* Singapore rises ahead of exports data on Wed
* Philippines extends gains to 16-month high
* Thailand closed for holiday
By Niyati Shetty
July 16 (Reuters) - Most Southeast Asian stock markets rose
on Tuesday on expectations of further monetary policy easing by
global central banks, while concerns over palm oil exports to
the European Union weighed on Malaysian shares.
Singapore shares .STI added as much as 0.4% ahead of key
non-oil domestic exports (NODX) data due on Wednesday.
After a vastly weaker-than-expected second-quarter growth
reading last week, investors will watch the island's export data
for any further signs of weakness in the economy. "The sustained deep declines in NODX depressing GDP growth
are bringing the Monetary Authority of Singapore closer to
reducing or even flattening the SGD-NEER appreciation path,
possibly even earlier than the October meeting," ING said in a
note on Friday.
Lender DBS Group Holdings Ltd DBSM.SI advanced 0.7% and
conglomerate Jardine Matheson Holdings Ltd JARD.SI gained
0.4%.
Philippine stocks .PSI extended gains, rising 0.6% to a
16-month high, on rate-cut hopes.
The central bank governor, Benjamin Diokno, said the bank
had greater liberty to ease policy in the third quarter due to
easing inflation and a dovish U.S. Federal Reserve, the
Philippine Star reported https://www.philstar.com/business/2019/07/15/1934695/more-room-cut-rates-q3-benjamin-diokno
on Monday.
Meanwhile, a likely U.S. rate cut by the end of this month
is still under the spotlight, as investors await U.S. retail
sales data due later in the day and more corporate earnings
results to further gauge the health of the economy. MKTS/GLOB
Vietnam shares .VNI rose 0.6%, boosted by financial and
real estate stocks.
Joint Stock Commercial Bank for Foreign Trade of Vietnam
VCB.HM added 2.1%, while Vinhomes JSC VHM.HM gained 0.7%.
Malaysian shares .KLSE declined as much as 0.3%, with palm
oil giant Sime Darby Bhd SIME.KL shedding 0.9%, while Kuala
Lumpur Kepong KLKK.KL lost 0.4%.
The world's second-biggest palm oil producer and exporter
after Indonesia said it would file a complaint to the World
Trade Organisation by November to challenge a move by the
European Union to phase out palm oil from being used in
transport fuels in the bloc. Indonesian shares .JKSE fell 0.3%, dragged by the
financial sector. Insurer PT Sinar Mas Multiartha Tbk SMMA.JK
and lender Bank Mandiri (Persero) Tbk PT BMRI.JK were down 8%
and 1.8%, respectively.
Thai financial markets were closed for a holiday.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS AS AT 0318 GMT
Market Current Previous close Pct Move
Singapore 3357.74 3347.95 0.29
Manila 8416 8365.29 0.61
Jakarta 6401.726 6418.234 -0.26
Kuala Lumpur 1668.93 1672.37 -0.21
Ho Chi Minh 977.94 972.53 0.56
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3357.74 3068.76 9.42
Manila 8416 7,466.02 12.72
Jakarta 6401.726 6,194.50 3.35
Kuala Lumpur 1668.93 1690.58 -1.28
Ho Chi Minh 977.94 892.54 9.57