January 9, 2020 / 4:31 AM / 11 days ago

SE Asia Stocks-Markets rally as Middle East conflict worries ease

    * Thai stocks lead gains, up as much as 1.1%
    * Vietnam recovers from over 6-month low 
    * China Dec CPI unchanged from Nov

    By Sameer Manekar
    Jan 9 (Reuters) - Southeast Asian markets rose on Thursday,
recovering from sharp declines in the previous session, after
remarks from the United States and Iran soothed concerns of a
larger Middle East conflict.
    President Donald Trump said on Wednesday the United States
did not have to respond militarily to Iran's attack, while
Iranian Foreign Minister Mohammad Javad Zarif said the strikes
"concluded" Tehran's retaliation.
    "As sentiment improves, market participants unwound
safe-haven bets with broad relief sell-off in the bond
universe," Mizuho Bank analyst Zhu Huani said.
    Aiding sentiment, data showed China's efforts to prop up its
economy was yielding results as producer prices fell at a slower
pace, showing signs of a modest recovery in industry activity
and consumer price index in December remained unchanged from a
month ago at 4.5%.
    Thai stocks led gains in the region and was up as
much as 1.1%. Gulf Energy Development and Charoen
Pokphand Foods added 2.7% and 3.6%, respectively. 
    Indonesian equities gained, with Bank Central Asia
 rising 0.9% and Bank Mandiri (Persero) 1.7%.
    Singapore's benchmark index gained as much as 0.5%,
with Southeast Asia's largest lender DBS Group Holdings
 rising 0.4%, and industrial conglomerate Jardine
Strategic Holdings gaining 0.9%. 
    Malaysian equities were lifted by financials.
Heavyweights Malayan Banking and CIMB Group Holdings
 climbed 0.8% and 1%.
    Philippine bourse inched up 0.3%. BDO Unibank
 rose 0.5% and Ayala Land was up 1.8%.
    Vietnam stocks recovered from a more than six-month
low hit in the previous session to climb up to 0.9% as most
blue-chip names rallied.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0427 GMT 

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3247.96   3245.89         0.06
 Bangkok                1572.14   1559.27         0.83
 Manila                 7762.75   7736.24         0.34
 Jakarta                6245.823  6225.686        0.32
 Kuala Lumpur           1592.04   1589.1          0.19
 Ho Chi Minh            956.43    948.98          0.79
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              3247.96   3222.83         0.78
 Bangkok                1572.14   1579.84         -0.49
 Manila                 7762.75   7,815.26        -0.67
 Jakarta                6245.823  6,299.54        -0.85
 Kuala Lumpur           1592.04   1588.76         0.21
 Ho Chi Minh            956.43    960.99          -0.47
 

 (Reporting by Sameer Manekar in Bengaluru; editing by
Uttaresh.V)
  
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