March 6, 2018 / 10:05 AM / 3 months ago

SE Asia Stocks-Vietnam bounces back, Singapore snaps five sessions of falls

    * Vietnam closes 2.5 pct higher, Singapore up 1.6 pct
    * Philippines, Thailand extend falls into 5th session
    * Indonesia gives up early gains to close 0.8 pct lower

    By Susan Mathew
    March 6 (Reuters) - Vietnam shares jumped 2.5 percent
on Tuesday, bouncing back from the previous session's sharp
drop, while Singapore stocks snapped five straight
sessions of declines and closed 1.6 percent higher.
    Asian shares also regained ground after U.S. President
Donald Trump faced growing pressure from political allies to
pull back from proposed steel and aluminium tariffs, easing
investor worries about an imminent trade war.
    In Vietnam, real estate company Vingroup JSC led
the gains, rising 4.8 percent, while Joint Stock Commercial Bank
for foreign trade of Viet Nam climbed 4.7 percent.
    Lenders led the rise in Singapore with United Overseas Bank
 and Oversea-Chinese Banking Corp gaining
more than 2 percent each.
    Philippine stocks slipped 0.3 percent, extending
their falls into a fifth session after data showed that
inflation in February was higher than the central bank's target.
    This might prompt the central bank to raise interest rates
at its March meeting, or at least in the near future, said Manny
Cruz, an analyst at Manila-based Asiasec Equities Inc.
    Losers were led by real estate company Ayala Land
with a drop of 1.1 percent, while food and beverage company
Universal Robina Corp dropped 2.1 percent.
    Foreign investors net sold 737.2 million pesos ($14.18
million) worth of shares on Tuesday.
    Foreigners turned net sellers of Asian equities in February,
with outflows hitting their highest in more than two years, amid
an increase in market volatility as well as a rise in U.S.
Treasury yields.
    Indonesian shares closed 0.8 percent lower after
rising as much as 0.6 percent earlier. Consumer stocks were
among the top losers with Unilever Indonesia shedding
2.7 percent and Bank Negara Indonesia declining 3.9
percent.
    An index of the nation's 45 most liquid stocks was
down more than 1 percent.
    Thai shares dropped for a fifth consecutive session
amid sharp selling in the afternoon session. Energy stocks led
the losers with Energy Absolute shedding 15.9 percent.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY
    
 Market             Current        Previous      Pct Move
                                   close         
 Singapore          3491.92        3438.61       1.55
 Bangkok            1799.06        1808.89       -0.54
 Manila             8360.22        8386.17       -0.31
 Jakarta            6500.111       6550.593      -0.77
 Kuala Lumpur       1848.37        1842.62       0.31
 Ho Chi Minh        1120.29        1093.48       2.45
                                                  
 Change on year                                   
 Market             Current        End 2017      Pct Move
 Singapore          3491.92        3402.92       2.62
 Bangkok            1799.06        1753.71       2.59
 Manila             8360.22        8,558.42      -2.32
 Jakarta            6500.111       6,355.65      2.27
 Kuala Lumpur       1848.37        1796.81       2.87
 Ho Chi Minh        1120.29        984.24        13.82
    

($1 = 51.9870 Philippine pesos)

 (Reporting by Susan Mathew in Bengaluru; Editing by Subhranshu
Sahu)
  
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