October 9, 2018 / 10:31 AM / 7 months ago

SE Asia Stocks-Philippines snaps 3-day losing streak; Singapore extends losses

    * Singapore falls for 4th session 
    * Thai shares gain after 5 sessions of losses

    By Niyati Shetty
    Oct 9 (Reuters) - Philippine shares snapped a three-day
losing streak on Tuesday, while Singapore fell for a fourth
straight session on caution ahead of a central bank meeting on
Friday in which it is expected to slightly tighten the monetary
    Sentiment was subdued in the region after the International
Monetary Fund cut global growth forecasts for 2018 and 2019 and
downgraded the outlook for the U.S. and China, citing trade
policy tensions.    
    Rising U.S. Treasury yields also capped gains in equities,
with nagging concerns over growth prospects affecting Chinese
stocks despite Beijing's steps to support the economy and
contain the effects of an escalating trade war.
    Philippine shares ended higher, helped by the real
estate and industrials sectors, with Ayala Land gaining
1.8 percent and SM Investments Corp adding 1.6 percent. 
    "The market was due for a bounce given the continued
decline, which has already put most of the blue-chip stocks at
attractive prices," said Manny Cruz, an analyst at Asiasec
Equities Inc. 
    Singapore's FTSE Straits Times Index ended 0.5
percent lower, with Consumer shares dragging the city-state's
index lower. Thai Beverage PCL fell 3.9 percent while
DBS Group Holdings declined 0.8 percent. 
    Leading gains in the region, Indonesian shares rose
for a second straight day, up 0.6 percent, as financials and
telecommunication shares boosted the index. 
    Telekomunikasi Indonesia rose 2 percent while Bank
Central Asia closed 1.3 percent higher.
    Elsewhere, Thai shares closed marginally higher
after five straight sessions of losses. Energy stocks PTT
Exploration and Production and PTT PCL rose
2.1 percent and 0.5 percent, respectively. 
    Vietnam shares closed marginally higher, while the
Malaysian index extended losses into a fifth session,
falling 0.09 percent. 
For Asian Companies click;  

 Change on the day                           
 Market             Current  Previous close  Pct Move
 Singapore          3166.6   3181.45         -0.47
 Bangkok            1696.92  1696.22         0.04
 Manila             7059.38  7050.82         0.12
 Jakarta            5796.79  5761.073        0.62
 Kuala Lumpur       1774.15  1775.75         -0.09
 Ho Chi Minh        996.19   996.12          0.01
 Change on year                              
 Market             Current  End 2017        Pct Move
 Singapore          3166.6   3402.92         -6.94
 Bangkok            1696.92  1753.71         -3.24
 Manila             7059.38  8558.42         -17.52
 Jakarta            5796.79  6355.654        -8.79
 Kuala Lumpur       1774.15  1796.81         -1.26
 Ho Chi Minh        996.19   984.24          1.21
 (Reporting by Niyati Shetty in Bengaluru; Editing by Vyas
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