* Vietnam hits over 1-month low
* Philippine index scales 1-week high
By Sumeet Gaikwad
July 2 (Reuters) - Most Southeast Asian stock markets fell
on Monday on caution ahead of a raft of economic data this week,
while sentiment remained weak as the July 6 deadline when the
U.S. is due to impose US$34 billion of tariffs on Chinese
exports is fast approaching.
Asian shares excluding Japan were about 0.4
percent lower, after losing 2 percent last week, as trade
concerns clouded the outlook for Chinese growth.
In regional markets, Vietnam's Ho-Chi-Minh index
declined as much as 2.4 percent despite strong June
manufacturing figures, as financials and real estate stocks
weighed on the benchmark.
Vietcombank and Vinhomes JSC's down 3.3
percent and 1.3 percent, respectively, were the biggest drag on
the index.
Indonesia's benchmark index rose as gains in energy
and financial stocks outweighed losses in materials and consumer
staples.
Financials got a fillip after the country's central bank on
Friday raised its benchmark rate by twice as much as the market
expected on Friday in a bid to defend the rupiah.
"Last Friday's move was unexpected and is a very strong
message that the central bank is unwilling to tolerate further
weakness of the rupiah," said Taye Shim, head of research at
Jakarta-based Mirae Asset Sekuritas.
However, investors will keep a close eye on inflation data
due later in the day, he added.
According to a Reuters poll, Indonesia's annual inflation
rate in June is seen slowing at 2.88 percent compared with 3.23
percent a month earlier.
Energy stocks dragged the Thai benchmark index 0.2
percent lower after oil prices fell by more than one percent on
Monday on rising supplies in Saudi Arabia.
Oil and Gas explorer PTT Pcl was 0.5 percent lower
while its unit PTT Exploration and Production Pcl
fell 4.6 percent.
Data from the country's commerce ministry showed headline
inflation rose 1.38 percent in June, albeit at a slower pace.
Singapore stocks fell 0.7 percent dragged by financials and
industrials, with lender Oversea-Chinese Banking Corporation
, down more than 1 percent, leading the losses.
Philippine shares rose, led by industrials and
telecom stocks. Ayala Land rose 1.5 percent and SM
Investments Corp added 2.2 percent.
The archipelago is due to release its core inflation data on
Thursday.
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE AS AT 0430 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3247.47 3268.7 -0.65
Bangkok 1592.77 1595.58 -0.18
Manila 7219.99 7193.68 0.37
Jakarta 5816.394 5799.237 0.30
Kuala Lumpur 1683.38 1691.5 -0.48
Ho Chi Minh 939.91 960.78 -2.17
Change on year
Market Current End 2017 Pct Move
Singapore 3247.47 3402.92 -4.57
Bangkok 1592.77 1753.71 -9.18
Manila 7219.99 8558.42 -15.64
Jakarta 5816.394 6355.654 -8.48
Kuala Lumpur 1683.38 1796.81 -6.31
Ho Chi Minh 939.91 984.24 -4.50
(Reporting by Sumeet Gaikwad in Bengaluru; Editing by Vyas
Mohan)
