May 28, 2018 / 4:51 AM / 3 months ago

SE Asia Stocks-Most markets fall; Malaysia down for 5th session in six

    * Indonesia up for fifth straight session
    * Vietnam falls 2.9 pct to over 5-month low

    By Nicole Pinto
    May 28 (Reuters) - Most Southeast Asian stock markets fell
on Monday, with Malaysia declining for a fifth session
in six, while Indonesia extended gains on the back of
financial and infrastructure stocks.
    "There are lots of pitfalls that could sideswipe the
markets," said Stephen Innes, head of trading APAC at Oanda,
referring to the U.S.-China trade issues, N.Korea-U.S. summit
and strong U.S. dollar.
    U.S. oil futures hit six-week lows on expectations major
producers may ease output curbs, while Asian stocks and U.S.
share futures gained on signs the United States and North Korea
were still working towards holding a summit.
    In Malaysia, trading services firms including IHH Healthcare
 and Sime Darby were among the top losers.
    IHH Healthcare fell as much as 4.8 percent and Sime Darby
plunged 9 percent on disappointing quarterly results.

    Vietnam shares fell as much as 2.9 percent to a more
than five-month low. Vinhomes JSC declined 5.5 percent
and Vietnam Prosperity Joint Stock Commercial Bank fell
5 percent.
    Indonesian shares climbed as much as 1.4 percent and
were headed for a fifth straight session of gains. Bank Mandiri
(Persero) Tbk PT rose 5 percent and Bank Central Asia
Tbk PT climbed 1.1 percent.
    The central bank said on Friday that it would hold an
additional meeting of its board of governors on Wednesday to
discuss economic and monetary conditions.
    "We suspect that the persistent selloff in the rupiah and
upward pressures on local government bond yields (despite the
recent 25bps rate hike) may prompt further action," DBS said in
a note. 
    "Further BI rate hikes may be needed, with the next one
possibly as early as this week."
    
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SOUTHEAST ASIAN STOCK MARKETS: Change as at 0448 GMT
 STOCK MARKETS                                
                    Current   Previous Close  Pct Move
 Singapore          3526.07   3513.23         0.37
 Bangkok            1733.73   1741.21         -0.43
 Manila             7633.71   7647.51         -0.18
 Jakarta            6046.261  5975.742        1.18
 Kuala Lumpur       1786.07   1797.4          -0.63
 Ho Chi Minh        939.66    963.9           -2.51
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3526.07   3402.92         3.62
 Bangkok            1733.73   1753.71         -1.14
 Manila             7633.71   8558.42         -10.80
 Jakarta            6046.261  6355.654        -4.87
 Kuala Lumpur       1786.07   1796.81         -0.60
 Ho Chi Minh        939.66    984.24          -4.53
 

 (Reporting by Nicole Pinto; Editing by Subhranshu Sahu)
  
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