June 11, 2019 / 9:55 AM / in a year

SE Asia Stocks-Singapore gains tracking broader Asia, Malaysia slips

    * Singapore rises for the fourth straight day
    * Philippines snaps three sessions of gains 
    * Thailand gains for sixth day

    By Shreya Mariam Job
    June 11 (Reuters) - Singapore stocks gained the most in the
Southeast Asian region on Tuesday, tracking broader Asian
shares, while Malaysian shares slipped into the red dragged by
utility stocks. 
    The reprieve from the U.S. calling off tariffs on Mexico
waned after China will respond firmly if the United States
insists on escalating trade tensions, the foreign ministry said
in response to President Donald Trump's threats of further
tariffs if no deal was reached at the G20 summit.
    Meanwhile, the region's biggest trade partner, China, took
further steps to support its economy stating it will allow local
governments to use proceeds from special bonds as capital for
major investment projects, in a bid to support the slowing
economy amid an escalating trade war with the United States.

    This boosted investor sentiment sending MSCI's broadest
index of Asia-Pacific shares outside Japan 0.9%
    Singapore stocks rose to a near one-month closing
high with real estate and financial stocks boosting the index. 
    Real estate giant Capitaland Ltd rose as much as
3.3%, seeing its best session in over two months, after
announcing divestment of interests in three companies handling
malls in China for 2.96 billion Chinese yuan ($428.19 million),
through its unit and other associated companies.
    Shares of lenders Oversea-Chinese Banking Corp Ltd
and United Overseas Bank Ltd gained 0.8% and 0.6%,
    The Thai benchmark rose 0.3% to close higher for the
sixth straight day, boosted by a 1.7% rise in shares of Charoen
Pophpand Foods PCL and a 1.9% rise in shares of Gulf
Energy Development PCL .  
    The Indonesian index reversed losses to end 0.3%
higher with healthcare and consumer stocks supporting the index.
    Malaysian stocks shed 0.3% with financials and
utilities counters dragging the index. 
    Malaysia's industrial production index rose 4.0% in April
from a year earlier, faster than the previous month, higher than
the 2.7% median estimate by nine economists surveyed by Reuters.

    "We believe the BNM (Bank Negara Malaysia) will take comfort
in the latest data, which will enable them to leave policy on
hold for the rest of the year after their 25bp rate cut in May,"
an ING note said. 
    Shares of Tenaga Nasional Bhd shed 2.2%, while
Hong Leong Bank Bhd dipped 1.3%.    
    The Philippine index erased early gains to close 0.2%
lower, snapping three sessions of gains, with loses concentrated
among industrial and financial stocks.
    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.
    Shares of SM Investments Corp fell 1.7%, while Bank
of the Philippine Islands dropped 1.4%. 
For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3209.58   3188.11         0.67
 Bangkok                1670.41   1664.73         0.34
 Manila                 8030.98   8045.39         -0.18
 Jakarta                6305.992  6289.61         0.26
 Kuala Lumpur           1651.2    1655.47         -0.26
 Ho Chi Minh            962.07    962.9           -0.09
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3209.58   3068.76         4.59
 Bangkok                1670.41   1563.88         6.81
 Manila                 8030.98   7,466.02        7.57
 Jakarta                6305.992  6,194.50        1.80
 Kuala Lumpur           1651.2    1690.58         -2.33
 Ho Chi Minh            962.07    892.54          7.79
($1 = 6.9128 Chinese yuan renminbi)

 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Rashmi
Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below