April 5, 2017 / 10:18 AM / 10 months ago

SE Asia Stocks-Slightly down; all eyes on Trump-Xi meeting

    By Ambar Warrick
    April 5 (Reuters) - Southeast Asian stock markets, barring
the Philippines and Indonesia, ended slightly
lower on Wednesday as investors awaited a crucial meeting
between U.S. President Donald Trump and his Chinese counterpart
Xi Jinping.
    China's Foreign Ministry said President Xi Jinping would
travel to the United States to meet President Donald Trump at
his Mar-a-Lago retreat in Florida on April 6-7.
    The Philippine index extended gains into a third session to
close at an over 5-month high, ending up 1.9 percent. 
    "Our central bank sees no reason to raise interest rates any
time soon," said Joseph Roxas, President at Manila-based Eagle
Equities. "Trump policies in America don't seem to be affecting
the BPO business here either."
    "Basically, we have all the fundamentals (in place)."
     Financials and real estate stocks led the gains, with BDO
Unibank and real estate conglomerate Ayala Land Inc
 closing at two-week highs. Also among the top gainers
was property developer SM Investments, which pushed the
index up about 32.7 points while ending at a record high.
    "Wilcon Depot was listed last week after its 7
billion peso IPO, which released a lot of money into the
market," Roxas added.
    Indonesia hit at an all-time high for a third consecutive
session, led by materials and financials. The index gained 0.45
percent during the day.
    Bank Central Asia and Chandra Asri Petrochemical
 closed at record highs.
    The index of the region's 45 most liquid stocks
was at a 6-month high.
    Other markets in the region fell marginally.
    Asian stocks edged up on Wednesday, helped by a bounce in
Chinese shares, though investors held off from making big bets
as sentiment remained cautious.
For Asian Companies click;  

  Market           Current       previous     Pct Move
  Singapore        3176.55       3179.06      -0.08
  Bangkok          1582.12       1583.82      -0.11
  Manila           7584.21       7446.49      1.85
  Jakarta          5676.98       5651.823     0.45
  Kuala Lumpur     1744.67       1747.19      -0.14
 Ho Chi Minh       723.22        724.14       -0.13
  Change so far                               
 this year                                    
  Market           Current       End 2016     Pct Move
  Singapore        3176.55       2880.76      10.27
  Bangkok          1582.12       1542.94      2.54
  Manila           7584.21       6840.64      10.87
  Jakarta          5676.98       5296.711     7.18
  Kuala Lumpur     1744.67       1641.73      6.27
 Ho Chi Minh       723.22        664.87       8.78
 (Reporting by Ambar Warrick in Bengaluru; Editing by Sunil
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