Southeast Asian stocks mixed; Indonesia rises

Published: May 20, 2019 13:05:35 | Updated: May 23, 2019 15:42:17

Southeast Asian stocks were mixed on Tuesday, while Indonesian shares rose, ahead of the outcome of the country's presidential election, but Philippines shares declined.

The Jakarta index gained as much as 0.8 per cent and was poised to snap five straight sessions of declines. Financials and communications sectors provided support.

PT Bank Central Asia Tbk and PT Telekomunikasi Indonesia (Persero) Tbk each advanced 2.3 per cent.

Philippines shares slipped as Sino-US trade tensions kept investors at bay. The Philippine bourse lost up to 0.7 per cent, weighed by real estate and industrial sectors.

The index was on track to decline for a sixth session in seven, reports Reuters.

Property developer SM Prime Holdings Inc fell up to 2.2 per cent, while conglomerate SM Investments Corp slipped 1.2 per cent.

Vietnam stocks were largely flat, with gains in utilities sector offsetting losses in real estate stocks.

Financial markets in Singapore, Thailand and Malaysia were closed for holidays.

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