May 15, 2019 / 3:56 AM / 7 days ago

SE Asia Stocks-Most advance as Trump offers trade hopes to markets

    * Malaysia leads gains in SE Asia
    * Singapore bucks trend
    * Trump says China trade talks not collapsed 

    By Nikhil Subba
    May 15 (Reuters) - Most Southeast Asian stock markets
advanced on Wednesday, following a firmer finish on the Wall
Street, as U.S. President Donald Trump's upbeat remarks on
Sino-U.S. trade talks helped repair bruised optimism.
    All three major U.S. stock indexes rose on Tuesday after
President Trump said he had a "very good" dialogue with China
and insisted talks between the two economies had not collapsed,
raising hopes of a possible trade resolution as Washington and
Beijing prepare to meet again at next month's G20 summit.

    "Global risk sentiments stabilised somewhat overnight as
Trump reassured markets that the U.S. has a "dialogue ongoing"
with China," OCBC said in a note to clients.
    Malaysia stocks climbed 0.8% and lead gains in
Southeast Asia. Telecom giant Axiata Group rose 3% and
Dialog Group was up 8.5% — its highest since Nov. 12,
2018.
    Philippines shares rose 0.5%, helped by industrials
and energy stocks, after tumbling almost 2% in the previous
session.
    Port operator International Container Terminal Services
 climbed to a record high, while conglomerate Aboitiz
Equity Ventures rose 2.7%.
    Indonesia's benchmark index edged higher ahead of
the country's trade data due later in the day. 
    Gains were lead by chemical products manufacturer Eterindo
Wahanatama, which soared 29.3%, and mall operator
Bliss Properti Indonesia, which jumped to a record
high.
    Meanwhile, data showed China's industrial output in April
slowed more than expected and retail sales for the same month
also grew at its slowest pace since May 2003, reinforcing views
Beijing will have to roll out more stimulus to promote growth as
a trade war with the United States intensifies.
    Singapore's Straits Times index bucked the trend to
fall marginally lower, weighed by consumer services and
industrials.
    The International Monetary Fund has forecast Singapore's
2019 economic growth at 2.3%, compared with 3.2% in 2018, citing
the country's high exposure to global trade, OCBC said in a
note.    
    
    
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SOUTHEAST ASIAN STOCK MARKETS AT 0323 GMT    
    
  Market              Current    Previous Close  Pct Move
  Singapore           3221.83    3223.71         -0.06
  Bangkok             1636.04    1633.84         0.13
  Manila              7686.86    7646.66         0.53
  Jakarta             6073.58    6071.202        0.04
  Kuala Lumpur        1612.35    1599.19         0.82
  Ho Chi Minh         970.54     965.34          0.54
                                                 
  Change on year                                 
  Market              Current    End 2017        Pct Move
  Singapore           3221.83    3068.76         4.99
  Bangkok             1636.04    1563.88         4.61
  Manila              7686.86    8558.42         -10.18
  Jakarta             6073.58    6194.498        -1.95
  Kuala Lumpur        1612.35    1690.58         -4.63
  Ho Chi Minh         970.54     984.24          -1.39
 
 (Reporting by Nikhil Subba; editing by Uttaresh.V)
  
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