May 22, 2018 / 4:20 AM / 3 months ago

SE Asia Stocks-Largely subdued; Indonesia climbs 1 percent

    * Indonesia snaps three sessions of losses
    * Dollar strength weighs on emerging markets

    By Karthika Suresh Namboothiri
    May 22 (Reuters) - Most Southeast Asian stock markets were
subdued on Tuesday, hurt by a strong dollar that crimped demand
for emerging market assets, while Indonesia held firm, gaining
over 1 percent.
    The dollar hovered near five-month highs against a basket of
currencies, boosted by a respite in U.S.-China trade tensions.

    MSCI's broadest index of Asia-Pacific shares outside Japan
 rose a touch, up 0.1 percent.
    Indonesian shares, however, snapped three sessions
of losses to climb over 1 percent, with financial and consumer
stocks leading.
    Automotive distributor Astra International gained
4.2 percent, while Bank Central Asia rose 2.1 percent.
    "The investment landscape for Southeast Asia, especially
Indonesia, has been very weak, evident by the depreciating local
currency," said Taye Shim, head of research at Jakarta-based
Mirae Asset Sekuritas.
    However, the positive newsflow from U.S. and China trade
tensions, served as a catalyst for (Indonesian) equity markets,
and is what the market needed most at this point of time, Shim
added.
    China and the U.S. stepped back from the brink of a global
trade war and agreed to hold further talks.
    Indonesia's index of 45 most liquid stocks was up
1.7 percent.
    Singapore shares rose marginally, boosted by
industrials. Jardine Matheson Holdings and Keppel Corp
 were up as much as 3.3 percent and 1.1 percent
respectively.
    The city-state's annual headline inflation rate likely rose
in April from last month, a Reuters poll showed. The data is
expected on Wednesday.
    Malaysian stocks slipped, with losses in utilities
and materials. Electricity distributor Tenaga Nasional
shed over 2 percent.
    The country's annual inflation data, due on Wednesday, is
expected to show a 1.6 percent rise in April, according to a
Reuters poll.
    The Philippine index fell marginally, down for a
fifth session. Real estate developer Ayala Land was the
biggest drag on the index, down as much as 1.1 percent. 
        
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0401 GMT
    
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3551.99   3548.23         0.11
 Bangkok            1766.24   1768.31         -0.12
 Manila             7649.57   7658.05         -0.11
 Jakarta            5799.388  5733.854        1.14
 Kuala Lumpur       1850.82   1853.58         -0.15
 Ho Chi Minh        1011.1    1014.98         -0.38
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3551.99   3402.92         4.38
 Bangkok            1766.24   1753.71         0.71
 Manila             7649.57   8558.42         -10.62
 Jakarta            5799.388  6355.654        -8.75
 Kuala Lumpur       1850.82   1796.81         3.01
 Ho Chi Minh        1011.1    984.24          2.73
 
 (Reporting by Karthika Suresh Namboothiri; Editing by Sunil
Nair)
  
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