Most rise; Philippines rebounds after 7 losing sessions

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(June 25): Most Southeast Asian stock markets rose on Monday, with the Philippines bouncing back after a seven-session losing streak, while Singapore fell to its lowest in more than eight-and-a-half months.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2%, after a Wall Street Journal report that U.S. President Donald Trump planned to bar many Chinese companies from investing in U.S. technology firms and block additional technology exports to China.

Philippine shares surged as much as 2.5% in early trade, marking their biggest intraday percentage gain since late-March. 

Industrial and real estate stocks were the best performers on the index, with SM Investments Corp rising 1% and SM Prime Holdings Inc up 2.1%.

Vietnam shares also rose, building on Friday's gains, as financials and real estate stocks led the charge.

Vietnam Joint Stock Commercial Bank for Industry and Trade rose about 2.5%, while property developer Vinhomes JSC climbed about 1%.

Indonesian shares edged up about 0.4%, led by consumer discretionary and real estate stocks.

Indonesia's trade deficit is seen narrowing in May due to a slowdown in imports, a Reuters poll showed. The country, which is a large exporter of raw materials, is also expected to post an increase in its May exports, with data due later in the day.

The index of the country's 45 most liquid stocks rose about 0.2%.

Meanwhile, Singapore shares fell to their lowest since October, set to extend losses into a third straight session, with lenders DBS Group and Oversea-Chinese Banking Corp losing more than 1% each.

Inflation rate in the island state is expected to have inched up in May from the previous month, a Reuters poll showed.

The country, which is due to report its May inflation figures later in the day, has been struggling with lukewarm inflation stemming from subdued domestic demand.

"Before one starts to feel jittery about the return of negative inflation, it pays to note that factors weighing down on inflation are largely domestic, while external price pressure is brewing," DBS said in a research note.

"Expect inflation to start heading higher from 2H18 onwards."

SOUTHEAST ASIAN STOCK MARKETS

Change on the day

Market Current Previous close Pct Move
Singapore 3266.43 3287.4 -0.64
Bangkok 1644.62 1634.98 0.59
Manila 7133.25 7063.2 0.99
Jakarta 5843.905 5821.812 0.38
Kuala Lumpur 1693.82 1694.15 -0.02
Ho Chi Minh 991.52 983.17 0.85

Change in 2018

Market Current End 2017 Pct Move
Singapore 3266.43 3402.92 -4.01
Bangkok 1644.62 1753.71 -6.22
Manila 7133.25 8558.42 -16.65
Jakarta 5843.905 6355.654 -8.05
Kuala Lumpur 1693.82 1796.81 -5.73
Ho Chi Minh 991.52 984.24 0.74