* Philippines notches up 4.5 pct gain over 5 sessions
* Malaysian stocks end lower amid caution ahead of budget
By Rashmi Ashok
Oct 22 (Reuters) - Philippine shares surged on Monday,
extending their gains to a fifth straight session, while most
other Southeast Asian stock markets put in lacklustre
The Philippine index closed 1.2 percent higher,
notching up a 4.5 percent gain over the last five sessions, as
real-estate developer SM Prime Holdings gained after
reporting a jump in quarterly earnings.
Bank stocks also boosted the Philippine market, with BDO
Unibank Inc gaining 2.6 percent and Metropolitan Bank
and Trust Co adding 4.5 percent.
Singapore shares edged 0.5 percent higher as consumer
goods and industrial stocks ticked up. Wine and soda distiller
Thai Beverage PCL added 3.1 percent and casino and
gaming operator Genting Singapore Ltd rose 1.6
Indonesian shares traded nearly flat, as telecom
stocks like Telekomunikasi Indonesia Tbk rose 1.8
percent and PT Indosat Tbk added 6.0 percent to offset
losses in the banking sector.
Meanwhile, Malaysian stocks led losses in the
region, closing 0.6 percent lower, as telecom giant Axiata Group
Bhd shed 6 percent and Telekom Malaysia lost
"General sentiment in the Malaysian market is pretty
cautious awaiting the upcoming union budget," said Nik-Ihsan, a
technical analyst with Maybank Kim Eng.
The government had recently unveiled new forecasts,
indicating wider fiscal deficits than earlier expected and an
austere 2019 budget scheduled to be presented on Nov. 2.
Rating agencies have warned its sovereign credit ratings
could take a hit if the government cannot narrow its budget
Vietnamese stocks closed 0.5 percent lower, led by
losses in financials. Joint Stock Commercial Bank for Foreign
Trade of Vietnam dropped 1 percent, while Vietnam
Prosperity Joint Stock Commercial Bank fell 2.7
Prime Minister Nguyen Xuan Phuc said on Monday foreign
direct investment inflows into Vietnam this year would likely
reach a record $18 billion.
He also said the Southeast Asian country would aim to keep
the inflation rate at 4 percent for 2019.
However, he added there was pressure on Vietnam's inflation
rate due to higher prices for crude oil and electricity as well
as education and healthcare services.
Thai shares fell 0.6 percent as investor sentiment was hit
after disappointing trade data for September. Exports, the key
driver of its growth, fell 5.2 percent from a year earlier.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3078.06 3062.51 0.51
Bangkok 1658.56 1667.91 -0.56
Manila 7236.16 7151.52 1.18
Jakarta 5840.435 5837.291 0.05
Kuala Lumpur 1722.47 1732.14 -0.56
Ho Chi Minh 953.51 958.36 -0.51
Change on year
Market Current End prev yr Pct Move
Singapore 3078.06 3402.92 -9.55
Bangkok 1658.56 1753.71 -5.43
Manila 7236.16 8,558.42 -15.45
Jakarta 5840.435 6,355.65 -8.11
Kuala Lumpur 1722.47 1796.81 -4.14
Ho Chi Minh 953.51 984.24 -3.12
(Reporting by Rashmi Ashok in Bengaluru; Editing by Amrutha