May 17, 2019 / 10:38 AM / 8 days ago

SE Asia Stocks-Philippines jumps as cenbank pledges to ease liquidity norms

    * Indonesia posts biggest weekly loss since April 2018
    * Philippines snaps five straight sessions of declines

    By Nikhil Subba
    May 17 (Reuters) - Philippine shares jumped about 1.5% on
Friday, the most in about two-and-a-half months, as the central
bank pledged to ease liquidity norms to boost growth, while
Indonesian stocks fell to their lowest in more than six months
on worries over financing.
    Bangko Sentral ng Pilipinas said after market hours on
Thursday that it would cut the amount of cash that banks must
hold as reserves in three steps to help boost liquidity as
economic growth slows.
    Investors cheered the central bank's announcement and bought
heavily, helping the benchmark stock index snap five
straight sessions of losses. 
    However, the rally was not enough to pull the benchmark
index out of the red for the week. The index lost 2% for the
week in its second straight weekly drop.
    Indonesian stocks closed 1.2% lower after the central bank
warned that liquidity in the banking system was "heading toward
tightness" and financing might become an issue.
    The key Jakarta stock index fell 6.2% this week in
its biggest drop since late April 2018.  
    Singapore shares fell 0.6%, dragged by financial and
oil stocks, and posted their second consecutive weekly loss.
    Data released on Friday showed that exports in April fell
more than expected, highlighting a continued slowdown in
manufacturing and GDP growth in the current quarter.
    Thai shares closed about 0.5% lower, weighed down by
technology stocks, after a Reuters poll showed that the annual
pace of first-quarter economic growth likely was the weakest for
any quarter in almost four years.
    
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS       
  Change on day                                            
  Market             Current    Previous Close   Pct Move
  Singapore          3205.46    3230.26          -0.77
  Bangkok            1608.11    1614.75          -0.41
  Manila             7583.82    7475.16          1.45
  Jakarta            5826.868   5895.738         -1.17
  Kuala Lumpur       1605.36    1599.19          0.39
  Ho Chi Minh        976.48     975.69           0.08
                                                 
  Change on year                                 
  Market             Current    End 2017         Pct Move
  Singapore          3205.46    3068.76          4.45
  Bangkok            1608.11    1563.88          2.83
  Manila             7583.82    8558.42          -11.39
  Jakarta            5826.868   6194.498         -5.93
  Kuala Lumpur       1605.36    1690.58          -5.04
  Ho Chi Minh        976.48     984.24           -0.79
 
 (Reporting by Nikhil Subba; Editing by Subhranshu Sahu)
  
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