* Philippines snaps three sessions of losses
* Malaysia rises to a 1-week high
* Indonesia falls over 1%
By Shreya Mariam Job
May 28 (Reuters) - Indonesia shares dropped over 1% on
Tuesday, making them the top losers in Southeast Asia as
political unrest continued, while strong corporate results
boosted Malaysian stocks.
The Indonesian benchmark stock index .JKSE snapped three
sessions of gains, dragged by financial and telecom sectors.
Shares of Bank Negara Indonesia Tbk Pt BBNI.JK shed as
much as 6.9% to its lowest level since May 20, while
Telekomunikasi Indonesia TLKM.JK fell 3.4%.
An Indonesian police spokesman on Monday said that the
police had arrested six people suspected of plotting to
assassinate four state officials during a wave of civil unrest
in Jakarta last week. Meanwhile, Malaysian stocks rallied to a one-week high,
surging around 0.8%.
State utility company Tenaga Nasional Bhd TENA.KL gained
2.6% after posting a near 8% rise in quarterly revenue.
Shares of AMMB Holdings Bhd AMMB.KL rose 2.8% after
declaring a dividend of 15 sen per share and posting a 33% rise
in its full-year net profit after tax and minority interests
(PATMI) to 1,505.3 million Malaysian ringgit ($359.73 million).
Philippine and Thai indices were among the other gainers.
The Philippine Stock Exchange index .PSI snapped three
sessions of losses to rise 0.5% on the back of real estate
stocks. SM Prime Holdings Inc SMPH.PS and Ayala Land Inc
ALI.PS climbed 2.2% and 1.2%, respectively.
Meanwhile, Thai stocks .SETI pared some of its gains from
earlier in the session to end the day 0.4% higher.
Rest of the markets in the region traded slightly lower as
investors awaited further developments on the U.S.-China trade
front.
"The trade truce which was in play since the turn of the
year has devolved into a waiting game where everyone waits to
see who blinks first," a note from Maybank 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 dampening investor sentiment.
Singapore stocks .STI edged marginally lower, while
Vietnam stocks .VNI dipped 0.3%.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3165.32 3170.77 -0.17
Bangkok 1632.04 1624.84 0.44
Manila 7761.29 7725.01 0.47
Jakarta 6033.142 6098.974 -1.08
Kuala Lumpur 1614.57 1601.35 0.83
Ho Chi Minh 972 975.14 -0.32
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3165.32 3068.76 3.15
Bangkok 1632.04 1563.88 4.36
Manila 7761.29 7,466.02 3.95
Jakarta 6033.142 6,194.50 -2.60
Kuala Lumpur 1614.57 1690.58 -4.50
Ho Chi Minh 972 892.54 8.90
($1 = 4.1845 ringgit)