SE Asia Stocks-Most edge higher in light trade, Singapore near 2-month low

Golden Agri-Resources

27/05/2019 05:16

* Singapore shares near 2-month low 
    * U.S. markets closed for a public holiday
    * Thai market up as political uncertainty may be at an end

    May 27 (Reuters) - Singapore shares hovered near two-month
lows on Monday as investors stayed wary of the uncertain outcome
of U.S.-China trade tensions, while an absence of cues from U.S.
markets closed for a public holiday saw light trade in other
markets in Southeast Asia.     
    After closing higher on Friday, Singapore stocks  .STI  fell
once again, with Hutchison Port Holdings Trust  HPHT.SI  leading
the declines. 
    The city-state was down as much as 0.4%, widening what will
be its worst month since October last year. 
    Investors are expecting quiet trading conditions, but will
be monitoring news wires closely as geo-politics and trade
concerns continue to remain relevant, said Nick Twidale, chief
operating officer at Rakuten Securities Australia in a daily
morning note.
    Golden Agri-Resources Ltd  GAGR.SI  and Singapore Press
Holdings Ltd  SPRM.SI  were among the biggest drags, falling
1.8% and 1.3%, respectively.
    Philippine shares  .PSI  fell as much as 0.6%, with
heavyweight PLDT Inc  TEL.PS  the biggest drag. The
telecommunications firm was down as much as 3.9%, its biggest
drop in about eight weeks.
    Fio Dejesus, an equity research analyst at RCBC Securities,
said foreign outflows could lead markets going forward, as
investors factor in ensuing trade uncertainty and the end of the
earnings season. 
    The Philippine peso  PHP=  was 0.1% weaker compared with
broad appreciation across units in the region. 
    Elsewhere markets all edged higher, while Indonesian shares
 .JKSE  were up as much as 0.7% to a near two-week high. It
remained on track for a third straight session of gains. 
    Financials in the country led the gains, with Bank Central
Asia TBK PT  BBCA.JK  and Bank Rakyat Indonesia (Persero) TBK PT
 BBRI.JK  up 0.8% and 2.1%, respectively. 
    Thai shares  .SETI  gained 0.1% in early trade as a pro-army
party hopes to seal a deal on Monday end opposition hopes of
keeping the military out of politics.  urn:newsml:reuters.com:*:nL4N2320B9
    Energy and financial stocks raked in much of the gains with
PTT PCL  PTT.BK  being among the biggest boosts, up 0.6%. 
    
    
For Asian Companies click;  urn:newsml:reuters.com:*:nTOPEQA  

SOUTHEAST ASIAN STOCK MARKETS AT 0323 GMT 
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3161.76   3169.89         -0.26
 Bangkok                1616.01   1614.12         0.12
 Manila                 7712.4    7747.09         -0.45
 Jakarta                6097.829  6057.353        0.67
 Kuala Lumpur           1599.13   1598.32         0.05
 Ho Chi Minh            972.7     970.03          0.28
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3161.76   3068.76         3.03
 Bangkok                1616.01   1563.88         3.33
 Manila                 7712.4    7,466.02        3.30
 Jakarta                6097.829  6,194.50        -1.56
 Kuala Lumpur           1599.13   1690.58         -5.41
 Ho Chi Minh            972.7     892.54          8.98
    

 (Reporting by Nikhil Kurian Nainan, additional reporting by
Rashmi Ashok; editing by Uttaresh.V)
 ((NikhilKurian.Nainan@thomsonreuters.com; +91 806 749 1637;
Reuters Messaging:
nikhilkurian.nainan.thomsonreuters.com@reuters.net; Twitter:
@NikhilKurianN))