* Philippines on track for fourth straight gain
* Singapore real estate co CapitaLand surges
* Malaysia April factory output beats forecast
By Shreya Mariam Job
June 11 (Reuters) - Singapore stocks rose on Tuesday, taking
cues from broader Asian markets, while Indonesia slipped from a
more than one-month high hit in the previous session with
consumer stocks weighing on the index.
Optimism following the U.S.-Mexico trade and migration deal
was dampened by U.S. President Donald Trump's threats to impose
another round of punitive tariffs on Chinese imports if he
cannot make progress in trade talks with Chinese President Xi
Jinping at a Group of 20 summit later this month. Meanwhile, Southeast Asia's biggest trade partner, China,
said on Monday it would allow local governments to use proceeds
from special bonds as capital for major investment projects,
sending the Shanghai Composite index .SSEC 1.9% higher.
Singapore stocks .STI extended gains into a fourth session
on the back of real estate stocks.
CapitaLand Ltd CATL.SI climbed as much as 3% in its
biggest intraday gain in more than two months, after the real
estate company said its unit and associated companies would
divest their interests in three companies that hold three malls
in China for an agreed value of 2.96 billion Chinese yuan
($427.90 million). Philippine shares .PSI gained 0.5%, boosted by real estate
and industrial stocks, and were headed for a fourth consecutive
session of gains.
The country's April exports increased 0.4% from a year
earlier, while imports dipped 1.9%, bringing the trade deficit
to $3.50 billion. Ayala Land Inc ALI.PS and SM Prime Holdings SMPH.PS
gained 0.6% and 1%, respectively.
Meanwhile, Indonesian shares .JKSE dipped 0.2% after
posting their biggest intraday percentage gain in over two years
on Monday.
Consumer stocks were among the top losers with Astra
International Tbk Pt ASII.JK and Unilever Indonesia Tbk Pt
UNVR.JK shedding 2.6% and 1%, respectively.
Malaysian stocks .KLSE edged lower, dragged by financials.
Data released earlier showed that Malaysia's industrial
production index rose 4.0% in April from a year earlier, faster
than the previous month.
April's annual output growth was higher than the 2.7% median
estimate by nine economists surveyed by Reuters. The pace was
faster than March's growth of 3.1%. Fitch Ratings said in a report that while it expected
Malaysian household debt risks to continue to moderate, pockets
of vulnerability remained in banks' exposure to lower-income
households and personal loans. Hong Leong Bank Bhd HLBB.KL dropped as much as 1.7%, while
Malayan Banking Bhd MBBM.KL slipped as much as 0.7%.
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SOUTHEAST ASIAN STOCK MARKETS As at 0410 GMT
Market Current Previous close Pct Move
Singapore 3201.44 3188.11 0.42
Bangkok 1666.19 1664.73 0.09
Manila 8088.12 8045.39 0.53
Jakarta 6278.919 6289.61 -0.17
Kuala Lumpur 1651.79 1655.47 -0.22
Ho Chi Minh 961.59 962.9 -0.14
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3201.44 3068.76 4.32
Bangkok 1666.19 1563.88 6.54
Manila 8088.12 7,466.02 8.33
Jakarta 6278.919 6,194.50 1.36
Kuala Lumpur 1651.79 1690.58 -2.29
Ho Chi Minh 961.59 892.54 7.74
($1 = 6.9175 Chinese yuan)