SE Asia Stocks-Indonesia gains for 5th straight session, Malaysia down over 1 pct

Reuters
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* Indonesia shares end 1.6 pct higher ahead of cbank meeting

* Malaysian index falls over 1 pct

* Vietnam shares down for 7 sessions in 9

May 28 (Reuters) - Indonesian shares ended 1.6

percent higher on Monday, ahead of a central bank meeting where

it is expected to raise rates for the second time in two weeks,

while Malaysia fell more than 1 percent on weak corporate

results.

Bank Indonesia raised its benchmark interest rate

on May 17 for the first time since November 2014 in

a bid to bolster the fragile rupiah and stem capital

outflows, with the bank saying it would take more actions to

support the currency.

Southeast Asia's biggest economy, alongside other emerging

markets, has seen an outflow of funds as U.S. assets become more

attractive due to rising interest rates.

The Indonesian index gained for a fifth straight session,

with Bank Negara Indonesia up 7.5 percent and Bank

Mandiri closing 5.4 percent higher.

Malaysian shares were dragged down by Malayan

Banking Bhd that closed 2 percent lower after the

country's largest lender said allowance for impaired loans and

financing in full-year 2018 were expected to be higher than the

previous year.

Tenaga Nasional, IHH Healthcare and Sime

Darby Bhd also weighed on the index, following

disappointing earnings.

The Vietnam index slumped 3.3 percent to close lower

for a third straight session. The benchmark index has lost 20.7

percent so far this quarter, reversing gains of around 20

percent each in the previous two quarters.

Petrovietnam Gas Joint Stock Corp fell nearly 7

percent, while Joint Stock Commercial Bank for Foreign Trade of

Viet Nam lost 6.4 percent.

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SOUTHEAST ASIAN STOCK MARKETS: Change on day

STOCK MARKETS

Current Previous Close Pct Move

Singapore 3518.48 3513.23 0.15

Bangkok 1734.79 1741.21 -0.37

Manila 7642.9 7647.51 -0.06

Jakarta 6068.325 5975.742 1.55

Kuala Lumpur 1775.84 1797.4 -1.20

Ho Chi Minh 931.75 963.9 -3.34

Change on year

Market Current End 2017 Pct Move

Singapore 3518.48 3402.92 3.40

Bangkok 1734.79 1753.71 -1.08

Manila 7642.9 8558.42 -10.70

Jakarta 6068.325 6355.654 -4.52

Kuala Lumpur 1775.84 1796.81 -1.17

Ho Chi Minh 931.75 984.24 -5.33

(Reporting by Nicole Pinto; Editing by Biju Dwarakanath)

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