June 4, 2019 / 4:08 AM / 3 months ago

SE Asia Stocks-Most fall as bleak data fans global slowdown fears

    * Philippines set to end 5 straight sessions of gains 
    * Singapore up; May PMI at 49.9 vs 50.3 in April
    * Thai May headline CPI +1.15% y/y vs +1.0% f'cast

    By Niyati Shetty
    June 4 (Reuters) - Most Southeast Asian stock markets fell
on Tuesday, with Philippines leading declines, as disappointing
economic data and the protracted Sino-U.S. trade conflict
reignited global growth fears.
    The bitter trade war had its economic repercussions with
factory activity slowing in the United States, Europe and Asia
last month, raising fears of a global recession and hurting risk
sentiment.
    U.S. manufacturing activity slowed further in May to its
weakest pace of activity in more than 2-1/2 years, a national
purchasing managers' survey showed on Monday.
    "There is no light at the end of the tunnel yet amid the
ongoing U.S.-China trade and tech war which has dented market
confidence and may continue to take a toll on global demand as
time wears on," OCBC Bank said, referring to the weakness in
global manufacturing data.
    Philippine stocks lost up to 1.5%, snapping five
straight sessions of gains, weighed down by the real estate
sector. 
    Ayala Land Inc and SM Prime Holdings Inc
fell 4.1% and 2%, respectively.
    The Malaysian index fell 0.3% hurt by
telecommunication stocks. Maxis Bhd slipped 1.6% and
Axiata Group Bhd was down 2.4%. The bourse traded only
half day on Tuesday.
    Vietnam shares were poised for a sixth straight
session of decline, dragged down by real estate stocks Vinhomes
JSC and Vingroup JSC. 
    Singapore stocks, however, rose even as the island's
factory activity in May contracted for the first time in nearly
3 years.
    "In the short-term, stocks have been oversold and we expect
a technical rebound," Singapore-based KGI Securities said in a
note to clients.
    The Thai index gained 0.7%. Thailand's annual
headline inflation rate rose 1.1% in May, slightly higher than a
Reuters poll forecast of 1.0%, but slower than the previous
month.
    Most economists expect the central bank to leave interest
rates unchanged throughout this year, after tightening in
December for the first time since 2011, as inflation is benign
and growth slows.
    Indonesia financial markets are closed for holidays this
week. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0335 GMT
 Market                 Current   Previous close  Pct Move
 Singapore              3131.19   3123.46         0.25
 Bangkok                1631.59   1620.22         -0.70
 Manila                 7973.64   8084.88         -1.38
 Kuala Lumpur           1650.63   1655.31         -0.28
 Ho Chi Minh            944.28    946.47          -0.23
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3131.19   3068.76         2.03
 Bangkok                1631.59   1563.88         4.33
 Manila                 7973.64   7,466.02        6.80
 Kuala Lumpur           1650.63   1690.58         -2.36
 Ho Chi Minh            944.28    892.54          5.80
 
 (Reporting by Niyati Shetty in Bengaluru; editing by Gopakumar
Warrier)
  
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