March 12, 2019 / 3:52 AM / a month ago

SE Asia Stocks-Most rise as Brexit deal assurance boosts risk appetite

    * Singapore races past 3200 resistance level, up 1 pct
    * Wall St rally, changes to Brexit deal raise investor
confidence

    By Rashmi Ashok
    March 12 (Reuters) - Most Southeast Asian stock markets
rallied on Tuesday, with Singapore leading gains, as sentiment
across broader Asia lifted after the European Commission agreed
to changes in a Brexit deal, boosting appetite for riskier
assets.
    News that European Commission agreed to additional
assurances in an updated Brexit deal with British Prime Minister
Theresa May, ahead of a vote in the British parliament, lent
support to Asian stocks.
    In early trade, MSCI's broadest index of Asia-Pacific shares
outside Japan was up 0.3 percent, following a
rally on Wall Street overnight.
    Singapore's index led the rally, jumping about 1
percent to 3,221.92, with with financial and industrial stocks
notching strong gains. 
    "The STI fell 0.14 percent to close at a fresh five-week low
of 3,191.42 yesterday, but may regain the 3,200 resistance
handle today amid renewed Brexit hopes and Wall Street's
recovery overnight," OCBC said in a note.
    Edible oils company Wilmar International Ltd was
among top gainers, up 1.6 percent after signing a deal post
market hours on Monday to acquire full control of bread and
spreads maker Goodman Fielder.
    Financial stocks such as United Overseas Bank Ltd
and DBS Group Holdings Ltd rose 0.9 percent and 1.1
percent respectively.
    The Philippine benchmark ticked up, with industrial
stocks largely driving gains. Index heavyweight SM Investments
Corp edged up, while electric utilities provider Aboitiz
Equity Ventures Inc rose 1.1 percent.
    Meanwhile, the country's January trade data showed that
exports slipped 1.7 percent and imports grew about 5.8 percent
from the last year, widening the country's trade deficit
slightly.
    Vietnam's index advanced 0.7 percent, with real
estate stocks largely fuelling the index. Vingroup JSC
firmed while Vincom Retail JSC rose 1.6 percent.  
    Malaysia's index rose, boosted by stocks such as
aluminium manufacturer Press Metal Aluminium Holdings Berhad
 which rose 2.6 percent and lender RHB Bank Berhad
 which added 1.4 percent.
    Thai shares also traded higher, as the energy heavy
index also benefitted from a jump in oil prices.
    However, Indonesia's benchmark was down 0.1 percent,
dragged down by material stocks, with paper products maker PT
Indah Kiat Pulp & Paper Tbk slipped 5.1 percent.
   
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS at 0343 GMT
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3221.92   3191.42         0.96
 Bangkok                1629.98   1627.43         0.16
 Manila                 7743.31   7708.72         0.45
 Jakarta                6359.022  6366.434        -0.12
 Kuala Lumpur           1668.83   1664.63         0.25
 Ho Chi Minh            991.5     984.6           0.70
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3221.92   3068.76         4.99
 Bangkok                1629.98   1563.88         4.23
 Manila                 7743.31   7,466.02        3.71
 Jakarta                6359.022  6,194.50        2.66
 Kuala Lumpur           1668.83   1690.58         -1.29
 Ho Chi Minh            991.5     892.54          11.09
 

 (Reporting by Rashmi Ashok in Bengaluru; Editing by Rashmi
Aich)
  
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