SE Asia Stocks-Philippines rises on monetary easing promise; others decline

* Philippine stocks hit near 4-mth high * Singapore shares fall to lowest since Jan 8 * Malaysia down; April exports +1.1% y/y vs -1% forecast By Niyati Shetty June 3 (Reuters) - Philippine shares climbed for the fifth straight session on Monday after the central bank governor's promise of further policy easing on Friday, while other Southeast Asian equities declined due to heightened Sino-U.S. tensions over the weekend. Governor Benjamin Diokno of Bangko Sentral ng Pilipinas on Friday said in an interview https://www.bloomberg.com/news/articles/2019-05-31/philippine-central-bank-governor-promises-more-rate-cuts with Bloomberg TV that there was more room for monetary easing, promising further rate cuts and lower reserve requirement for banks to support the economy. Last month, after trimming its key interest rate, the central bank said it would also cut the amount of cash that banks must hold as reserves to help boost liquidity as economic growth slows. The Manila index rose as much as 1.6% to a near 4-month high, boosted by the real estate sector. Property developers Ayala Land Inc and SM Prime Holdings Inc added 6.1% and 1.8%, respectively. DBS Bank analysts said they favoured markets like Philippines, which were domestic demand oriented, had the flexibility for policy stimulus and where valuations were attractive enough to cushion the downside of trade risks. Meanwhile, risk sentiment was on the downside in other regional stock markets as the United States and China clashed again over trade and security. While the world's biggest economies accused each other of destabilising the Asian region, a senior Chinese official and trade negotiator said on Sunday the United States cannot use pressure to force a trade deal on China. "The series of actions over the weekend means that China's "long march" has begun. We take this seriously. It means that the trade war has not only become a technology war but also a broad-based business war," said Iris Pang, an economist at ING, in a note. The Singapore index lost 0.4%, hitting its lowest in nearly five months. Lender DBS Group Holdings Ltd slipped 1.2% and conglomerate Jardine Matheson Holdings Ltd declined 0.7%. Vietnam shares fell up to 1.3%, dragged by financials and real estate stocks. Joint Stock Commercial Bank for Foreign Trade of Viet Nam lost 4.8% and Vinhomes JSC fell 2.9%. The Malaysian index declined 0.3% even as government data on Monday showed exports rose unexpectedly in April after two consecutive months of decline, helped by higher exports of manufactured goods. Exports rose 1.1% in April from a year earlier, above the 1% decline forecast in a Reuters poll. Thai financial markets were closed on Monday due to holidays, while Indonesia is closed for the week. For Asian Companies, click: SOUTHEAST ASIAN STOCK MARKETS AS AT 0406 GMT Market Current Previous close Pct Move Singapore 3111.92 3117.76 -0.19 Manila 8085.32 7970.02 1.45 Kuala Lumpur 1645.72 1650.76 -0.31 Ho Chi Minh 952.71 959.88 -0.75 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3111.92 3068.76 1.41 Manila 8085.32 7,466.02 8.29 Kuala Lumpur 1645.72 1690.58 -2.65 Ho Chi Minh 952.71 892.54 6.74 (Reporting by Niyati Shetty in Bengaluru; editing by Gopakumar Warrier)