October 8, 2019 / 5:04 AM / 9 days ago

SE Asia Stocks-Most gain as China opens firmer after week-long break

    * China rises as trade talks set to kick off on Thursday
    * Financial and industrial sectors lift Singapore stocks
    * Thai cabinet approves larger 2020 budget

    By Soumyajit Saha
    Oct 8 (Reuters) - Most Southeast Asian stock markets rose on
Tuesday as markets in China, the region's biggest trading
partner, opened firmer after a week-long holiday and as traders
turned their focus to pivotal Sino-U.S. trade negotiations in
Washington later this week.
    High-level talks between the United States and China are set
to kick off on Thursday, while deputy trade negotiators from
both countries launched a round of talks at the start of the
week, with markets looking for signs of a resolution. 

    "The general feeling in Chinese equity markets is quite
positive and that's a pretty convincing signal to other equity
markets in Asia," said Stephen Innes, Asia Pacific market
strategist, AxiTrader.
    The Philippine index gained as much as 1% to its
highest in more than a week. Conglomerate SM Investments Corp
 rose 2.5%, while lender BDO Unibank climbed
1.2%.
    Financial and industrial sectors lifted Singapore shares
 to their highest since Oct. 2, with United Overseas Bank
 gaining 1.4% and conglomerate Jardine Strategic
Holdings rising 1.5%.
    Thai stocks extended gains for a second session
after a cabinet approved a budget of 3.2 trillion baht ($104.99
billion) for the 2020 fiscal year to bolster Southeast Asia's
second-largest economy, which was growing at its weakest pace in
nearly five years.
    The bourse was underpinned by banking and industrial
sectors, with lender Central Pattana PCL climbing 0.8%,
while Airports of Thailand rose 0.3%. 
    However, Malaysian shares edged lower, dented by
heavy losses in healthcare and energy sectors.
           
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 04:55 GMT
  STOCK MARKETS                                             
  Change on the day                                         
  Market             Current        Previous      Pct Move
                                    close         
  Singapore          3117.53        3099.48       0.58
  Bangkok            1618.88        1613.71       0.32
  Manila             7754           7683.22       0.92
  Jakarta            6023.281       6000.582      0.38
  Kuala Lumpur       1558.3         1559          -0.04
 Ho Chi Minh         982.85         983.09        -0.02
                                                  
  Change so far in                                
 2019                                             
  Market             Current        End 2018      Pct Move
  Singapore          3117.53        3068.76       1.59
  Bangkok            1618.88        1563.88       3.52
  Manila             7754           7,466.02      3.86
  Jakarta            6023.281       6,194.50      -2.76
  Kuala Lumpur       1558.3         1690.58       -7.82
  Ho Chi Minh        982.85         892.54        10.12
 
($1 = 30.4800 baht)

 (Reporting by Soumyajit Saha in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
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