SE Asia Stocks-Most rise ahead of China growth data; Vietnam slumps

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 * Vietnam slumps as much as 2 percent * Philippines on track to snap 3 straight sessions of losses * Signs of recovery in China's economy buoys sentiment By Shreya Mariam Job April 16 (Reuters) - Most Southeast Asian stock markets rose
on Tuesday, with Philippines leading the gainers, on optimism
over a potential economic recovery in China ahead of its
first-quarter growth data on Wednesday. China's economic growth during the quarter is likely to have
cooled to the weakest pace in at least 27 years, a Reuters poll
has showed, but a flurry of measures to boost domestic demand
may have put a floor under slowing activity in March. The People's Bank of China said some positive changes have
occurred in the structural adjustments of the Chinese economy in
the first quarter, but deeper problems remain, amid
uncertainties. Last week, the country reported strong credit growth as well
as exports for March. "Players in Asia may turn defensive today ahead of China's
GDP report on Wednesday, which may provide some direction," ING
said in a note. Philippine stocks led gains in the region and were on
track to snap three consecutive sessions of losses, after the
delayed national budget was finally signed by Philippines
President Rodrigo Duterte on Monday. President Duterte signed a 3.7 trillion peso ($71.54
billion) budget for this year, its largest ever, ending months
of impasse that forced the Southeast Asian country to cuts its
growth target. Last month, Philippines reduced this target to
6-7 percent from 7-8 percent. Industrials and real estate stocks drove gains in the
Philippine market with SM Investments Corp and JG Summit
Holdings Inc firming 1.8 percent and 2.2 percent,
respectively. Meanwhile, Vietnam stocks fell as much as 2 percent
to its lowest level in nearly two months, with real estate
stocks dragging the index. Vinhomes JSC and Vingroup JSC were the top
drags on the index shedding 3.1 percent and 2.8 percent,
respectively. Thai market was closed for a holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS As at 0346 GMT Change on the day Market Current Previous close Pct Move Singapore 3333.19 3325.86 0.22 Manila 7842.24 7787.98 0.70 Jakarta 6448.648 6435.151 0.21 Kuala Lumpur 1633.57 1631.33 0.14 Ho Chi Minh 971.89 982.9 -1.12 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3333.19 3068.76 8.62 Manila 7842.24 7,466.02 5.04 Jakarta 6448.648 6,194.50 4.10 Kuala Lumpur 1633.57 1690.58 -3.37 Ho Chi Minh 971.89 892.54 8.89 ($1 = 51.7200 Philippine pesos) (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Uttaresh.V) 

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