May 7, 2018 / 4:19 AM / 5 months ago

SE Asia Stocks-Most higher; Malaysia down ahead of general elections

    * Indonesia posts biggest gain in one week
    * Singapore falls to over 2-wk low
    * Malaysia slides more than 1 pct

    By Karthika Suresh Namboothiri
    May 7 (Reuters) - Most Southeast Asian stock markets rose on
Monday, in line with broader Asia, as a tame reading on wages
muted possibilities the U.S. Federal Reserve would increase the
pace of rate hikes, while Malaysia fell over 1 percent ahead of
general elections later this week.
    The U.S. Labor Department's closely watched employment
report on Friday showed wages barely rose last month, which may
ease concerns that inflation pressures are rapidly building up,
likely keeping the Fed on a gradual path of monetary policy
tightening.
    Asia shares ex-Japan were 0.5 percent
higher.
    In Southeast Asia, Philippines edged up, largely led
by real estate and telecommunication stocks.
    Property developer SM Prime Holdings gained as
much as 1.9 percent, while Globe Telecom surged as much
as 6.8 percent on higher quarterly profit.
    Jakarta's main index snapped two sessions of losses
to rise 1.1 percent. PT Telekomunikasi Indonesia was
the top mover, climbing 2.1 percent.
    A Reuters poll showed the country's GDP expanded 5.18
percent in the first quarter, above the central bank's outlook
of 5.1 percent. 
    Malaysian shares extended losses to shed as much as
1.1 percent, to hit their lowest in one month. 
    "The market is on the downside as we are headed for
elections and money investors are trimming their investments
from equities," said Nik-Ihsan, an analyst at Maybank Kim Eng.
    The country will hold general elections on Wednesday.
    Singapore inched down to a more than two-week low, dragged
lower by financials.
    Oversea-Chinese Banking Corp fell as much 3.2
percent after the lender posted quarterly profits below
estimates.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS as at 0353 GMT
 STOCK MARKETS                                
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3542.68   3545.38         -0.08
 Bangkok            1786.73   1779.87         0.39
 Manila             7557.34   7546.19         0.15
 Jakarta            5855.938  5792.345        1.10
 Kuala Lumpur       1828.64   1841.83         -0.72
 Ho Chi Minh        1030.3    1026.8          0.34
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3542.68   3402.92         4.11
 Bangkok            1786.73   1753.71         1.88
 Manila             7557.34   8558.42         -11.70
 Jakarta            5855.938  6355.654        -7.86
 Kuala Lumpur       1828.64   1796.81         1.77
 Ho Chi Minh        1030.3    984.24          4.68
 
 (Reporting by Karthika Suresh Namboothiri; additional reporting
by Sumeet Gaikwad; Editing by Biju Dwarakanath)
  
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