November 6, 2018 / 4:20 AM / 9 days ago

SE Asia Stocks-Edge up; caution ahead of U.S. elections caps gains

    * Wall Street gains support market sentiment
    * Thai shares lead gains in region

    By Nikhil Subba
    Nov 6 (Reuters) - Southeast Asian stock markets inched
higher on Tuesday, drawing confidence from overnight gains on
Wall Street, but risk sentiment was fragile across Asian markets
ahead of the U.S. midterm congressional elections.
    The elections are widely seen as a referendum on Republican
President Donald Trump's first two years in the White House,
with his party favoured to retain its majority in the U.S.
Senate and while the opposition Democrats are expected to
capture a majority in the U.S. House of Representatives.

    Investors across the world are closely watching the
elections, as policy decisions that could sway the economy,
corporate decision-making and consumer spending hinge on the
results.
    In Southeast Asia, Thai shares led the gains,
climbing as much as 0.7 percent, as energy stocks bounced back
slightly.
    Oil and gas explorers PTT and PTT Exploration and
Production PCL rose more than 2 percent each.
    Indonesian shares ticked up 0.5 percent, led by
gains in financials and energy stocks. The country's economic
growth slowed at a lesser than expected pace in the third
quarter, data showed on Monday.
    Bank Central Asia Tbk was among the top gainers,
rising more than 1 percent to its highest in one month.
    The index of the country's 45 most liquid stocks
traded about 0.6 percent higher.
    Philippine shares rose about 0.2 percent after
government data showed that the country's annual inflation
steadied in October at its highest rate in almost a decade,
likely keeping the central bank on course for further policy
tightening.
    Month-on-month inflation eased to 0.3 percent in October
from 0.8 percent in September.
    "Investors are taking this as a good sign that inflation is
finally peaking, although they are also looking ahead to the GDP
data before making more aggressive moves," said RCBC Securities
analyst Fio Dejesus. 
    The country's third-quarter GDP data is expected on
Thursday.
    Singapore and Malaysian markets are closed on Tuesday for a
holiday.    

    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0340 GMT
    
  Market           Current       Previous close  Pct Move
  Bangkok          1680.59       1670.58         0.60
  Manila           7224.65       7213.44         0.16
  Jakarta          5948.552      5920.594        0.47
  Ho Chi Minh      926.7         925.53          0.13
                                                 
  Change on year                                 
  Market           Current       End 2017        Pct Move
  Bangkok          1680.59       1753.71         -4.17
  Manila           7224.65       8558.42         -15.58
  Jakarta          5948.552      6355.654        -6.41
  Ho Chi Minh      926.7         984.24          -5.85
 
    

 (Reporting by Nikhil Subba; Editing by Amrutha Gayathri)
  
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