HANOI (Reuters) - Most South-east Asian stock markets edged down on Monday, while the Singapore index climbed on expectation of an economic rebound from a weak first quarter and Indonesian shares recouped after a post-election slump.
Singapore's benchmark Straits Times Index was up 0.4 per cent, ending two straight sessions of losses, after the country's central bank said it would keep its tight monetary policy stance on expectation of only moderate economic growth this year.
"Barring a significant shock in the external environment, the Singapore economy should expand at a moderate pace over the course of the year," the Monetary Authority of Singapore said in its half-yearly statement.
Industrial conglomerate Jardine Matheson Holdings and subsidiary Jardine Strategic Holdings Ltd were the top gainers on the Singapore market.
Jakarta's Composite Index climbed 0.62 per cent, picking up from a 3.1 per cent post-election loss on Thursday on disappointment about a possible formation of a weak government with limited ability to boost investments.
Construction materials firm Semen Indonesia (Perserco) led the gains with a 3.3 per cent advance, bouncing back from a 8.8 per cent fall over the previous two sessions, Reuters data showed.
Stocks in the Philippines, Malaysia and Vietnam all drifted lower by midday on Monday.
The Philippine main index dipped 0.29 per cent, extending its loss in the previous session after its eight-month high close on Thursday, Reuters data showed.
Stocks in Malaysia eased 0.1 per cent and Vietnam's benchmark VN Index edged down 0.21 per cent.
The Thai market was closed on Monday for a public holiday.