November 27, 2019 / 4:21 AM / 11 days ago

SE Asia Stocks-Most inch higher after Trump trade deal remarks

    * Philippines bounces back, up over 1%
    * Indonesia up after 4 sessions of losses
    * Thailand rolls out new stimulus measures

    By Arundhati Dutta
    Nov 27 (Reuters) - Most Southeast Asian stock markets edged
higher on Wednesday, with Philippines leading the pack, after
U.S. President Donald Trump said the United States and China
were close to agreement on the first phase of a trade deal.
    Trump said on Tuesday Washington was in the "final throes"
of a deal that would defuse the 16-month dispute with Beijing,
but reiterated U.S. support for anti-government protesters in
Hong Kong, a potential sore point with China.
    Despite hints of progress towards an initial deal over the
past few days, worries remained as some reports suggested
Beijing and Washington were unable to agree on terms of tariff
rollbacks.
    Given that Trump ruled out a complete tariff rollback, his
threat to end the truce without a deal is real, starting with
the tariffs due on Dec. 15, according to a note by DBS Group
Research.
    "Trump will also need to decide by Dec. 2 whether to sign or
veto the Hong Kong Human Rights and Democracy Act that has
bipartisan support," DBS Group added.
    Philippine shares jumped 1.1%, bouncing back from a
near seven-week closing low hit on Tuesday. 
    Conglomerates Ayala Land and DMCI Holdings
rose 3.6% and 4.7%, respectively.  
    Thai shares inched higher, lifted by energy stocks
on overnight gains in crude oil prices. PTT Exploration and
Production Pcl advanced 2%.
    On Tuesday, the government rolled out stimulus measures to
inject more than 100 billion baht ($3.31 billion) to boost the
lagging economy.
    Indonesian stocks ticked up after four straight
sessions of falls, with index heavyweight Telekomunikasi
Indonesia adding 1.6%.
    Malaysian equities rose, with power utility Tenaga
Nasional gaining 1%.
    Vietnam shares climbed 0.5%, while Singapore stocks
 were little changed. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0337 GMT 
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3206.87   3207.85         -0.03
 Bangkok                1611.22   1609.38         0.11
 Manila                 7793.26   7707.8          1.11
 Jakarta                6046.914  6026.188        0.34
 Kuala Lumpur           1587.03   1583.87         0.20
 Ho Chi Minh            981.88    976.79          0.52
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3206.87   3068.76         4.50
 Bangkok                1611.22   1563.88         3.03
 Manila                 7793.26   7,466.02        4.38
 Jakarta                6046.914  6,194.50        -2.38
 Kuala Lumpur           1587.03   1690.58         -6.13
 Ho Chi Minh            981.88    892.54          10.01
 
($1 = 30.1900 baht)

 (Reporting by Arundhati Dutta; Editing by Subhranshu Sahu)
  
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