August 20, 2018 / 9:52 AM / 2 months ago

SE Asia Stocks-Most markets rise; Indonesia jumps nearly 2 pct

    * Philippines falls over 1 pct on foreign selling
    * Thai stocks extend gains into third session

    By Sumeet Gaikwad
    Aug 20 (Reuters) - Most Southeast Asian stock markets rose
in line with broader Asia on Monday as investors cheered planned
Sino-U.S. trade talks, while Philippine shares fell over 1
percent on continued selling by foreign investors.
    China and the United States are set to hold lower-level
trade talks this month, offering hope that they might resolve an
escalating tariff war that threatens to engulf all trade between
the world's top two economies.
    "Even if nothing conclusive may be achieved this week, there
could be an implicit promise of a ceasefire with no escalation
in the interim," Mizuho Bank said in a note.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up nearly 1 percent.
    In Southeast Asia, Indonesian stocks started the
week on a strong note after a long weekend and closed nearly 2
percent higher. Financial markets in Indonesia were closed on
Friday for a national holiday.
    Lender Bank Central Asia led the gains with a rise
of more than 2 percent, while automotive conglomerate Astra
International was up over 4 percent.
    An index of the country's 45 most liquid stocks
was up 2.3 percent.
    "Most of the negatives have been already baked into the
cake. What the market needed was some kind of a relief," said
Taye Shim, head of research at Mirae Asset Sekuritas, adding
that it came in the form of trade talks.
    Thai stocks closed higher for a third straight
session, helped by gains across the board.
    Earlier in the day, data showed the economy expanded at a
slower pace in April-June and tourism decelerated, but the state
planning agency kept its 2018 growth forecast of 4.2 percent to
4.7 percent and raised its projection for export gains.

    Oil and gas producer PTT rose 1.5 percent, while
hospital operator Bangkok Dusit Medical Services ended
nearly 4 percent higher.
    Meanwhile, Philippines shares fell a second session
in three as industrial & financial stocks weighed on the
benchmark index.
    Index heavyweights Ayala Corp and JG Summit Holdings
 declined over 4 percent each.
    Foreign investors sold equities worth a net $12.55 million
on Monday, according to Thomson Reuters Eikon data. In the last
week, they sold shares worth a net $88.5 million, said Manny
Cruz, an analyst with Asiasec Equities Inc.
    A rise in inflation and weakening of the peso against the
U.S. dollar are driving the market, Manny added.

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3204.71   3209.44         -0.15
 Bangkok            1701.42   1690.04         0.67
 Manila             7500.53   7583.52         -1.09
 Jakarta            5892.192  5783.798        1.87
 Kuala Lumpur       1787.58   1783.47         0.23
 Ho Chi Minh        969.62    968.88          0.08
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3204.71   3402.92         -5.82
 Bangkok            1701.42   1753.71         -2.98
 Manila             7500.53   8558.42         -12.36
 Jakarta            5892.192  6355.654        -7.29
 Kuala Lumpur       1787.58   1796.81         -0.51
 Ho Chi Minh        969.62    984.24          -1.49
 
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by
Subhranshu Sahu)
  
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