* Indonesian stocks post biggest monthly loss in 14 months
* Malaysia posts five day winning streak
By Shreya Mariam Job
May 31 (Reuters) - Singapore stocks posted their biggest
monthly loss in more than three years in May, as the escalating
Sino-U.S. trade war hampered investor sentiment, while an
upgrade in credit rating pushed Indonesian shares higher on
Friday.
The FTSE Straits Times Index .STI fell 0.8%, bringing its
monthly loss to 8.3%, as slowing global growth concerns hit risk
appetite.
"Singapore is one of the most exposed countries to any
slowdown in global trade. Our gross trade is 400% of the GDP,"
said Paul Chew, head of research at Singapore-based Phillip
Securities Research.
Financial stocks dragged the index, with DBS Group Holdings
Ltd DBSM.SI shedding 1.3%.
Indonesian stocks .JKSE jumped 1.7% to post its highest
close since May 10. The index closed the week with a gain of
2.5%, but slipped 3.8% during the month, its lowest in 14
months.
Ratings agency S&P raised Indonesia's sovereign credit
rating to 'BBB', citing the country's strong economic growth
prospects and supportive policy dynamics. The upgrade put S&P at
par with the ratings awarded by two other major credit rating
agencies, Fitch and Moody's Shares of Telekomunikasi Indonesia Tbk Pt TLKM.JK and
Astra International Tbk Pt ASII.JK rose 3.2% and 3.5%,
respectively.
In Philippines .PSI , last minute buying helped push the
benchmark to its highest level since early-May. The index was
the only one in the region that posted a monthly gain.
Real estate and industrial stocks bolstered the index, with
Ayala Land Inc ALI.PS firming 2.7%, while conglomerate SM
Prime Holdings Inc SMPH.PS rose 2.1%.
Some analysts say Philippines stands to gain from trade war
as firms looking to avoid hiked tariffs will look to establish
units there.
Malaysian stocks .KLSE pared most of its gains during the
session, but managed to maintain a five-day winning streak.
However, the shares declined 0.2% for May.
Shares of Sime Darby Plantation Bhd SIPL.KL advanced 2.2%
after posting its first quarter results, while state utility
firm Tenaga Nasional Bhd TENA.KL gained 2.4%.
Meanwhile, Thai stocks .SETI marginally, hurt by largely
industrial stocks. For the month, the SET Index fell 3.4%.
Thailand's April exports fell 2.9% from a year earlier,
after falling 4.2% in March, while April imports dropped 0.4%
from a year earlier. Utility and financial stocks dragged the Vietnam index
.VNI 1% lower with Petrovietnam Gas JSC GAS.HM and Vietnam
Dairy Products JSC VNM.HM declining 3.5% and 1.5%,
respectively.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3117.76 3143 -0.80
Bangkok 1620.22 1621.57 -0.08
Manila 7970.02 7836.55 1.70
Jakarta 6209.117 6104.106 1.72
Kuala Lumpur 1650.76 1636.5 0.87
Ho Chi Minh 959.88 969.34 -0.98
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3117.76 3068.76 1.60
Bangkok 1620.22 1563.88 3.60
Manila 7970.02 7,466.02 6.75
Jakarta 6209.117 6,194.50 0.24
Kuala Lumpur 1650.76 1690.58 -2.36
Ho Chi Minh 959.88 892.54 7.54