U.S. Markets closed

SE Asia Stocks-Philippines hits over 1-month closing low; Indonesia gains

* Philippines posts third consecutive loss

* Singapore snaps four sessions of gains

* Thai, Vietnam markets closed

By Shreya Mariam Job

April 15 (Reuters) - Philippine stocks closed at their

lowest level in more than a month on Monday, as investors locked

in profits ahead of the four-day weekend, while Indonesian

stocks moved higher buoyed by a surprise trade surplus in March.

The Philippine benchmark fell 1.2 percent to its

lowest close since March 14, with a steep sell-off in the last

half hour of trade.

Industrials were the biggest drag on the index, with shares

of conglomerate Aboitiz Equity Ventures Inc dropping

5.1 percent to close at their lowest level since Jan. 2.

"For this week, Philippine market is closed for Thursday and

Friday. What we are seeing now is a bit of profit taking because

some investors are looking to protect their capital," said

Rachelle C Cruz, an analyst with AP Securities.


Shares of Universal Robina Corp were also a major

drag, extending losses into a third straight session losing 3.6

percent. The company posted a 15 percent fall in full year net

income.

The sentiment toward the stock was also weaker in light of

rising competition in the coffee industry, after Mayora Indah

Tbk PT, producer of the coffee brand Kopiko, announced

https://business.mb.com.ph/2019/04/11/indonesias-pt-mayora-to-invest-80-million-for-coffee-factory-in-ph

investments in Philippines for local manufacturing and

processing operations

"In the long run, there might be more competition and that

may affect the growth prospects of URC," Rachelle added.

Singapore index edged lower, hurt by industrial and

financial stocks.

Jardine Matheson Holdings Ltd and Oversea-Chinese

Banking Corporation Ltd slid 0.2 percent and 0.6

percent, respectively.


Meanwhile, Indonesian shares gained 0.5 percent,

snapping three sessions of losses with a surprise trade surplus

in March buoying sentiment while political uncertainty ahead of

the presidential elections on Wednesday capped gains.

Indonesia posted a surprise trade surplus for a second

straight month in March, supporting the central bank's outlook

of a narrowing current account deficit, but economists warn a

trade deficit could return after Wednesday's presidential

elections.

Consumer stocks boosted the index with Charoen Pokphand

Indonesia Tbk Pt rising 3 percent and Astra

International Tbk Pt firming 1.7 percent.

Thailand and Vietnam markets were closed for

a holiday.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS

Change on the day

Market Current Previous close Pct Move

Singapore 3325.86 3331.98 -0.18

Manila 7787.98 7880.82 -1.18

Jakarta 6435.151 6405.866 0.46

Kuala Lumpur 1631.33 1630.17 0.07

Change so far in 2019

Market Current End 2018 Pct Move

Singapore 3325.86 3068.76 8.38

Manila 7787.98 7,466.02 4.31

Jakarta 6435.151 6,194.50 3.88

Kuala Lumpur 1631.33 1690.58 -3.50

(Reporting by Shreya Mariam Job; Editing by Rashmi Aich)