November 28, 2018 / 10:10 AM / 17 days ago

SE Asia Stocks-Most climb on hopes of Sino-U.S. trade truce

    * Hopes of trade truce ahead of Trump-Xi meeting at G20
    * Philippine, Indonesian shares slip

    By Shreya Mariam Job
    Nov 28 (Reuters) - Most Southeast Asian stock markets ended
higher on Wednesday after comments from U.S. and Chinese
officials spurred hopes of a deal between the two countries
which could ease their damaging trade conflict.
    China is going to this week's G20 summit in Argentina with
hopes of striking a deal with the United States, Beijing's
ambassador to the United States told Reuters on Tuesday.

    Separately, White House economic adviser Larry Kudlow said
on Tuesday that U.S. President Donald Trump was open to a trade
deal with China subject to conditions.
    "Market participants are weighing the prospect of a trade
truce following Trump-Xi's dinner scheduled on this Saturday as
the U.S. side scaled back from Trump's earlier tough tone on
potentially raising tariffs further on Chinese imports," Huani
Zhu, an economist at Mizuho Bank, said in a report.
    Asian shares were largely higher on Wednesday and in South
East Asia, Vietnamese stocks led the gains with a 0.8
percent rise, helped by financials and consumer staples stocks.
    Joint Stock Commercial Bank for Foreign Trade of Vietnam
 gained 3.2 percent, while Saigon Beer Alcohol Beverage
Corp added 3.3 percent.
    Thai stocks rose 0.4 percent, as a bounce in oil
prices supported energy stocks. PTT PCL firmed 0.5
percent, while Siam Cement PCL climbed 1.8 percent.
    Singaporean stocks ticked up marginally, helped
largely by technology shares. Singapore Technologies Engineering
Ltd rose 0.3 percent, while Golden Agri-Resources Ltd
 gained 6.7 percent.
    However, Philippine stocks ended 0.4 percent lower,
snapping four consecutive sessions of gains, a period in which
it gained 2.03 percent.
    The benchmark was dragged lower by real estate and financial
stocks. Ayala Land Inc dipped 1.6 percent, while SM
Prime Holdings Inc slid 1.2 percent.
    Meanwhile, telecom and materials shares drove Indonesian
stocks 0.4 percent lower.
    Telekomunikasi Indonesia (Persero) Tbk Perusahaan Perseroan
PT dropped 4.1 percent, while Pabrik Kertas Tjiwi
Kimia Tbk PT plunged 9.1 percent, to its lowest close
in two weeks.
     
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3094.48   3090.4          0.13
 Bangkok            1640.63   1634.27         0.39
 Manila             7382.43   7413.63         -0.42
 Jakarta            5991.246  6013.589        -0.37
 Kuala Lumpur       1686.55   1684.97         0.09
 Ho Chi Minh        930.2     923.12          0.77
                                              
 Change on year                               
 Market             Current   End prev yr     Pct Move
 Singapore          3094.48   3402.92         -9.06
 Bangkok            1640.63   1753.71         -6.45
 Manila             7382.43   8,558.42        -13.74
 Jakarta            5991.246  6,355.65        -5.73
 Kuala Lumpur       1686.55   1796.81         -6.14
 Ho Chi Minh        930.2     984.24          -5.49
                                              
 
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Sai
Sachin Ravikumar)
  
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