May 25, 2018 / 5:03 AM / in 5 months

CORRECTED-SE Asia Stocks-Most muted; Malaysia, Indonesia gain

 (Corrects to "end 2017" from "end 2016" in table; also corrects
Philippines, Vietnam YTD price performance, end 2017 figures)
    * Indonesia shares extend gains into fourth session
    * Malaysia shares up as much as 1.3 percent

    By Binisha Ben
    May 25 (Reuters) - Malaysian shares climbed on Friday after
five sessions of losses and Bank Indonesia governor's promise to
focus on stabilising the rupiah helped local shares extend
gains, while trading was muted in the other Southeast Asian
stock markets.
    Indonesia's newly sworn-in central bank governor, Perry
Warjiyo, on Thursday said he aimed to use interest rate policy
to stabilise the rupiah in the near term and to be "more
pre-emptive" and ahead of the curve on monetary
settings.
    "This comment was very much needed at this point of time,
because market concerns were overly amplified, so that comment
of how he's going to stabilize the market calmed market fears
and has brought back risk appetite," said Taye Shim, head of
research at Jakarta-based Mirae Asset Sekuritas.
    Indonesian assets have been among the worst hit in Asia this
year as higher U.S. yields fuel foreign outflows, amid
discouraging domestic economic data. The rupiah has
been among the poorest performing currencies in Asia.
    The local benchmark equity index, which has shed
about 6 percent year-to-date, was set to extend gains into a
fourth straight session, rising about 0.6 percent. 
    Meanwhile, Malaysian stocks, which have been reeling under
concerns of worrying amounts of debts left behind by the
previous government, rose 1.2 percent and were set to end five
consecutive sessions of losses.
    Overseas investors sold $204 million of Malaysian equities
in the first four days of the week.
    Financial and telecom stocks climbed as Malaysia's new
government vowed to find out where state-fund 1Malaysia
Development Bhd's (1MDB) money went and punish those
responsible, assuaging investor worries.
    Mahatir had said Wednesday the government would try to cut
the national debt, which he put at 65 percent of GDP, by
reviewing projects and a 10 percent reduction in cabinet
ministers' salaries.
   Singapore shares were flat ahead of industrial data
expected later in the day, which is expected to show that
manufacturing output in April rose 8.3 percent from last year
and 1.2 percent from the prior month, as per a Reuters poll.


    
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0423 GMT
 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3528.03   3528.92         -0.03
 Bangkok         1731.53   1732.51         -0.06
 Manila          7624.46   7652.53         -0.37
 Jakarta         5980.699  5946.538        0.57
 Kuala Lumpur    1795.07   1775.66         1.09
 Ho Chi Minh     983       985.92          -0.30
                                           
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3528.03   3402.92         3.68
 Bangkok         1731.53   1753.71         -1.26
 Manila          7624.46   8558.42         -10.9 
 Jakarta         5980.699  6355.654        -5.90
 Kuala Lumpur    1795.07   1796.81         -0.10
 Ho Chi Minh     983       984.24          -0.1
 

 (Reporting by Binisha Ben; Additional reporting by Karthika
Namboothiri; Editing by Amrutha Gayathri)
  
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