April 25, 2019 / 9:57 AM / in 3 months

SE Asia Stocks-Most slip; Indonesia falls most as consumer staples drag

    * Unilever biggest drag in Indonesia
    * Ayala Land biggest boost to Philippine index on listing
plans

    By Ambar Warrick
    April 25 (Reuters) - Indonesian shares hit a near
1-1/2-month closing low on Thursday due to a fall in consumer
staples counters, as most Southeast Asian stock markets ended
down, while Philippines rose on last-minute gains in real-estate
companies.
    Asian shares slipped as a surprise deterioration in German
and South Korean economic data rekindled fears of slowing global
growth. The selling extended into regional equities as well.

    The Jakarta stock index dropped 1.2 percent and was
the largest loser in the region, following a decline in consumer
staple stocks as heavyweight Unilever Indonesia
plunged 4.6 percent.
    Brokerage Maybank Kim Eng said in a note that the company's
first-quarter net profit fell below expectations. 
    A decline in Unilever's results points to a weaker
environment for local consumer staples, which are the second
largest sector on the Jakarta index. 
    Unilever was the largest drag on the index, followed by
consumer oriented Astra International and Charoen
Pokphand Indonesia. 
    An index of the country's 45 most volatile stocks
ended about 1.5 percent lower, implying high volatility over the
session. 
    Indonesia's central bank held its benchmark interest rate,
as widely expected.
    Singapore shares ended around 0.4 percent lower on
profit taking, after the index ended at a more than 10-month
high on Wednesday. 
    For the day, lender DBS Group shed 0.4 percent,
while Singapore Technologies Engineering closed 0.3
percent down.
    Philippine's benchmark, however, ended 0.6 percent
higher on last minute gains in real estate stocks, with property
developer Ayala Land rising about 3 percent.
    Charlene Ericka Reyes, officer-in-charge of trading and
research at The First Resources Management and Securities Corp
said that buyers had entered near the end of the session, and
that real estate stocks, namely Ayala and SM Prime, saw net
foreign inflows on their future growth plans.
    Ayala, which is the third largest stock on the index, ended
at a record high on extended gains after it flagged plans to
list the country's first real estate investment trust for about
$500 million. 
    Other real estate majors also saw buying, with SM Prime
 and Robinsons Land Corp closing up about 2
percent and 2.7 percent, respectively. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3350.28   3362.43         -0.36
 Bangkok            1673.32   1673.43         -0.01
 Manila             7894.45   7846.99         0.60
 Jakarta            6372.787  6447.885        -1.16
 Kuala Lumpur       1635.68   1638.01         -0.14
 Ho Chi Minh        974.13    976.92          -0.29
                                              
 Change on year                               
 Market             Current   End 2018        Pct Move
 Singapore          3350.28   3068.76         9.17
 Bangkok            1673.32   1563.88         7.00
 Manila             7894.45   7466.02         5.74
 Jakarta            6372.787  6194.498        2.88
 Kuala Lumpur       1635.68   1690.58         -3.25
 Ho Chi Minh        974.13    892.54          9.14
 
 (Reporting by Ambar Warrick in Bengaluru; Editing by Rashmi
Aich)
  
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