REFILE-SE Asia Stocks-Philippine eases off 16-mth high; Singapore up ahead of trade data (July 16)
(In July 16 item, corrects day in paragraph 1 to Tuesday from Monday) * Philippine index falls 1.22% * Vietnam index gains 1% * Thailand closed for holiday By Niyati Shetty July 16 (Reuters) - Philippine shares fell from a 16-month peak on Tuesday as investors booked profits after previous session's significant gains, while Singapore stocks rose ahead of key export data. The Philippine index reversed course and lost 1.2%, after extending gains earlier in the day to highest since March last year. The index added 2.7% on Monday in "anticipation of better corporate earnings, indication of a policy rate cut and lower bond yield," said Miguel Ong, research analyst at AP Securities in Manila. "Today's (Tuesday) losses are more of a healthy collection." Lender BDO Unibank Inc dropped 5.1% and conglomerate SM Investments Corp was 1.7% down. Meanwhile, the Singapore index closed 0.4% higher ahead of non-oil export figures due on Wednesday, which will be closely watched for any further signs of weakness in the export-reliant economy. Heavyweights DBS Group Holdings Ltd and Jardine Strategic Holdings Ltd gained 0.5% and 1.1%, respectively. Expectations of the central bank easing policy at its semi-annual meeting in October increased after data showed the economy grow just 0.1% in second-quarter, its slowest pace in a decade. The International Monetary Fund on Tuesday trimmed Singapore's 2019 economic growth forecast to 2% from 2.3% as global trade tensions hit exports from the city-state. Vietnam stocks closed up 1% buoyed by real estate and financial stocks. Vinhomes JSC added 2.3%, while Vietcombank rose 2.9% and was the best performer in the index. The bank's first-half pretax profit jumped 40.7% from a year ago. Indonesian shares fell 0.3% dragged by financials and communication services sectors. Bank Mandiri and Telekomunikasi Indonesia each lost 0.9%. The fall is caused partly by rotation into government bonds following Tuesday's auction, said Anugerah Zamzami Nasr, Equity Research Analyst at PT Phillip Sekuritas Indonesia. Indonesia raised 22.05 trillion rupiah ($1.58 billion) in a bond auction on Tuesday, higher than the indicative target of 15 trillion rupiah. Malaysian stocks also ended lower, with mobile service provider Digi.com declining 1.4%. The firm's largest shareholder Norway's Telenor flagged lower earnings due to problems at some of its Asian operations. Thai financial markets were closed for a holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Market Current Previous close Pct Move Singapore 3360.03 3347.95 0.36 Manila 8263.57 8365.29 -1.22 Jakarta 6401.88 6418.234 -0.25 Kuala Lumpur 1668.94 1672.37 -0.21 Ho Chi Minh 982.11 972.53 0.99 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3360.03 3068.76 9.49 Manila 8263.57 7,466.02 10.68 Jakarta 6401.88 6,194.50 3.35 Kuala Lumpur 1668.94 1690.58 -1.28 Ho Chi Minh 982.11 892.54 10.04 ($1 = 13,930.0000 rupiah) (Reporting by Niyati Shetty in Bengaluru; editing by Gopakumar Warrier)
