November 26, 2018 / 10:06 AM / 20 days ago

SE Asia Stocks-Rise, Singapore leads gains

    * Investors brace for Trump-Xi meeting
    * Singapore rises most in over 3 weeks

    By Shreya Mariam Job
    Nov 26 (Reuters) - Southeast Asian stock markets closed
higher on Monday, in line with broader Asia, as investors braced
for a meeting between U.S. President Donald Trump and Chinese
President Xi Jinping at the end of the week.
    Trump and Xi are expected to meet on the sidelines of a G20
summit in Argentina on Nov. 30, to discuss contentious trade
matters.     
    "An agreement for talks over dinner suggests a higher level
of engagement, which could result in a gentlemen's agreement not
to escalate tariffs further," said Wei Liang Chang, a FX
strategist with Mizuho Bank.  
    "(Peter) Navarro, the (U.S.) Administration's most prominent
trade hawk, has been pointedly excluded for the Trump-Xi dinner.
If anything, this hints at American inclination to promote a
conducive environment for talks rather than ruffle feathers." 
    However, if the meeting does not result in any deals, the
U.S. tariffs on $200 billion goods, introduced in late
September, are likely to be raised to a proposed 25 percent next
year from 10 percent.
    Singapore stocks led the gains in Southeast Asia with
a 1.3 percent rise, the best since Nov. 2, after October factory
data beat expectations.
    The city-state's October factory output rose 4.3 percent on
year, much higher than a 2.3 percent growth predicted by a
Reuters survey. The growth was mainly attributable to a 15.8
percent rise in pharmaceutical production. 
    Gains were dominated by technology stocks, with Venture Corp
Ltd gaining 5.2 percent, while Singapore Airlines Ltd
 climbed 2.9 percent.
    Philippine shares closed 0.8 percent higher, with
industrials accounting for more than half of the gains. 
    Aboitiz Equity Ventures Inc surged 11.1 percent,
making it the biggest boost to the benchmark index, while SM
Prime Holdings Inc gained 2.2 percent.    
    "The (Philippine) market has been strong for the past couple
of sessions. The recent fall in crude oil price might be
offsetting some of the concerns with regard to inflation in the
Philippines," said Charles William Ang, an associate analyst
with COL Financial Inc. 
    Thai shares gained 0.5 percent, helped by financials
and real estate stocks. 
    Siam Commercial Bank PCL rose 2.2 percent, while
Airports of Thailand Pcl climbed 1.2 percent. 
    Meanwhile, gains in telecommunication services and basic
materials helped Malaysian shares close 0.4 percent
higher. 
    Petronas Dagangan Bhd rose 2.9 percent, while
Maxis Bhd added 2.3 percent.
    Indonesian shares gained 0.3 percent, aided by
financial and material stocks. Bank Central Asia Tbk PT
 and Bank Mandiri (Persero) Tbk PT rose 0.5
percent and 1 percent, respectively. 
       
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS:
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3093.38   3052.49         1.34
 Bangkok            1630.77   1622.1          0.53
 Manila             7397.87   7340.18         0.79
 Jakarta            6022.778  6006.202        0.28
 Kuala Lumpur       1701.99   1695.88         0.36
 Ho Chi Minh        921.03    917.97          0.33
                                              
 Change on year                               
 Market             Current   End prev yr     Pct Move
 Singapore          3093.38   3402.92         -9.10
 Bangkok            1630.77   1753.71         -7.01
 Manila             7397.87   8,558.42        -13.56
 Jakarta            6022.778  6,355.65        -5.24
 Kuala Lumpur       1701.99   1796.81         -5.28
 Ho Chi Minh        921.03    984.24          -6.42
                                              
 
 (Reporting by Shreya Mariam Job; Editing by Subhranshu Sahu)
  
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