(In July 16 item, corrects day in paragraph 1 to Tuesday from
Monday)
* Philippine index falls 1.22%
* Vietnam index gains 1%
* Thailand closed for holiday
By Niyati Shetty
July 16 (Reuters) - Philippine shares fell from a 16-month
peak on Tuesday as investors booked profits after previous
session's significant gains, while Singapore stocks rose ahead
of key export data.
The Philippine index .PSI reversed course and lost 1.2%,
after extending gains earlier in the day to highest since March
last year.
The index added 2.7% on Monday in "anticipation of better
corporate earnings, indication of a policy rate cut and lower
bond yield," said Miguel Ong, research analyst at AP Securities
in Manila.
"Today's (Tuesday) losses are more of a healthy collection."
Lender BDO Unibank Inc BDO.PS dropped 5.1% and
conglomerate SM Investments Corp SM.PS was 1.7% down.
Meanwhile, the Singapore index .STI closed 0.4% higher
ahead of non-oil export figures due on Wednesday, which will be
closely watched for any further signs of weakness in the
export-reliant economy.
Heavyweights DBS Group Holdings Ltd DBSM.SI and Jardine
Strategic Holdings Ltd JSH.SI gained 0.5% and 1.1%,
respectively.
Expectations of the central bank easing policy at its
semi-annual meeting in October increased after data showed the
economy grow just 0.1% in second-quarter, its slowest pace in a
decade. The International Monetary Fund on Tuesday trimmed
Singapore's 2019 economic growth forecast to 2% from 2.3% as
global trade tensions hit exports from the city-state.
Vietnam stocks .VNI closed up 1% buoyed by real estate and
financial stocks. Vinhomes JSC VHM.HM added 2.3%, while
Vietcombank VCB.HM rose 2.9% and was the best performer in the
index. The bank's first-half pretax profit jumped 40.7% from a
year ago. Indonesian shares .JKSE fell 0.3% dragged by financials
and communication services sectors. Bank Mandiri BMRI.JK and
Telekomunikasi Indonesia TLKM.JK each lost 0.9%.
The fall is caused partly by rotation into government bonds
following Tuesday's auction, said Anugerah Zamzami Nasr, Equity
Research Analyst at PT Phillip Sekuritas Indonesia.
Indonesia raised 22.05 trillion rupiah ($1.58 billion) in a
bond auction on Tuesday, higher than the indicative target of 15
trillion rupiah. Malaysian stocks .KLSE also ended lower, with mobile
service provider Digi.com DSOM.KL declining 1.4%. The firm's
largest shareholder Norway's Telenor TEL.OL flagged lower
earnings due to problems at some of its Asian operations.
Thai financial markets were closed for a holiday.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Market Current Previous close Pct Move
Singapore 3360.03 3347.95 0.36
Manila 8263.57 8365.29 -1.22
Jakarta 6401.88 6418.234 -0.25
Kuala Lumpur 1668.94 1672.37 -0.21
Ho Chi Minh 982.11 972.53 0.99
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3360.03 3068.76 9.49
Manila 8263.57 7,466.02 10.68
Jakarta 6401.88 6,194.50 3.35
Kuala Lumpur 1668.94 1690.58 -1.28
Ho Chi Minh 982.11 892.54 10.04
($1 = 13,930.0000 rupiah)