September 20, 2018 / 3:28 AM / 2 months ago

SE Asia Stocks-Most rise on respite from trade war worries

    * Indonesia rises in 2nd straight session
    * Thai shares up for sixth session in seven
    * Philippine index down for 3rd straight session

    By Sumeet Gaikwad
    Sept 20 (Reuters) - Most Southeast Asian stock markets rose
on Thursday, in line with Asian peers and overnight gains on
Wall Street, while investors took heart as Sino-U.S. trade war
pressures seemed to have eased. 
    Markets were cautious after a new round of tariffs between
Washington and Beijing, which was seen as less severe than
expected, but shrugged off worries amid emerging views that the
impact of the trade spat on global economic growth might not be
as heavy as previously feared.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.2 percent, while S&P 500 and the Dow
Jones industrial rose on Wednesday, with the Dow hitting its
highest closing level since late January.
    The Jakarta index rose for a second day to hit a
near one-week high with broadbased gains. 
    Consumer and financials stocks were the biggest boost to the
benchmark with Unilever Indonesia rising 1.8 percent,
while Bank Central Asia added 0.6 percent. 
    The index of the country's 45 most liquid stocks
was up nearly 1 percent. 
    Financials also helped Malaysian stocks hit an over
one-week high, its second straight session of gains. 
    Lender Hong Leong Bank Bhd rose 1.1 percent while
resorts operator Genting Malaysia, the biggest boost
to the benchmark, added 1.7 percent. 
    Thai shares climbed for a third straight session led
by gains in energy stocks. PTT Pcl and PTT Exploration
and Production were up 1.4 percent and 1.3 percent,
respectively.
    Oil rose for a third day amid another drawdown in U.S.
inventories and strong U.S. gasoline demand, while signs OPEC
may not raise output to address shrinking supplies from Iran
also supported prices.
    Singapore shares were largely unchanged as gains in
financials and consumer staples were offset by losses in
industrials and telecom stocks.
    Meanwhile, Philippine shares fell for a third
straight session as losses in real estate and industrial stocks
outweighed gains in financials.
    Property developer SM Prime Holdings was the
biggest drag on the benchmark, falling nearly 2 percent, while
shipping business International Container Terminal Services
 fell 3.5 percent. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: AS AT 03230GMT
    
 Market          Current   Previous Close  Pct Move
 Singapore       3176      3176.57         -0.02
 Bangkok         1756.88   1749.8          0.40
 Manila          7203.48   7221.23         -0.25
 Jakarta         5912.696  5873.597        0.67
 Kuala Lumpur    1807.03   1800.71         0.35
 Ho Chi Minh     997.25    995.54          0.17
                                           
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3176      3402.92         -6.67
 Bangkok         1756.88   1753.71         0.18
 Manila          7203.48   8558.42         -15.83
 Jakarta         5912.696  6355.654        -6.97
 Kuala Lumpur    1807.03   1796.81         0.57
 Ho Chi Minh     997.25    984.24          1.32
 
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Sunil
Nair)
  
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