SE Asia Stocks-Thai gains after strong factory data, Singapore stocks drop
* Thai April manufacturing output rises * Sino-U.S. trade tensions weigh * Indonesia set to snap three sessions of gains By Shreya Mariam Job May 28 (Reuters) - Thai stocks rose on Tuesday and were one of the top gainers in the Southeast Asian pack after its April factory output reported a surprise jump, while Singapore shares fell, dragged by financials. Thailand's SET Index gained as much as 0.5% after its manufacturing production index (MPI) in April rose 2.03% from a year earlier, led by higher production of cars and air conditioners compared to a forecast fall of 1.0% in a Reuters poll. Shares of PTT PCL and PTT Global Chemical PCL firmed 1.1% and 4.1%, respectively. Philippine and Malaysian stocks gained 0.3% and 0.5%, respectively. Meanwhile, continuing trade tension between the U.S. and China kept investors in most other regional markets on the sidelines. "Market players continue to tread water and await further cues on the trade front as President Trump downplays the likelihood of a deal with China anytime soon," a note from ING said. U.S. President Donald Trump told at a news conference that Washington was not ready to make a deal with Beijing, but he expected one in the future. However, China's chief financial regulator on Monday said that a trade war with the United States has had a limited impact on China's financial markets and its effects will be "even smaller" in the future, slightly offseting growing concerns with regard to the escalating trade war. Singapore stocks fell 0.2%, with financials dragging the index. Shares of DBS Group Holdings Ltd dropped as much as 1% to a more-than-two-month low, while United Overseas Bank Ltd slid as much as 1.1%. Financial stocks also dragged the Indonesian benchmark stock index marginally lower, on track to snap three consecutive sessions of gains, with Bank Negara Indonesia Tbk Pt and Bank Mandiri Tbk Pt shedding 3.5% and 1.3%, respectively. Vietnam shares too were dragged by financials and consumer staples. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS As at 0428 GMT Change on the day Market Current Previous close Pct Move Singapore 3164.56 3170.77 -0.20 Bangkok 1628.76 1624.84 0.24 Manila 7747.66 7725.01 0.29 Jakarta 6086.396 6098.974 -0.21 Kuala Lumpur 1609.2 1601.35 0.49 Ho Chi Minh 971.56 975.14 -0.37 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3164.56 3068.76 3.12 Bangkok 1628.76 1563.88 4.15 Manila 7747.66 7,466.02 3.77 Jakarta 6086.396 6,194.50 -1.75 Kuala Lumpur 1609.2 1690.58 -4.81 Ho Chi Minh 971.56 892.54 8.85 (Reporting by Shreya Mariam Job in Bengaluru; editing by Uttaresh.V)
