April 22, 2019 / 4:06 AM / 2 months ago

SE Asia Stocks-Most gain as U.S. growth concerns abate; Indonesia falls

    * Indonesia falls more than 1 percent 
    * Philippines on track for third straight session of gains

    April 22 (Reuters) - Most Southeast Asian stock markets
advanced on Monday as a string of strong U.S. corporate earnings
coupled with robust economic data boosted risk sentiment, while
Indonesia fell more than 1 percent after sharp gains last week.
    Positive quarterly results from industrials stocks and
glowing U.S. retail sales data on Friday assuaged concerns about
the health of the world's largest economy, driving a rally on
Wall Street.
    The risk-on sentiment also spread across Southeast Asia,
with Malaysian shares climbing 0.5 percent, leading the
gainers in the region.
    Malaysian index heavyweights Malayan Banking Bhd
and Tenaga Nasional Bhd rose as much as 1.1 percent
and 1.3 percent, respectively.   
    "No doubt, reasons for a sanguine market tone are plentiful:
a firming of U.S. and Chinese growth, hopes of a trade deal, an
unabashedly dovish Fed, a loosening of the Chinese credit
spigots and even an elevated possibility of a softer Brexit,"
said Mizuho Bank in a client note.
    Southeast Asian equities have rebounded strongly this year
after recording hefty losses in 2018 due to a dovish turn of the
U.S. Federal Reserve and China's pledge to support its economy.
    However, Indonesian shares dropped 1.3 percent after
 gaining 1.6 percent last week on expectations of incumbent
leader Joko Widodo's return to power for second five-year term.
    Unilever Indonesia and Astra International
 were top drags on the index, falling about 1.9 percent
each.
    An index of the country's 45 most liquid stocks
fell 1.4 percent.
    Thai shares climbed 0.3 percent, boosted mostly by
energy and financial sectors, ahead of the country's trade data
for March due later in the day.
    A Reuters poll showed Thailand's customs-cleared annual
exports in March to have fallen 3 percent.
    PTT and PTT Exploration and Production
rose 0.5 percent and 1.5 percent, respectively.  
    Philippines shares were on track for their third
straight session of gains, rising as much as 0.3 percent.
    Industrials sector was the biggest boost to the index, with
SM Investments Corp and JG Summit Holdings Inc 
gaining as much as 1 percent and 2.4 percent, respectively.
     
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SOUTHEAST ASIAN STOCK MARKETS
  Change on the day                                         
  Market                Current       Previous     Pct Move
                                      close        
  Singapore             3354.65       3347.58      0.21
  Bangkok               1681.09       1674.1       0.42
  Manila                7843.96       7835.15      0.11
  Jakarta               6427.594      6507.221     -1.22
  Kuala Lumpur          1629.78       1622.07      0.48
  Ho Chi Minh           962.37        966.21       -0.40
                                                   
  Change so far in                                 
 2019                                              
  Market                Current       End 2018     Pct Move
  Singapore             3354.65       3068.76      9.32
  Bangkok               1681.09       1563.88      7.49
  Manila                7843.96       7,466.02     5.06
  Jakarta               6427.594      6,194.50     3.76
  Kuala Lumpur          1629.78       1690.58      -3.60
  Ho Chi Minh           962.37        892.54       7.82
 
 (Reporting by Aditya Soni in Bengaluru; Editing by Gopakumar
Warrier)
  
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