April 24, 2018 / 10:08 AM / a year ago

SE Asia Stocks-Most fall; Philippines drops to 1-yr closing low

    * Vietnam recoups earlier losses, ends higher
    * Indonesia, Malaysia post third straight losing session
    * Singapore's DBS Group Holdings hits all-time high

    By Sumeet Gaikwad
    April 24 (Reuters) - Most Southeast Asian stock markets fell
on Tuesday as rising U.S. treasury yields stoked a sell-off in
riskier equities, with the Philippines dropping sharply to its
lowest close in one year on continued foreign selling.
    However, Vietnam ended higher, recouping earlier losses in
the session that had pulled it down to a 10-week low, while
Singapore also strengthened marginally.
    U.S. bond prices have fallen for the past four days, pushing
up the 10-year yield to 2.998 percent, its highest
since January 2014.
    The Philippine stock exchange was the region's top
percentage loser, falling 1.5 percent to its lowest close since
April 2017. Real estate stocks and financials weighed down the
index, with Ayala Land Inc slipping 2.9 percent and
Bank of the Philippine Islands dropping 3.6 percent.
    "We have seen net foreign selling in Philippines, very
consistent selling in the past two months already. I believe
today is no different. That's causing the weakness in the
Philippine market," said Charles Ang, an analyst with
Manila-based COL Financial.
    Meanwhile, Vietnam stocks ended 0.4 percent higher,
helped by real estate stocks and utilities. 
    Vingroup JSC was 3.1 percent higher, while
Petrovietnam Gas Joint Stock Corp closed 3.3 percent
    "Macro-economic indicators are looking good with high GDP
growth and low CPI. Last year we saw strong capital inflows,
especially from South Korea. The momentum is maintained this
year. Overall, Vietnam's market is still on an uptrend." said
Tran Anh Tuan, chief analyst at Vietcombank Securities.
    Vietnam's economy is expected to grow more than 7 percent
this year, backed by robust exports, domestic consumption and
strong foreign investment, the Asian Development Bank said last
    Singapore stocks edged higher, helped by gains in
financials and consumer staples. 
    The city-state's biggest lender, DBS Group Holdings
, rose to an all-time closing high, while Thai Beverage
Pcl climbed as much as 9.3 percent.     
   Indonesian shares fell to their lowest close in over
two weeks, with Unilever Indonesia retreating 5.5
   The country's index of 45 most liquid stocks was
down 1.6 percent.
    Malaysian shares ended 0.8 percent lower as
financials and telecom stocks dragged down the index, while Thai
stocks pared earlier gains to edge lower.
For Asian Companies click;  

 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3584.56   3579.54         0.14
 Bangkok         1788.2    1790.14         -0.11
 Manila          7600.36   7719.47         -1.54
 Jakarta         6229.635  6308.148        -1.24
 Kuala Lumpur    1865.34   1880.36         -0.80
 Ho Chi Minh     1080.74   1076.78         0.37
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3584.56   3402.92         5.34
 Bangkok         1788.2    1753.71         1.97
 Manila          7600.36   8558.42         -11.19
 Jakarta         6229.635  6355.654        -1.98
 Kuala Lumpur    1865.34   1796.81         3.81
 Ho Chi Minh     1080.74   984.24          9.80

 (Reporting by Sumeet Gaikwad; Additional reporting by Khanh Vu;
Editing by Amrutha Gayathri)
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