* Indonesia election results due Wednesday
* Vietnam shares hit over 1-mth closing high
By Niyati Shetty
May 20 (Reuters) - Indonesian shares rose on Monday as
investors bought beaten-down stocks after five sessions of
falls, while Philippine shares closed higher for a second
straight day.
Broader Asia managed to reverse some of last week's heavy
losses as investors cheered apparent wins by Conservative
incumbent parties in elections in Australia and India.
MKTS/GLOB
But Chinese equities extended losses as trade tensions with
the United States dragged on, with Beijing last week suggesting
that a resumption of talks to end the dispute was unlikely to
happen. Meanwhile, U.S. President Donald Trump said his tariffs on
Chinese goods were causing companies to move production out of
China to Vietnam and other countries in Asia. The key Jakarta stock index .JKSE closed 1.4% higher after
declining more than 6% in the previous five sessions.
Financials led the recovery with Bank Central Asia Tbk PT
BBCA.JK rising 3.9%. Among other gainers, PT Telekomunikasi
Indonesia (Persero) Tbk TLKM.JK advanced 2.6% and PT Astra
International Tbk ASII.JK added 3%.
Investors now await the General Election Commission's
announcement of presidential election results on Wednesday,
which is expected to confirm unofficial counts that showed
incumbent President Joko Widodo winning a second term.
Philippine shares .PSI advanced 1%, with index
heavyweights Aboitiz Equity Ventures Inc AEV.PS and Ayala Land
Inc ALI.PS climbing 4.6% and 1.6%, respectively.
Vietnam shares .VNI rose 1.1% to their highest close since
April 9, supported by consumer staples and financials.
Saigon Beer Alcohol Beverage Corp SAB.HM added 2.3%, while
Joint Stock Commercial Bank for Foreign Trade of Viet Nam
VCB.HM gained 1.5%.
Financial markets in Singapore, Thailand and Malaysia were
closed for holidays.
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SOUTHEAST ASIAN STOCK MARKETS
Market Current Previous close Pct Move
Manila 7660.14 7583.82 1.01
Jakarta 5907.121 5826.868 1.38
Ho Chi Minh 987.13 976.48 1.09
Change so far in 2019
Market Current End 2018 Pct Move
Manila 7660.14 7,466.02 2.60
Jakarta 5907.121 6,194.50 -4.64
Ho Chi Minh 987.13 892.54 10.60