July 16, 2019 / 10:00 AM / a month ago

REFILE-SE Asia Stocks-Philippine eases off 16-mth high; Singapore up ahead of trade data (July 16)

 (In July 16 item, corrects day in paragraph 1 to Tuesday from
Monday)
    * Philippine index falls 1.22%
    * Vietnam index gains 1%
    * Thailand closed for holiday

    By Niyati Shetty
    July 16 (Reuters) - Philippine shares fell from a 16-month
peak on Tuesday as investors booked profits after previous
session's significant gains, while Singapore stocks rose ahead
of key export data.
    The Philippine index reversed course and lost 1.2%,
after extending gains earlier in the day to highest since March
last year.
    The index added 2.7% on Monday in "anticipation of better
corporate earnings, indication of a policy rate cut and lower
bond yield," said Miguel Ong, research analyst at AP Securities
in Manila.
    "Today's (Tuesday) losses are more of a healthy collection."
    Lender BDO Unibank Inc dropped 5.1% and
conglomerate SM Investments Corp was 1.7% down.
    Meanwhile, the Singapore index closed 0.4% higher
ahead of non-oil export figures due on Wednesday, which will be
closely watched for any further signs of weakness in the
export-reliant economy.
    Heavyweights DBS Group Holdings Ltd and Jardine
Strategic Holdings Ltd gained 0.5% and 1.1%,
respectively. 
    Expectations of the central bank easing policy at its
semi-annual meeting in October increased after data showed the
economy grow just 0.1% in second-quarter, its slowest pace in a
decade.
    The International Monetary Fund on Tuesday trimmed
Singapore's 2019 economic growth forecast to 2% from 2.3% as
global trade tensions hit exports from the city-state.

    Vietnam stocks closed up 1% buoyed by real estate and
financial stocks. Vinhomes JSC added 2.3%, while
Vietcombank rose 2.9% and was the best performer in the
index. The bank's first-half pretax profit jumped 40.7% from a
year ago.
    Indonesian shares fell 0.3% dragged by financials
and communication services sectors. Bank Mandiri and
Telekomunikasi Indonesia each lost 0.9%.
    The fall is caused partly by rotation into government bonds
following Tuesday's auction, said Anugerah Zamzami Nasr, Equity
Research Analyst at PT Phillip Sekuritas Indonesia.
    Indonesia raised 22.05 trillion rupiah ($1.58 billion) in a
bond auction on Tuesday, higher than the indicative target of 15
trillion rupiah.
    Malaysian stocks also ended lower, with mobile
service provider Digi.com declining 1.4%. The firm's
largest shareholder Norway's Telenor flagged lower
earnings due to problems at some of its Asian operations.

    Thai financial markets were closed for a holiday.     
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Market                 Current  Previous close  Pct Move
 Singapore              3360.03  3347.95         0.36
 Manila                 8263.57  8365.29         -1.22
 Jakarta                6401.88  6418.234        -0.25
 Kuala Lumpur           1668.94  1672.37         -0.21
 Ho Chi Minh            982.11   972.53          0.99
                                                 
 Change so far in 2019                           
 Market                 Current  End 2018        Pct Move
 Singapore              3360.03  3068.76         9.49
 Manila                 8263.57  7,466.02        10.68
 Jakarta                6401.88  6,194.50        3.35
 Kuala Lumpur           1668.94  1690.58         -1.28
 Ho Chi Minh            982.11   892.54          10.04
 ($1 = 13,930.0000 rupiah)

 (Reporting by Niyati Shetty in Bengaluru; editing by Gopakumar
Warrier)
  
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