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SE Asia Stocks-Widodo win boosts Indonesia; Singapore falls on growth worries

* Indonesia rises up to 1.5% * Singapore Q1 GDP hits decade low, cuts 2019 growth outlook * Thai Q1 GDP +2.8% y/y, slowest in over 4 years By Niyati Shetty May 21 (Reuters) - Indonesian shares extended gains on Tuesday as official counts, released earlier than scheduled, confirmed the re-election of incumbent President Joko Widodo, while the Singapore index declined after the country cut its 2019 growth outlook. Indonesian equities rose as much as 1.5% after the election commission confirmed unofficial counts, giving President Widodo, popularly known as Jokowi, a comfortable win over ex-general Prabowo Subianto. The early results could, however, trigger a legal challenge and potential street protests after the opposition claimed widespread cheating. Taye Shim, Head of Research at Mirae Asset Sekuritas said a fundamental question that investors are asking is whether President Jokowi can deliver reforms during his next five years. "President Jokowi has a proven track record of delivering reforms and at the same time managing politics." Financials and material stocks supported the Jakarta index, with Bank Central Asia Tbk PT adding 2.1%, and PT Indocement Tunggal Prakarsa Tbk gaining 6.2%. Singapore stocks declined up to 0.5% after the island cut its full year growth forecast on Tuesday as official data showed annual economic growth in the first quarter slipped to the lowest in nearly a decade. Gross domestic product expanded 1.2% year-on-year in the first three months of 2019, below the 1.5% forecast by a Reuters poll, as manufacturing contracted due to the protracted Sino-U.S. tariff war. Conglomerate Jardine Matheson Holdings Ltd lost as much as 1.9% and lender DBS Group Holdings Ltd slipped 0.9%. Adding to the region's growth worries, Thailand data also showed the trade-reliant economy grew at its slowest annual pace in more than four years in the first quarter, mainly due to softer exports. However, Mizuho Bank said in a note that it "sees a gradual pick-up on the back of incoming stimulus and the start of a series of mega infrastructure projects." The Thai bourse gained 0.5% despite the disappointing data, with oil & gas firm PTT PCL rising 0.5%, and Airports of Thailand PCL adding 0.4%. Meanwhile, other markets in the region rose as investors took a breather from last week's sell-off. "Emerging market has been hurt a lot compared to other markets and I would suspect that this is only a technical rebound," said Shim. "At the end of the day this is a very fragile recovery." The Philippine index climbed up to 1%, while Malaysian equities added 0.6%. Vietnam stocks gained for an eighth straight session, buoyed by financial and real estate sectors. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0404 GMT Market Current Previous close Pct Move Singapore 3193.33 3205.46 -0.38 Bangkok 1611.01 1608.11 0.18 Manila 7728.26 7660.14 0.89 Jakarta 5980.237 5907.121 1.24 Kuala Lumpur 1610.66 1605.36 0.33 Ho Chi Minh 990.74 987.13 0.37 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3193.33 3068.76 4.06 Bangkok 1611.01 1563.88 3.01 Manila 7728.26 7,466.02 3.51 Jakarta 5980.237 6,194.50 -3.46 Kuala Lumpur 1610.66 1690.58 -4.73 Ho Chi Minh 990.74 892.54 11.00 (Reporting by Niyati Shetty in Bengaluru; editing by Uttaresh.V)