June 3, 2019 / 9:53 AM / 4 months ago

SE Asia Stocks-Philippines gains on policy easing prospects; Malaysia up on export data

    * Philippines hits highest close since Feb 7
    * Malaysia April exports +1.1% y/y vs -1% f'cast
    * Vietnam falls to near 4-month closing low

    By Niyati Shetty
    June 3 (Reuters) - Philippine shares rose nearly 1.5% on
Monday, extending gains into a fifth session, as a promise of
further policy easing by the central bank chief lifted risk
sentiment, while Malaysian stocks gained on a surprise rebound
in monthly exports.
    Pledging further rate cuts and lower reserve requirement for
banks to support the economy, Bangko Sentral ng Pilipinas
Governor Benjamin Diokno said in an interview here
 with Bloomberg TV on Friday that there was more room for
monetary easing but the timing depended on upcoming economic
data. 
    Annual inflation likely eased to a 17-month low in May, a
Reuters poll showed, adding to the possibility of the central
bank further unwinding policy. 
    The inflation data is due on Wednesday. 
    Last month, the central bank trimmed key rates and later
announced a three-step reduction in the amount of cash that
banks must hold as reserves, to help shore up the economy as
inflation pressures cooled.
    The key Manila stock index rose 1.4% to a near
four-month closing high, supported by real estate and industrial
stocks. 
    Property developer Ayala Land Inc gained 6% and
conglomerate SM Investment Corp added 2%. 
    Meanwhile, Malaysian shares reversed course to end
higher as government data showed exports rose unexpectedly in
April after two straight months of declines.
    Exports rose 1.1% in April from a year earlier, above the 1%
decline forecast in a Reuters poll, helped by higher exports of
manufactured goods. 
    Petronas Gas gained 2.9% and electricity firm
Tenaga Nasional advanced 1.3%.
    Singapore shares were marginally higher with index
heavyweights Jardine Matheson Holdings Ltd and Jardine
Strategic Holdings Ltd adding 1.4% and 1.7%,
respectively.
    Vietnam shares fell 1.4% to their lowest close since
Feb. 13, weighed down by financial and real estate stocks. 
    Vietnam Technological And Commercial Joint Stock Bank
 lost 4.9% and Vinhomes JSC fell 1.7%. 
    Thailand's financial markets were closed on Monday for a
holiday, while Indonesia is closed for the week. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Market                 Current   Previous close  Pct Move
 Singapore              3123.46   3117.76         0.18
 Manila                 8084.88   7970.02         1.44
 Kuala Lumpur           1655.31   1650.76         0.28
 Ho Chi Minh            946.47    959.88          -1.40
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3123.46   3068.76         1.78
 Manila                 8084.88   7,466.02        8.29
 Kuala Lumpur           1655.31   1690.58         -2.09
 Ho Chi Minh            946.47    892.54          6.04
 
 (Reporting by Niyati Shetty in Bengaluru; Editing by Subhranshu
Sahu)
  
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