* Philippines rises for 4th straight session
* Thai shares up; April exports in line with forecast
* Malaysia closed for holiday
By Niyati Shetty
May 22 (Reuters) - Most Southeast Asian stock markets rose
on Wednesday, tracking Wall Street peers, as the United States
temporarily eased restrictions on China's Huawei Technologies Co
Ltd HWT.UL , but persisting trade war concerns capped gains.
The U.S. Commerce Department, late on Monday, granted Huawei
a 90-day license to buy U.S. goods in order to minimize
disruption to customers. "Asian markets may capitalise on the slight improvement in
risk appetite overnight and attempt to reclaim some lost ground
today," OCBC Bank said in a note to its clients.
However, The New York Times reported on Tuesday that the
United States is considering limits to Chinese video
surveillance firm Hikvision's 002415.SZ ability to buy U.S.
technology, showing that tensions still persist. Tensions between the world's largest economies intensified
last week when U.S. Commerce Department added Huawei to a trade
blacklist, prompting several U.S. companies to suspend business
with the world's largest telecom equipment maker.
Singapore equities .STI rose up to 0.5%, supported by
industrial stocks. Index heavyweights Jardine Matheson Holdings
Ltd JARD.SI and Jardine Strategic Holdings Ltd JSH.SI
climbed 3.4% and 2.7%, respectively.
The bourse declined 0.7% in the previous session after
first-quarter economic growth hit a decade low as manufacturing
contracted in the wake of the Sino-U.S. trade war. OCBC in a note on Thursday said, "the recent targeting of
Huawei by the US administration is also contributing to greater
uncertainties and potential ripple effects for the entire
regional manufacturing value-chain."
Philippine stocks .PSI added as much as 0.8% and extended
gains for a fourth straight session, underpinned by financial
and industrial sectors.
Ayala Corp AC.PS gained 5.5% and International Container
Terminal Service Inc ICT.PS rose 2.7%.
The Thai index .SETI advanced as much as 0.8% on Wednesday
as the country's customs cleared exports fell in line with
forecasts. Official data showed exports in April contracted 2.57% from
a year earlier, while imports fell 0.72% from a year ago versus
a Reuters estimate of a 4.6% decline.
Meanwhile, the Jakarta index .JKSE declined on Wednesday
as opposition leader Prabowo Subianto refused to concede defeat
and considered a legal challenge to the presidential election
result.
On Tuesday, the incumbent President Joko Widodo comfortably
won a second term.
Investors are also concerned whether Widodo's government can
carry forward reforms amidst the politically charged
environment.
Financial markets in Malaysia are closed due to a holiday.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS AS AT 0407 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3190.36 3183.26 0.22
Bangkok 1619.6 1610.49 0.57
Manila 7771.36 7721.56 0.64
Jakarta 5940.097 5951.372 -0.19
Ho Chi Minh 990.75 986.29 0.45
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3190.36 3068.76 3.96
Bangkok 1619.6 1563.88 3.56
Manila 7771.36 7,466.02 4.09
Jakarta 5940.097 6,194.50 -4.11
Ho Chi Minh 990.75 892.54 11.00