May 20, 2019 / 10:23 AM / in a month

SE Asia Stocks-Indonesia snaps 5 days of falls, Philippines extends gains

    * Indonesia election results due Wednesday
    * Vietnam shares hit over 1-mth closing high

    By Niyati Shetty
    May 20 (Reuters) - Indonesian shares rose on Monday as
investors bought beaten-down stocks after five sessions of
falls, while Philippine shares closed higher for a second
straight day.
    Broader Asia managed to reverse some of last week's heavy
losses as investors cheered apparent wins by Conservative
incumbent parties in elections in Australia and India.

    But Chinese equities extended losses as trade tensions with
the United States dragged on, with Beijing last week suggesting
that a resumption of talks to end the dispute was unlikely to
happen.
    Meanwhile, U.S. President Donald Trump said his tariffs on
Chinese goods were causing companies to move production out of
China to Vietnam and other countries in Asia.
    The key Jakarta stock index closed 1.4% higher after
declining more than 6% in the previous five sessions.
    Financials led the recovery with Bank Central Asia Tbk PT
 rising 3.9%. Among other gainers, PT Telekomunikasi
Indonesia (Persero) Tbk advanced 2.6% and PT Astra
International Tbk added 3%.
    Investors now await the General Election Commission's
announcement of presidential election results on Wednesday,
which is expected to confirm unofficial counts that showed
incumbent President Joko Widodo winning a second term.

    Philippine shares advanced 1%, with index
heavyweights Aboitiz Equity Ventures Inc and Ayala Land
Inc climbing 4.6% and 1.6%, respectively.
    Vietnam shares rose 1.1% to their highest close since
April 9, supported by consumer staples and financials. 
    Saigon Beer Alcohol Beverage Corp added 2.3%, while
Joint Stock Commercial Bank for Foreign Trade of Viet Nam
 gained 1.5%.    
    Financial markets in Singapore, Thailand and Malaysia were
closed for holidays.
    
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SOUTHEAST ASIAN STOCK MARKETS
    
 Market                 Current   Previous close  Pct Move
 Manila                 7660.14   7583.82         1.01
 Jakarta                5907.121  5826.868        1.38
 Ho Chi Minh            987.13    976.48          1.09
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Manila                 7660.14   7,466.02        2.60
 Jakarta                5907.121  6,194.50        -4.64
 Ho Chi Minh            987.13    892.54          10.60
 
 (Reporting by Niyati Shetty in Bengaluru; Editing by Subhranshu
Sahu)
  
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