May 21, 2018 / 10:05 AM / a month ago

SE Asia Stocks-Most end lower; Indonesia posts 11-month closing low

    * Vietnam down for a third session in four
    * Philippines, Malaysia erase early gains to close lower
    * Thai Q1 GDP grew fastest in 5 years

    By Karthika Suresh Namboothiri
    May 21 (Reuters) - Most Southeast Asian stock markets
reversed early gains to end lower on Monday with Indonesia
marking its lowest close in more than 11 months while Vietnam
shed 2.5 percent.
    Jakarta's main index closed at its lowest since June
2017, with banking stocks bearing the brunt.
    Bank Rakyat Indonesia ended 6.1 percent lower,
while Bank Negara Indonesia lost 3.6 percent.
    Bank Indonesia said it would conduct three foreign exchange
swap auctions this week to ensure there is enough currency
liquidity in the market after it hiked its benchmark interest
rate last week to support the rupiah and plug capital
outflows.
    "As the U.S. continuously raises interest rates, it's
impacting a lot of emerging markets, such as Indonesia. Hence,
the central bank has to raise interest rates to stamp out
capital outflows," said Joel Ng, analyst at KGI Securities.
    The index of the country's most liquid stocks shed
1.3 percent.
    Vietnam ended 2.5 percent lower, with real estate and
financials leading the fall. Vingroup Joint Stock was
the biggest drag on the index, closing 7 percent lower.
    "Foreign selling recently has hit Vietnam harder. We went up
a lot in the first quarter, so the impact of profit-taking is
greater now," said Fiachra Mac Cana, head of research at Ho Chi
Minh Securities.
    Singapore nudged up 0.54 percent to end at a one-week
high, while Thai stocks gained for a third straight
session.
    Petroleum explorer PTT Exploration and Production
closed 3.4 percent higher, while Kasikornbank gained
2.4 percent.
    Thailand saw its fastest economic growth in five years in
the first quarter, boosted by strong exports and tourism, plus a
slight firming in private consumption
    
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SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3548.23   3529.27         0.54
 Bangkok            1768.31   1754.17         0.81
 Manila             7658.05   7672.28         -0.19
 Jakarta            5733.854  5783.31         -0.86
 Kuala Lumpur       1853.58   1854.5          -0.05
 Ho Chi Minh        1014.98   1040.54         -2.46
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3548.23   3402.92         4.27
 Bangkok            1768.31   1753.71         0.83
 Manila             7658.05   8558.42         -10.52
 Jakarta            5733.854  6355.654        -9.78
 Kuala Lumpur       1853.58   1796.81         3.16
 Ho Chi Minh        1014.98   984.24          3.12
 
 (Reporting by Karthika Suresh Namboothiri; additional reporting
by Binisha H. Ben; Editing by Sunil Nair)
  
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