July 26, 2018 / 4:19 AM / 3 months ago

SE Asia Stocks-Rise; Philippines jumps 2 pct

    * Philippines rises for 3rd session to 6-week top
    * Indonesia gains for fifth consecutive session

    By Syed Saif Hussain Naqvi
    July 26 (Reuters) - Southeast Asian stock markets rose on
Thursday, in line with broader Asia after U.S. President Donald
Trump and European Commission President Jean-Claude Juncker
agreed to begin talks to lower tariffs, easing immediate
concerns about worsening global trade tensions.
    The European Commission and the United States agreed to work
together to slash industrial tariffs on both sides and increase
U.S. exports of liquefied natural gas and Soybeans to Europe,
among others.
    This boosted investor risk appetite which has been muted
lately on concerns over a full-blown trade war.
    "Regional markets are higher today after the U.S. and Europe
agreed to sign a trade pact agreement, which eased trade war
concerns," said Lexter Azurin, an analyst with AB Capital
Securities.
    Asian shares ex-Japan reflected the positive
sentiment and rose for a third straight session, up by 0.1
percent.
    Philippine shares rose 2 percent to a six-week high,
extending gains into a third session. All sectors traded in
positive territory with industrials leading the gains.
    SM Investments Corp and SM Prime Holdings
were the top contributors, rising 1.7 percent and 2.5 percent
respectively, ahead of earnings.
    The market has gained on anticipation of solid
second-quarter earnings which are due over the next few weeks,
said Lexter.
    The market rose as much as 2.3 percent on Wednesday after
the International Monetary Fund said the country was likely to
sustain economic growth of 6.7 percent this year and in 2019.

    Thai shares gained as much as 0.7 percent, boosted
by energy and financial stocks.
    PTT PCL and PTT Exploration and Production PCL
 were among the top boosts, up about 1 percent and 1.5
percent respectively.
    Singapore shares inched higher, with gains in
financials outweighing losses in telecommunication stocks.
    Gains in Oversea-Chinese Banking Corp, United
Overseas Bank and DBS group Holdings helped
the benchmark stock index trade higher for a sixth session in
eight. 
    Indonesian shares gained up to 0.6 percent on the
back of financials, while Malaysian stocks edged higher
on utilities.    

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS as at 0351 GMT 
  Market          Current      Previous    Pct Move
                               close       
  Singapore       3329.82      3326.83     0.09
  Bangkok         1700.6       1690.08     0.62
  Manila          7657.77      7514        1.91
  Jakarta         5953.813     5933.889    0.34
  Kuala Lumpur    1765.14      1763.78     0.08
 Ho Chi Minh      923.56       927.58      -0.43
                                           
  Change on year                           
  Market          Current      End 2017    Pct Move
  Singapore       3329.82      3402.92     -2.15
  Bangkok         1700.6       1753.71     -3.03
  Manila          7657.77      8558.42     -10.52
  Jakarta         5953.813     6355.654    -6.32
  Kuala Lumpur    1765.14      1796.81     -1.76
  Ho Chi Minh     923.56       984.24      -6.17
 
 (Editing by Subhranshu Sahu)
  
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