June 11, 2018 / 10:02 AM / 10 months ago

SE Asia Stocks-Tepid ahead of U.S.-North Korea summit

    * Malaysia's April factory output up 4.6 pct y/y, above
    * Vietnam flat after 7 sessions of gains

    By Nicole Pinto
    June 11 (Reuters) - South East Asian shares were mostly
lacklustre on Monday with the Philippines and Singapore indexes
posting moderate gains, ahead of a U.S.-North Korea summit that
could pave the way for easing tensions on the Korean peninsula.
    On Monday, U.S. President Donald Trump said the summit with
North Korean leader Kim Jong Un on Tuesday, in Singapore, could
"work out very nicely" as officials from both countries met to
narrow their differences.
    The summit will be the first ever face-to-face meeting by
leaders of the two countries that have been enemies since the
1950-1953 Korean War.
    Investors also started to focus on key central bank meetings
slated for the week.
    Meanwhile, over the weekend at the Group of Seven summit, 
Donald Trump took aim at Canadian Prime Minister Justin Trudeau
saying he might double down on import tariffs on the sensitive
auto industry, while Trudeau said Canada could retaliate next
    Philippine shares edged up 0.4 percent with SM
Investments Corp gaining 1.1 percent and JG Summit
Holdings Inc up 2.8 percent. 
    Singapore shares rose 0.2 percent led by gains in
financials shares as DBS Group ended 0.5 percent
    Vietnam shares ended flat, after seven sessions of
gains, with Vietnam Dairy Products JSC up 1.8 percent
and Vietjet Aviation JSC climbing 2.8 percent. 
    Malaysian shares ended 0.1 percent lower, weighed
down by financials such as Public Bank and CIMB Group
    Earlier in the day, government data showed the country's
industrial output rose 4.6 in April from a year earlier, up from
the previous month, and above the 3.7 percent annual rise
forecast in a Reuters poll.
    Indonesian financial markets are closed from June 11 to June
19 for Eid Al-Fitr, while the Philippines will be closed on
Tuesday for Independence Day.
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 Change on the day                            
                    Current   Previous Close  Pct Move
 Singapore          3441.69   3436.37         0.15
 Bangkok            1723.11   1722.04         0.06
 Manila             7771.3    7740.74         0.39
 Kuala Lumpur       1775.8    1778.32         -0.14
 Ho Chi Minh        1039.02   1039.01         0.00
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3441.69   3402.92         1.14
 Bangkok            1723.11   1753.71         -1.74
 Manila             7771.3    8558.42         -9.20
 Kuala Lumpur       1775.8    1796.81         -1.17
 Ho Chi Minh        1039.02   984.24          5.57
 (Reporting by Nicole Pinto; Editing by Sunil Nair)
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