* Thai April manufacturing output rises
* Sino-U.S. trade tensions weigh
* Indonesia set to snap three sessions of gains
By Shreya Mariam Job
May 28 (Reuters) - Thai stocks rose on Tuesday and were one
of the top gainers in the Southeast Asian pack after its April
factory output reported a surprise jump, while Singapore shares
fell, dragged by financials.
Thailand's SET Index .SETI gained as much as 0.5% after
its manufacturing production index (MPI) in April rose 2.03%
from a year earlier, led by higher production of cars and air
conditioners compared to a forecast fall of 1.0% in a Reuters
poll. Shares of PTT PCL PTT.BK and PTT Global Chemical PCL
PTTGC.BK firmed 1.1% and 4.1%, respectively.
Philippine .PSI and Malaysian .KLSE stocks gained 0.3%
and 0.5%, respectively.
Meanwhile, continuing trade tension between the U.S. and
China kept investors in most other regional markets on the
sidelines.
"Market players continue to tread water and await further
cues on the trade front as President Trump downplays the
likelihood of a deal with China anytime soon," a note from ING
said.
U.S. President Donald Trump told at a news conference that
Washington was not ready to make a deal with Beijing, but he
expected one in the future. However, China's chief financial regulator on Monday said
that a trade war with the United States has had a limited impact
on China's financial markets and its effects will be "even
smaller" in the future, slightly offseting growing concerns with
regard to the escalating trade war. Singapore stocks .STI fell 0.2%, with financials dragging
the index.
Shares of DBS Group Holdings Ltd DBSM.SI dropped as much
as 1% to a more-than-two-month low, while United Overseas Bank
Ltd UOBH.SI slid as much as 1.1%.
Financial stocks also dragged the Indonesian benchmark stock
index .JKSE marginally lower, on track to snap three
consecutive sessions of gains, with Bank Negara Indonesia Tbk Pt
BBNI.JK and Bank Mandiri Tbk Pt BMRI.JK shedding 3.5% and
1.3%, respectively.
Vietnam shares .VNI too were dragged by financials and
consumer staples.
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SOUTHEAST ASIAN STOCK MARKETS As at 0428 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3164.56 3170.77 -0.20
Bangkok 1628.76 1624.84 0.24
Manila 7747.66 7725.01 0.29
Jakarta 6086.396 6098.974 -0.21
Kuala Lumpur 1609.2 1601.35 0.49
Ho Chi Minh 971.56 975.14 -0.37
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3164.56 3068.76 3.12
Bangkok 1628.76 1563.88 4.15
Manila 7747.66 7,466.02 3.77
Jakarta 6086.396 6,194.50 -1.75
Kuala Lumpur 1609.2 1690.58 -4.81
Ho Chi Minh 971.56 892.54 8.85