May 22, 2018 / 10:16 AM / 5 months ago

SE Asia Stocks-Most markets fall on strong dollar; Vietnam down 2.9 pct

    * Philippines falls for fifth straight session
    * Vietnam marks near five-month closing low
    * Indonesia snaps three straight sessions of fall

    By Karthika Suresh Namboothiri
    May 22 (Reuters) - Most Southeast Asian stock markets fell
on Tuesday, with Vietnam shedding 2.9 percent, as a strong
dollar crimped demand for emerging-market assets.
    The dollar hovered near a five-month high against a basket
of currencies, boosted by easing U.S.-China trade tensions.

    "As with the running trend over the past weeks, investors
found themselves leaning towards DM (developed-market) assets
more so than their EM (emerging-market) counterparts," OCBC
Treasury Research said in a note.
    Malaysian shares fell 0.5 percent with Telekom
Malaysia closing more than 11 percent lower on weak
quarterly earnings, while electricity producer and distributor
Tenaga Nasional dropped 2 percent.
    Thai shares declined 0.4 percent, dragged by energy
stocks. Gas supplier PTT PCL was the biggest drag with
a fall of 2.6 percent.  
    Philippine stocks extended their fall into a fifth
session and closed 0.2 percent lower, while Singapore shares
 erased early gains to end marginally lower.
    The city-state's annual headline inflation rate likely rose
in April from last month, a Reuters poll showed. The data is
expected on Wednesday.
    Vietnam shares fell 3.8 percent in intraday trading,
the sharpest since Feb. 9, before recovering slightly to close
near a five-month low.
    Vietnam shares have shed over 16 percent in the second
quarter of the year, after gaining 19.3 percent in the first
three months.
    Indonesian shares snapped three straight sessions of
decline and closed 0.3 percent higher.
    Automotive distributor Astra International ended
6.5 percent higher, while Bank Central Asia rose 1.6
percent.
    "The investment landscape for Southeast Asia, especially
Indonesia, has been very weak, evident by the depreciating local
currency," said Taye Shim, head of research at Jakarta-based
Mirae Asset Sekuritas.
    However, the positive news flow from U.S.-China trade
tensions, served as a catalyst for (Indonesian) equity markets,
and is what the market needed most at this point of time, Shim
added.
    China and the United States stepped back from the brink of a
global trade war and agreed to hold further talks.
       
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SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3543.18   3548.23         -0.14
 Bangkok            1760.71   1768.31         -0.43
 Manila             7646.2    7658.05         -0.15
 Jakarta            5751.119  5733.854        0.30
 Kuala Lumpur       1845.03   1853.58         -0.46
 Ho Chi Minh        985.91    1014.98         -2.86
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3543.18   3402.92         4.12
 Bangkok            1760.71   1753.71         0.40
 Manila             7646.2    8558.42         -10.66
 Jakarta            5751.119  6355.654        -9.51
 Kuala Lumpur       1845.03   1796.81         2.68
 Ho Chi Minh        985.91    984.24          0.17
 
 (Reporting by Karthika Suresh Namboothiri; Editing by
Subhranshu Sahu)
  
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