July 4, 2019 / 10:33 AM / 20 days ago

SE Asia Stocks-Most mark tepid trade; Vietnam closes at 5-week high

    * Thailand falls on profit-taking after recent gains in
energy,
utility sectors
    * Malaysia May exports grow 2.5%, below Reuters forecast
    * Vietnam gains most in region, closes 1.3% firmer

    By Rashmi Ashok
    July 4 (Reuters) - Most Southeast Asian stock markets posted
lacklustre performances on Thursday as weak economic data in the
United States heightened concerns of a global economic slowdown,
while Vietnam shares closed at a five-week high on real estate
boost.
    Data showed that the U.S. trade deficit jumped in May and
Sino-U.S. trade tensions helped drive activity in the services
sector to a two-year low in June, while private employers added
fewer-than-expected jobs to their payrolls.
    Thai shares, the biggest laggards in the region,
shed early gains to drop 0.8% towards close.
    "It should be profit-taking in the power sector," said
Saharat Chudsuwan, Head of Marketing &​ Wealth Advisory for
Mutual &​ Private Funds at Tisco Asset Management Co, Ltd.
    Shares in utility companies Energy Absolute PCL
slumped 2.7%, while Banpu Power PCL shed 4.8%. 
    Investors locked in profits after the index saw solid gains
last month - its best monthly gain since September 2013. The
bourse rose about 11% so far this year, leading the gains in the
region. 
    Malaysian stocks ended lower after data showed the
country's exports grew 2.5% in May from a year earlier, but
below the 3.6% expansion forecast by economists in a Reuters
poll.
    However, the export growth was better than a consensus
median of 2.2%, with a strong performance from electronics,
chemicals and machinery exports, said Prakash Sakpal, economist
for Asia at ING, in a note.
    Malaysia's electronics and electrical exports "represent a
significant outperformance in the face of the ongoing
electronics export weakness observed elsewhere in the region
reflecting the global tech slump," ING's note read.
    Bucking the trend, Vietnamese stocks ended up 1.3% at
their highest close since May 27. Joint Stock Commercial Bank
for Foreign Trade of Vietnam closed 4.2% firmer, while
Vinhomes JSC ended up 3.7%.
    Indonesian stocks ended firmer, with top boost Adaro
Energy Tbk closing 4.4% higher.
    Singapore's index rebounded to end a tick higher
after two tepid sessions. 
     
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3372.25   3367.8           0.13
 Bangkok                1724.37   1738.51         -0.81
 Manila                 8064.92   8092.68         -0.34
 Jakarta                6375.967  6362.622         0.21
 Kuala Lumpur           1687.48   1690.05         -0.15
 Ho Chi Minh            973.04    960.39           1.32
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3372.25   3068.76         9.89
 Bangkok                1724.37   1563.88         10.26
 Manila                 8064.92   7,466.02        8.02
 Jakarta                6375.967  6,194.50        2.93
 Kuala Lumpur           1687.48   1690.58         -0.18
 Ho Chi Minh            973.04    892.54          9.02
 
 (Reporting by Rashmi Ashok in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
Nuestros Estándares:Los principios Thomson Reuters
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