October 29, 2018 / 4:09 AM / 22 days ago

SE Asia Stocks-Most up; Singapore recovers from 21-month low

    * Bargain-hunting drives recovery in Southeast Asia
    * Thai shares gain ahead of Sept factory output data

    By Shanima A
    Oct 29 (Reuters) - Most Southeast Asian stock markets rose
on Monday, recovering from last week's steep falls, although
lingering concerns about global growth continued to weigh on
investor risk appetite.
    Wider sentiment in markets has been hit by a range of
negative factors from an intensifying China-U.S. trade conflict
to worries about U.S. corporate earnings to Italian budget woes
as well as Federal Reserve rate increases.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 pared early gains and was last up 0.1 percent.
    "After last week's fall, traders are starting to talk of a
recovery ahead of the upcoming Trump-Xi meet in November," said
Liu Jinshu , director of research at NRA Capital. 
    White house adviser Larry Kudlow said reut.rs/2EQsgTz
 U.S. President Donald Trump may meet with Chinese President Xi
Jinping at the G20 summit in Buenos Aries on Nov. 30.
    "Increasingly, I am also hearing of bargain hunters on the
prowl since last week. Basically, some counters have reached
levels that buyers are finding attractive," Liu said.
    Singapore shares climbed as much as 1.1 percent,
recovering from a 21-month low hit on Friday and after declining
3 percent last week. Conglomerates Jardine Strategic Holdings
Ltd and Jardine Matheson Holdings Ltd gained
3.9 percent and 2.6 percent, respectively.     
    Among other Southeast Asian stock markets, Indonesia
gave up early gains to trade largely flat, with losses in
financials offsetting gains in the consumer staples and consumer
discretionary sectors. 
    Automotive equipment manufacturer PT Astra International Tbk
 climbed to a more than one-month high, while lender
Bank Central Asia Tbk PT dropped 1.3 percent.
    Thai shares rose as much as 1 percent ahead of
September factory output data due on Tuesday. 
    Energy stocks accounted for most of the gains on the index,
with petroleum explorer PTT Exploration and Production PCL
 adding 2.2 percent. 
    Front-month Brent crude oil futures gained 1 cent to
$77.63 a barrel.
    Vietnam stocks slumped 1.1 percent, extending their
falls into an eighth session.  
        
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0404 GMT    
  Market           Current       Previous close  Pct Move
  Singapore        2988.71       2972.02         0.56
  Bangkok          1641.83       1628.96         0.79
  Manila           7076.2        7064.33         0.17
  Jakarta          5782.864      5784.921        -0.04
  Kuala Lumpur     1682.99       1683.06         0.00
 Ho Chi Minh       891.25        900.82          -1.06
                                                 
  Change on year                                 
  Market           Current       End 2017        Pct Move
  Singapore        2988.71       3402.92         -12.17
  Bangkok          1641.83       1753.71         -6.38
  Manila           7076.2        8558.42         -17.32
  Jakarta          5782.864      6355.654        -9.01
  Kuala Lumpur     1682.99       1796.81         -6.33
  Ho Chi Minh      891.25        984.24          -9.45
 
 (Reporting by Shanima A; Editing by Subhranshu Sahu)
  
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