January 21, 2019 / 4:08 AM / 10 months ago

CORRECTED-SE Asia Stocks-Most rise on China stimulus hopes, trade talk progress

 (Corrects to remove references to Malaysian shares throughout
as the markets are closed for a holiday)
    * Indonesia on track to post fifth consecutive gain
    * Thai stocks rise on 2018 export growth

    By Shreya Mariam Job
    Jan 21 (Reuters) - Most Southeast Asian stock markets rose
on Monday with Thailand leading the gains, as investors hoped
for more stimulus from China after disappointing growth, amid
optimism about Washington and Beijing progressing with trade
    GDP of China, the largest trading partner of the region,
expanded 6.4 percent in the fourth quarter of 2018, in line with
analyst expectations, while for the year, the economy grew 6.6
percent, its slowest pace in 28 years.
    Following a slowdown in its growth, Chinese policymakers
have pledged more support to the economy in this year with the
government expected to unveil more fiscal stimulus measures
during the annual parliament meeting in March, including bigger
tax cuts and more spending on infrastructure projects.

    "Markets had expected the slowing economic growth I think
focus is shifted to stimulus measures that China has announced
over the past few weeks," said Joel Ng, an analyst at KGI
    Meanwhile, the positive turn on the trade talks is also
boosting market sentiment in the region, with Thai stocks
leading gains. 
    "China offering to eliminate its trade imbalance by
increasing imports of U.S. goods ...(is) probably providing a
much better sentiment in the market," Joel added. 
    A Bloomberg report had earlier stated that China has offered
to go on a six-year buying spree to ramp up imports from the
United States in order to reconfigure the relation between the
two countries.
    Furthermore, the U.S. President Donald Trump on Saturday had
also confirmed that there has been progress toward a trade deal
with China.
    Thai stock index rose 0.5 percent, owing to a surge
in 2018 exports. 
    The country's 2018 exports rose 6.7 percent bringing the
country's trade balance to $1.06 billion compared to a deficit
of $1.10 billion expected by analysts. 
    Energy stocks drove the index with PTT PCL rising 1
percent and PTT Exploration and Production PCL
firming 1.6   
    Singapore's benchmark index rose 0.5 percent buoyed
by financial and technology stocks. 
    Shares of DBS Group Holdings Ltd rose 0.2 percent,
while those of United Overseas Bank Ltd gained 0.5
    Malaysian markets were closed for a holiday.

For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3239.71   3224.34         0.48
 Bangkok                1591.72   1583.77         0.50
 Manila                 8036.4    8047.12         -0.13
 Jakarta                6462.356  6448.156        0.22
 Ho Chi Minh            904.98    902.3           0.30
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3239.71   3068.76         5.57
 Bangkok                1591.72   1563.88         1.78
 Manila                 8036.4    7,466.02        7.64
 Jakarta                6462.356  6,194.50        4.32
 Ho Chi Minh            904.98    892.54          1.39
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Rashmi
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below