SE Asia Stocks-Indonesia falls most on high oil prices, trade-talk woes

By Shreya Mariam Job

By Shreya Mariam Job June 24 (Reuters) - Indonesia led declines among Southeast Asian stock markets on Monday, as investors were wary due to rising oil prices and uncertainties ahead of fresh round of Sino-U.S. trade talks, while Vietnam rose buoyed by financial and real estate stocks. Oil prices rose on Monday, extending vast gains last week prompted by tensions between Iran and the United States, as Washington was set to announce new sanctions on Tehran. On the other hand, investors are hoping for signs of a thaw in the prolonged trade war with the leaders of U.S. and China expected to meet at this week's G20 summit in Japan. Indonesian stocks dropped 0.4% leading declines in the region with telecom and material stocks dragging the index. Shares of Telekomunikasi Indonesia shed 1.5%, while Unilever Indonesia Tbk Pt shed 1.4%. The country's foreign trade surprisingly swung back to a surplus in May, against market expectations of a $1.38 billion deficit. However, oil and gas deficit was still rather elevated in May, according to an OCBC note. "In our view, we see that this May trade surplus does help to further strengthen the opportunity for Bank Indonesia (BI) to cut the benchmark rate soon in 3Q 2019 possibly by 25bps," the note added. Singapore's benchmark stock index dropped 0.3% dragged by industrials and financials. Singapore's all-items inflation picked up slightly in May and was higher than expected due to increased transport costs, data showed on Monday. Investors snapped up profits among financial stocks with United Overseas Bank Ltd shedding 1.8% and snapping 11 straight sessions of gains, and shares of Oversea-Chinese Banking Corp Ltd losing 0.6% after six consecutive sessions of gains. Meanwhile, Jardine Matheson Holdings Ltd shed 0.6%. Telecom stocks dragged the Malaysian benchmark 0.4% lower with Axiata group Bhd and Maxis Bhd shedding 1.2% and 1%, respectively. Meanwhile, Vietnam's index rose 0.4% with gains concentrated among financial and real estate stocks. Joint Stock Commercial bank for foreign trade of Viet Nam gained 2.8%, while Vingroup JSC rose 1.7%. Thai and Philippine indexes traded relatively flat. Thailand's annual manufacturing output in May probably eased slightly after unexpectedly rising in the previous month, a Reuters poll showed with data expected to be released on Tuesday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3311.53 3321.4 -0.30 Bangkok 1716 1717.14 -0.07 Manila 8060.58 8055.47 0.06 Jakarta 6288.465 6315.436 -0.43 Kuala Lumpur 1676.13 1682.23 -0.36 Ho Chi Minh 962.85 959.2 0.38 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3311.53 3068.76 7.91 Bangkok 1716 1563.88 9.73 Manila 8060.58 7,466.02 7.96 Jakarta 6288.465 6,194.50 1.52 Kuala Lumpur 1676.13 1690.58 -0.85 Ho Chi Minh 962.85 892.54 7.88 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Rashmi Aich)