6278.919  6,194.50        1.36
 Kuala Lumpur           1651.79   1690.58         -2.29
 Ho Chi Minh            961.59    892.54          7.74
 
($1 = 6.9175 Chinese yuan)

 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)
  
Nuestros Estándares:Los principios Thomson Reuters
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