June 24, 2019 / 10:01 AM / 24 days ago

SE Asia Stocks-Indonesia falls most on high oil prices, trade-talk woes

    By Shreya Mariam Job
    June 24 (Reuters) - Indonesia led declines among Southeast
Asian stock markets on Monday, as investors were wary due to
rising oil prices and uncertainties ahead of fresh round of
Sino-U.S. trade talks, while Vietnam rose buoyed by financial
and real estate stocks. 
    Oil prices rose on Monday, extending vast gains last week
prompted by tensions between Iran and the United States, as
Washington was set to announce new sanctions on Tehran.
    On the other hand, investors are hoping for signs of a thaw
in the prolonged trade war with the leaders of U.S. and China
expected to meet at this week's G20 summit in Japan.
     
    Indonesian stocks dropped 0.4% leading declines in
the region with telecom and material stocks dragging the index.
    Shares of Telekomunikasi Indonesia shed 1.5%,
while Unilever Indonesia Tbk Pt shed 1.4%.
    The country's foreign trade surprisingly swung back to a
surplus in May, against market expectations of a $1.38 billion
deficit.
    However, oil and gas deficit was still rather elevated in
May, according to an OCBC note.    
    "In our view, we see that this May trade surplus does help
to further strengthen the opportunity for Bank Indonesia (BI) to
cut the benchmark rate soon in 3Q 2019 possibly by 25bps," the
note added.     
    Singapore's benchmark stock index dropped 0.3%
dragged by industrials and financials. 
    Singapore's all-items inflation picked up slightly in May
and was higher than expected due to increased transport costs,
data showed on Monday.
    Investors snapped up profits among financial stocks with
United Overseas Bank Ltd shedding 1.8% and snapping 11
straight sessions of gains, and shares of Oversea-Chinese
Banking Corp Ltd losing 0.6% after six consecutive
sessions of gains.
    Meanwhile, Jardine Matheson Holdings Ltd shed
0.6%.
    Telecom stocks dragged the Malaysian benchmark 0.4%
lower with Axiata group Bhd and Maxis Bhd
shedding 1.2% and 1%, respectively. 
    Meanwhile, Vietnam's index rose 0.4% with gains
concentrated among financial and real estate stocks. 
    Joint Stock Commercial bank for foreign trade of Viet Nam
 gained 2.8%, while Vingroup JSC rose 1.7%. 
    Thai and Philippine indexes traded relatively
flat. 
    Thailand's annual manufacturing output in May probably eased
slightly after unexpectedly rising in the previous month, a
Reuters poll showed with data expected to be released on
Tuesday.
    
    

    
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SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3311.53   3321.4          -0.30
 Bangkok                1716      1717.14         -0.07
 Manila                 8060.58   8055.47         0.06
 Jakarta                6288.465  6315.436        -0.43
 Kuala Lumpur           1676.13   1682.23         -0.36
 Ho Chi Minh            962.85    959.2           0.38
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3311.53   3068.76         7.91
 Bangkok                1716      1563.88         9.73
 Manila                 8060.58   7,466.02        7.96
 Jakarta                6288.465  6,194.50        1.52
 Kuala Lumpur           1676.13   1690.58         -0.85
 Ho Chi Minh            962.85    892.54          7.88
 

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