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Shreya Mariam Job

SE Asia Stocks-Most rise on hopes of thaw in Chinese-U.S. trade tensions

Sep 11 2019

* Singapore posts third straight gain * Indonesia rises to near 1-1/2 month high * Vietnam sole index in the red By Shreya Mariam Job Sept 11 Southeast Asian stock markets rose on Wednesday as China's announcement of exemptions on some U.S. products from duties buoyed hopes of a thaw in a trade war that has bruised global markets. China announced exemptions for 16 types of U.S. products from additional retaliatory duties, as trade negotiators from the two countries prepare to meet this month to try to de-escalate their protracted tariff row. Singapore stocks surged 1.6% posting its third straight gain supported by financials and real estate stocks. Real estate stocks got a boost from the Housing & Development Board (HDB) announcement https://www.hdb.gov.sg/cs/infoweb/press-release/more-affordable-and-accessible-homes-for-singaporeans of enhanced Central Provident Fund (CPF) housing grant for more affordable and accessible homes. "The higher CPF grant and income ceiling will improve the HDB resale and upgraders market. This is supportive for the private residential mass market," said Paul Chew, head of research at Phillip Securities Research. Shares of Hongkong Land Holdings Ltd and City Developments Ltd gained 3.7% and 2.4%, respectively. "Any revival of property transaction volumes will be supportive of mortgage loans which have been contracting in Singapore," he added. Shares of top lenders DBS Group Holdings and United Overseas Bank Ltd rose 1.4% and 2.3%, respectively. Malaysian stocks gained 0.4% after trading in a tight range during the day, as government data showed the industrial production index rising at its slowest in five years in July, boosting hopes of monetary easing. Malaysia's central bank is expected to keep its benchmark interest rate unchanged at a policy review on Thursday, a Reuters poll found, as it keeps room for potential easing later should global growth fall sharply. Indonesian stocks gained 0.7% closing at its highest level since July 31, buoyed by financial and consumer stocks. Astra International Tbk Pt rose 3.8% to a more than one-month closing high. Shares of Bank central Asia Tbk Pt gained 0.7%. Philippine stocks gained 0.5% on the back of real estate and utility stocks. Ayala Land Inc gained 2%, while Aboitiz Power Corp surged 2.4%. Financial and material stocks drove the Thai benchmark index 0.5% higher. Vietnam stocks bucked the trend, easing marginally. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3204.52 3155.71 1.55 Bangkok 1674.03 1665.93 0.49 Manila 7967.9 7929.48 0.48 Jakarta 6381.954 6336.673 0.71 Kuala Lumpur 1602.3 1595.85 0.40 Ho Chi Minh 969.31 970.26 -0.10 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3204.52 3068.76 4.42 Bangkok 1674.03 1563.88 7.04 Manila 7967.9 7,466.02 6.72 Jakarta 6381.954 6,194.50 3.03 Kuala Lumpur 1602.3 1690.58 -5.22 Ho Chi Minh 969.31 892.54 8.60 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Edmund Blair)

SE Asia Stocks-Most gain as hopes of trade deal, stimulus lift risk-on mode

Sep 11 2019

* Singapore leads gains in region, rises 1% * Malaysia July factory output below forecast * Vietnam bucks trend to trade lower By Shreya Mariam Job Sept 11 Most Southeast Asian stock markets edged higher on Wednesday, with Singapore leading gains, as expectations of a breakthrough in the Sino-U.S. trade dispute and more fiscal stimulus measures by major central banks lifted risk sentiment. The South China Morning Post reported https://www.scmp.com/news/china/diplomacy/article/3026585/countdown-trade-war-talks-china-ready-sweeten-deal-buying that China might agree to buy more American agricultural products, hoping for a better deal with the United States. However, a senior White House adviser tamped down expectations on Tuesday for the next round of U.S.-China trade talks, urging investors, businesses and the public to be patient about resolving the trade dispute between the world's two largest economies. Sentiment got a lift ahead of monetary policy decisions by the European central bank on Thursday and the U.S. Federal Reserve next week, with investors hoping for further easing amid a slowdown in global growth. Leading the region, Singapore stocks extended gains for a third session, underpinned by financial and real estate shares. Hongkong Land Holdings advanced 2.1%, while DBS Group Holdings hit its highest in more than a month. Real estate stocks got a boost after the Housing and Development Board (HDB) of Singapore enhanced https://www.hdb.gov.sg/cs/infoweb/press-release/more-affordable-and-accessible-homes-for-singaporeans the Central Provident Fund (CPF) housing grant to provide for affordable and accessible homes. "STI is up because news has been incrementally more positive. The higher CPF grant and income ceiling will improve the HDB resale and upgraders market. This is supportive for the private residential mass market," Paul Chew, head of research at Phillip Securities Research said. Meanwhile, Malaysian stocks traded relatively flat ahead of a monetary policy decision on Thursday, where the central bank is expected to keep its benchmark interest rate unchanged, according to a Reuters poll, as it keeps room for potential easing later should global growth fall sharply. The country's industrial production index rose at its slowest pace in five years in July as mining output slowed, government data showed on Wednesday. Thai stocks edged higher on broad-based gains, with Siam Commercial Bank climbing 1.3% and Kasikornbank rising 1.2%. The Philippine index eked out modest gains as strength in consumer shares offset losses in financial stocks. Bucking the trend, Vietnam stocks traded in the red. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS As at 0432 GMT Change on the day Market Current Previous close Pct Move Singapore 3187.76 3155.71 1.02 Bangkok 1666.09 1665.93 0.01 Manila 7943.42 7929.48 0.18 Jakarta 6337.866 6336.673 0.02 Kuala Lumpur 1597.08 1595.85 0.08 Ho Chi Minh 967.96 970.26 -0.24 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3187.76 3068.76 3.88 Bangkok 1666.09 1563.88 6.54 Manila 7943.42 7,466.02 6.39 Jakarta 6337.866 6,194.50 2.31 Kuala Lumpur 1597.08 1690.58 -5.53 Ho Chi Minh 967.96 892.54 8.45 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Sherry Jacob-Phillips)

SE Asia Stocks-Most edge lower as China factory-gate prices shrink

Sep 10 2019

* Philippines snaps four straight sessions of gains * Malaysia's Axiata hits over 4-month closing low By Shreya Mariam Job Sept 10 Most Southeast Asian stock markets reversed gains on Tuesday to close slightly lower as China's deepening factory deflation dampened investor sentiment, with Malaysia dragged lower by telecom giant Axiata. China, the region's biggest trading partner, saw factory-gate prices shrink at the sharpest pace in three years in August, falling deeper into deflationary territory and reinforcing the urgency for Beijing to step up economic stimulus. Malaysian stocks were the top losers in Southeast Asia, with Axiata Group Bhd shedding 15.8% to its lowest close in over four months after talks with Norway's Telenor to set up a joint venture fell through. "This removes the prospect for $5 billion of potential deal synergies," brokerage Jefferies said in a research note. Digi.com Bhd, a unit of Telenor, dropped 5.9%. Investors now await a central bank policy meeting on Thursday for clues on interest rates. A Reuters poll shows Bank Negara Malaysia is expected to keep its benchmark interest rate unchanged. Philippine stocks dropped 0.4%, snapping four straight sessions of gains, following weak trade data for July. The country's trade deficit widened to $3.39 billion in July from $2.47 billion in June. Financials dragged the benchmark stock index lower, with SM Prime Holdings Inc and Bank of the Philippine Islands shedding 1.2% and 2.7%, respectively. Vietnam shares fell 0.4%, dragged by consumer and financial stocks. Saigon Beer Alcohol Beverage Corp and BaoViet Holdings dipped 1.1% and 3.6%, respectively. Thai shares slipped 0.3%, pulled down by telecom and consumer stocks. Singapore and Indonesian stocks closed slightly higher. Singapore's Straits Times Index gained 0.3% on the back of industrials. "For the industrial sector, it helps that oil prices have stayed resilient during this period of time and are slowly trending higher, which bodes well for our offshore and marine sector," said Liu Jinshu, director of research at Tayrona Financial. Yangzijiang Shipbuilding Holdings Ltd gained 3.1%, while industrial conglomerate Jardine Matheson Holdings Ltd rose 1.8%. In Indonesia, financials helped the benchmark stock index close 0.2% higher. Retail sales grew 2.4% in July after a 1.8% decline a month earlier. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3155.71 3146.33 0.30 Bangkok 1665.93 1671.22 -0.32 Manila 7929.48 7960.12 -0.38 Jakarta 6336.673 6326.213 0.17 Kuala Lumpur 1595.85 1604.47 -0.54 Ho Chi Minh 970.26 974.12 -0.40 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3155.71 3068.76 2.83 Bangkok 1665.93 1563.88 6.53 Manila 7929.48 7,466.02 6.21 Jakarta 6336.673 6,194.50 2.30 Kuala Lumpur 1595.85 1690.58 -5.60 Ho Chi Minh 970.26 892.54 8.71 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Subhranshu Sahu)

SE Asia Stocks-Malaysia falls on Axiata; most others tick up

Sep 10 2019

* Axiata slumps to over four-month low * Philippines down after 4 sessions of gains By Shreya Mariam Job Sept 10 Malaysian stocks fell on Tuesday, dragged by telecom giant Axiata after talks with Norway's Telenor to create a joint venture collapsed, while most other Southeast Asian markets edged up in anticipation of monetary easing by major global central banks. Malaysia was the top loser in the region with a drop of 0.7%. The market was closed on Monday for a holiday. Axiata Group Bhd slumped as much as 17.8% to an over four-month low after the company and Norway's Telenor ended talks to create a telecoms joint venture with nearly 300 million customers across South Asia and Southeast Asia. "This removes the prospect for $5 billion of potential deal synergies," brokerage Jefferies said in a research note. Axiata also said it was considering the monetisation of its tower business, Edotco, through an initial public offering or other means, looking for consolidation in countries such as Indonesia and Bangladesh. Shares of Telenor's Malaysian subsidiary, Digi.com Bhd , plunged as much as 12.1%, their biggest intraday drop in nearly nine years. Philippine stocks traded lower after four straight sessions of gains, following poor trade data. Trade deficit widened to $3.39 billion in July from $2.47 billion in the previous month. Financial were among the top losers with SM Prime Holdings Inc shedding 1.1%, while Bank of the Philippine Islands shed 0.9%. Meanwhile, other equity markets in the region traded in positive territory as investors remained cautiously optimistic ahead of policy decisions from the European Central Bank and the U.S. Federal Reserve. "The summer of monetary love after Thursday's meeting may quickly fade to winter if Europe's economy continues to slow, inflation remains non-existent, and Europe's governments insist on keeping their heads in the fiscal sand," Jeffrey Halley, senior market analyst, Asia Pacific at OANDA, said in a note. Singapore stocks gained 0.3%, driven by industrials. Jardine Matheson Holdings Ltd gained 1.4%, while Jardine Strategic Holdings rose 1.7%. Thai shares climbed on financial and energy stocks. PTT PCL gained 0.6%, while Kasikornbank PCL gained 1.9% a day prior to the stock going ex-dividend. Vietnam shares inched higher, aided by financials. Joint Stock Commercial Bank for investment and Joint Stock Commercial Bank for Foreign Trade of Viet Nam gained 1.8% and 0.9%, respectively. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS: 0355 GMT Change on the day Market Current Previous close Pct Move Singapore 3156.62 3146.33 0.33 Bangkok 1673.71 1671.22 0.15 Manila 7908.28 7960.12 -0.65 Jakarta 6333.817 6326.213 0.12 Kuala Lumpur 1593.44 1604.47 -0.69 Ho Chi Minh 975.46 974.12 0.14 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3156.62 3068.76 2.86 Bangkok 1673.71 1563.88 7.02 Manila 7908.28 7,466.02 5.92 Jakarta 6333.817 6,194.50 2.25 Kuala Lumpur 1593.44 1690.58 -5.75 Ho Chi Minh 975.46 892.54 9.29 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Subhranshu Sahu)

SE Asia Stocks-Most edge higher in thin trade; Philippines top gainer

Sep 09 2019

* Philippines rises for 4th straight session * Vietnam's Vingroup rises on unit stake sale * Malaysia market closed for holiday By Shreya Mariam Job Sept 9 Southeast Asian stock markets closed slightly higher in thin-volume trade on Monday, as investors shrugged off an easing in lending norms by the Chinese central bank and waited for more clarity on monetary easing by other major central banks. Investors now await the European Central Bank policy meeting later this week and the Sept. 17-18 meeting of the U.S. Federal Reserve for clues on rates. Investor sentiment was however broadly positive as weak data out of the United States and China spurred hopes of further stimulus measures to prop up floundering economic growth in the world's two top economies. U.S. job growth slowed more than expected in August, with retail hiring declining for a seventh straight month. Economists said the report was consistent with an economy that was slowing. Meanwhile, China's exports unexpectedly fell in August, hurt by a slowdown in shipments to the United States, raising the case for more stimulus as the Sino-U.S. trade war drags on. The bleak data comes after central banks of both countries indicated a move toward sustaining economic growth. Federal Reserve Chair Jerome Powell said the Fed would continue to act "as appropriate" to sustain the economic expansion in the world's biggest economy. Meanwhile, the People's Bank of China said it was cutting the amount of cash that banks must hold as reserves for the third time this year, releasing 900 billion yuan ($126.35 billion) in liquidity to shore up the flagging economy. "Clearly, China is moving away from the direct prime-pump while focusing more on boosting consumption and structural reform. This may limit the spill-over effect of China's stimulus on the regional economies," OCBC said in a note to clients. Data also shows valuations of Asian shares took a hit in August after a sharp selloff due to an escalation in the Sino-U.S. trade war, with MSCI's broadest index of Asia-Pacific shares declining 3.4%. Philippine stocks closed 0.3% higher, extending gains into a fourth session, boosted by financials. SM Prime Holdings Inc gained 1.3%, while Bank of the Philippine Islands rose 4.2%. Vietnam shares closed little changed, with real estate conglomerate Vingroup JSC rising 1.2% after a consortium led by Singapore's state investor GIC Pte Ltd signed an agreement to buy a stake in one of its units for $500 million. Indonesian shares rose 0.3%, driven by consumer and energy stocks. United Tractors Tbk Pt rose 8%, while Charoen Pokphand Indonesia Tbk Pt advanced 5.5%. The Malaysian stock market was closed for a holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3146.33 3144.48 0.06 Bangkok 1671.22 1670.06 0.07 Manila 7960.12 7933.47 0.34 Jakarta 6326.213 6308.95 0.27 Ho Chi Minh 974.12 974.08 0.00 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3146.33 3068.76 2.53 Bangkok 1671.22 1563.88 6.86 Manila 7960.12 7,466.02 6.62 Jakarta 6326.213 6,194.50 2.13 Ho Chi Minh 974.12 892.54 9.14 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Subhranshu Sahu)

SE Asia Stocks-Most inch higher as bleak data spurs stimulus hopes

Sep 08 2019

* Philippines up for 4th straight day * Indonesia leads gains in the region * Malaysia markets closed for holiday By Shreya Mariam Job Sept 9 Most Southeast Asian stock markets inched higher on Monday as weak data from the United States and China spurred hopes of further stimulus measures to prop up slowing economic growth. Data released on Friday showed U.S. jobs growth slowed more than expected in August, while China's exports fell unexpectedly last month, hurt by a drop in shipments to the United States. Risk sentiment was also buoyed as central banks of both countries indicated their intention to work toward sustaining growth. U.S. Federal Reserve Chair Jerome Powell said the central bank would continue to act "as appropriate" to sustain the economic expansion in the world's biggest economy, while the People's Bank of China said it was cutting the amount of cash that banks must hold as reserves for the third time this year. "The latest move (reserve ratio cut) reflects the (Chinese) government's determination to use a combination of policy tools to stimulate the economy as it also looks to allow local governments to issue more bonds to fund infrastructure investment," Mizuho Bank said in a note to clients. Indonesian shares gained the most in Southeast Asia, helped by telecom and consumer stocks. Telekomunikasi Indonesia (Persero) Tbk Pt and Unilever Indonesia Tbk Pt rose 1.2% each. Philippine shares climbed 0.1%, extending gains into a fourth session, on financials. Ayala Corp edged up 0.4%, while BDO Unibank Inc gained 0.6%. Singapore shares inched higher on industrial and consumer stocks. Industrial conglomerate Jardine Matheson Holdings Ltd gained 0.8%, while retailer Dairy Farm International Holdings rose 0.6%. Malaysian financial markets were closed for a holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS As at 0358 GMT Change on the day Market Current Previous close Pct Move Singapore 3147.97 3144.48 0.11 Bangkok 1673.55 1670.06 0.21 Manila 7944.17 7933.47 0.13 Jakarta 6327.32 6308.95 0.29 Ho Chi Minh 973.98 974.08 -0.01 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3147.97 3068.76 2.58 Bangkok 1673.55 1563.88 7.01 Manila 7944.17 7,466.02 6.40 Jakarta 6327.32 6,194.50 2.14 Ho Chi Minh 973.98 892.54 9.12 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Subhranshu Sahu)

SE Asia Stocks-Most subdued on caution over U.S.-China trade talk outcome

Sep 06 2019

* Singapore posts first weekly gain in seven * Philippines snaps two weekly gains * Vietnam bucks trend to end lower By Shreya Mariam Job Sept 6 Most Southeast Asian stock markets ended slightly higher on Friday, paring most of its early gains, as investors turned cautious about concrete progress in U.S.-China trade relations. "The ongoing Sino-U.S. trade tension still consists of a huge unpredictability, as evident from the dramatic change in sentiments of late, and we expect strong volatility ahead as the current situation paints an image of imminent strong headwinds for global indices," Phillip Futures said in a note to clients. Philippine stocks maintained its lead among regional indexes, ending the session 0.5% higher. For the week, however, it dropped 0.6%, snapping two weekly gains. Hotel developer and operator Bloomberry Resorts Corp and real estate developer Robinsons Land Corp were the top gainers on the index, rising 3.9% and 2.9%, respectively. Malaysian stocks closed 0.3% higher, helped by industrial stocks. Port services provider MISC Bhd rose 3.5%, while Sime Darby Bhd gained 1.3%. Thai stocks ended the session little changed, with losses among telecom and industrial stocks offset by gains in financial and energy stocks. The country also unveiled a generous relocation package on Friday to attract foreign companies looking to move production because of the intensifying Sino-U.S. trade war. Meanwhile, Singapore stocks posted its first weekly gain in seven, but ended the session marginally lower. Gains among financial stocks were outweighed by losses in industrials. Vietnam, the most-favoured destination for manufacturing firms moving out of China to avoid tariffs, has not taken the news of talks between U.S. and China in October well, as the country's stock index fell 0.3%. Real estate and financials dragged the benchmark lower. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3144.48 3147.06 -0.08 Bangkok 1670.06 1669.79 0.02 Manila 7933.47 7898.19 0.45 Jakarta 6308.95 6306.803 0.03 Kuala Lumpur 1604.47 1599.75 0.30 Ho Chi Minh 974.08 976.79 -0.28 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3144.48 3068.76 2.47 Bangkok 1670.06 1563.88 6.79 Manila 7933.47 7,466.02 6.26 Jakarta 6308.95 6,194.50 1.85 Kuala Lumpur 1604.47 1690.58 -5.09 Ho Chi Minh 974.08 892.54 9.14 (Reporting by Shreya Mariam Job in Bengaluru; editing by Uttaresh.V)

SE Asia Stocks-Most rise on fresh trade-talk hopes; Philippines leads gains

Sep 06 2019

* Singapore set to post 1st weekly gain in 7 * Higher oil prices boost Thai energy stocks * Vietnam only market in the red By Shreya Mariam Job Sept 6 Most Southeast Asian stock markets tracked global peers higher on Friday, with Philippines leading gains, buoyed by optimism ahead of a fresh round of trade talks between United States and China. The fresh round of talks would be the first in-person, high-level discussions since a failed U.S.-China trade meeting at the end of July prompted U.S. President Donald Trump to proceed with fresh tariffs on virtually all remaining Chinese imports so far untouched by the trade war. "After rounds of tariff escalation, market has pared back expectation accordingly where resumption of talks itself may be good enough to spur risk appetite," a Mizuho Bank note said. The trade optimism has sent MSCI's broadest index of Asia-Pacific shares outside Japan up 0.2%, putting it on track for its best week since mid-June, with the positive sentiment spilling into regional markets as well. Philippine's benchmark index traded 0.6% higher to lead gains in the region, boosted by real estate and industrial stocks. But it was on track to post a weekly loss. Shares of Robinsons Land Corp and International Container Terminal Services Inc gained 3.9% and 2.1%, respectively. The Singapore index rose 0.5% and is set to post a near 2% weekly gain to snap six weeks of losses. Financial stocks supported gains on the benchmark index with shares of the city state's biggest lender DBS Group Holdings Ltd rising 0.6%, while its smaller banking peer Oversea-Chinese Banking Corp rose 0.7%. Thai stocks also climbed higher with energy stocks PTT PCL and PTT Exploration and Production PCL gained 0.6% and 2.1%. The rise in energy firms was brought on by higher oil prices, with crude benchmarks poised for multi-week gains amid a sharp drawdown in U.S. crude inventories. Meanwhile, the country plans a "relocation package" of incentives to attract foreign companies looking to move production from China, seeking to compete with Vietnam to woo manufacturers looking to steer clear of the Sino-U.S. trade war. Financial and energy stocks drove the Indonesian benchmark 0.3% higher with Bank Mandiri Tbk Pt rising 1.8% and coal miner Adaro Energy Tbk Pt rising 5.2% to its highest since July 18. The Malaysian index also inched marginally higher. Bucking the trend, Vietnam stocks edged slightly lower with real estate and financial stocks weighing. The country has been the top destination for firms that were relocating from China to avoid the backlash of the trade war. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS As at 0343 GMT Change on the day Market Current Previous close Pct Move Singapore 3162.99 3147.06 0.51 Bangkok 1676.6 1669.79 0.41 Manila 7946.6 7898.19 0.61 Jakarta 6326.041 6306.803 0.31 Kuala Lumpur 1603.32 1599.75 0.22 Ho Chi Minh 976 976.79 -0.08 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3162.99 3068.76 3.07 Bangkok 1676.6 1563.88 7.21 Manila 7946.6 7,466.02 6.44 Jakarta 6326.041 6,194.50 2.12 Kuala Lumpur 1603.32 1690.58 -5.16 Ho Chi Minh 976 892.54 9.35 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Rashmi Aich)

SE Asia Stocks-Most rise as U.S.-China trade talk plans buoy sentiment

Sep 05 2019

* Singapore posts third straight gain * Investors expect another rate cut in Philippines * Thai hits near one-month closing high By Shreya Mariam Job Sept 5 Most Southeast Asian stock markets rose on Thursday, with Philippines leading gains, as confirmation of talks between Beijing and Washington spurred hopes of a de-escalation in the trade war. China and the United States agreed to hold high-level trade talks in early October in Washington, amid fears that an escalating trade war could trigger a global economic recession. However, most of these markets pared some of their earlier gains. "The lift in risk sentiment appears mitigated by the concern that the latest positive developments surrounding these macro events (U.S.-China trade conflict, Brexit) may prove fleeting and do not yet fully nullify these downside risks," Han Tan, Market Analyst at FXTM said in a report. Philippine stocks rose as investor hopes of a third rate cut for the year were cemented by weak August inflation data. The country's consumer price index rose 1.7% in August from a year earlier, the weakest pace in nearly three years. Shares of casino operator Bloomberry resorts Corp rose to an over two-week high after President Rodrigo Duterte said on Wednesday that he was unwilling to ban gambling, as China has called for, because of the harm that would do to the country's economy. Thai stocks jumped 0.7% to a near one-month closing high, with energy stocks contributing most of the gains. Thailand's main stock exchange signed an agreement to develop an energy trading platform as part of a plan to become Southeast Asia's electricity trading hub. Shares of PTT PCL and PTT Exploration and Production PCL gained 1.2% and 3.4%, respectively. Indonesian stocks gained 0.6% on the back of consumer and financial stocks, with Astra International Tbk Pt and Unilever Indonesia Tbk Pt rising 3.1% and 1%, respectively. Singapore stocks gained for the third consecutive session, with industrials boosting gains. Jardine Strategic Holdings Ltd and Jardine Matheson Holdings Ltd gained 4.3% and 1%, respectively. Meanwhile, Malaysian and Vietnam stocks dipped marginally. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3147.06 3130.57 0.53 Bangkok 1669.79 1658.64 0.67 Manila 7898.19 7840.86 0.73 Jakarta 6306.803 6269.664 0.59 Kuala Lumpur 1599.75 1599.89 -0.01 Ho Chi Minh 976.79 977.63 -0.09 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3147.06 3068.76 2.55 Bangkok 1669.79 1563.88 6.77 Manila 7898.19 7,466.02 5.79 Jakarta 6306.803 6,194.50 1.81 Kuala Lumpur 1599.75 1690.58 -5.37 Ho Chi Minh 976.79 892.54 9.44 (Reporting by Shreya Mariam Job in Bengaluru; editing by Uttaresh.V)

SE Asia Stocks-Gain as Sino-U.S. trade-talk plans boost riskier assets

Sep 05 2019

* Singapore on track for a third straight gain * Philippines' August inflation below forecast * Thai index hits nearly one-month high By Shreya Mariam Job Sept 5 Southeast Asian stock markets rose on Thursday after China confirmed it would hold high-level trade talks with the United States in early October, buoying investor hopes of a de-escalation in the festering trade dispute. China's Commerce Ministry said its trade team will consult with their U.S. counterparts in mid-September in preparation for negotiations in early October, hinting at progress in reducing trade friction. Broader Asian shares traded higher with MSCI's broadest index of Asia-Pacific shares outside Japan up 0.8%. Investors welcomed signs that plans to resolve the trade row were making headway, with a trade-dependent Thailand being the biggest gainer in the Southeast Asian region. The Thai index advanced to its highest in nearly a month. The country's main stock exchange had signed an agreement to develop an energy trading platform as part of a plan to become Southeast Asia's electricity trading hub. Top energy stocks PTT PCL and PTT Exploration and Production gained 1.7% and 3.4%, respectively. Progress on the trade front also sparked a rally in Singapore, with the benchmark index on track for a third straight session of gains. Shares of Jardine Strategic Holdings climbed 0.9%, while those of United Overseas Bank Ltd rose 1.2%. The city-state's economy has been one among the hardest hit by the protracted trade war, with economists surveyed by the Monetary Authority of Singapore slashing their economic growth forecast from a rise of 2.1% in the June survey to a 0.6% increase. Philippine stocks gained 0.6% after a slowing inflation cemented expectations of a third interest rate cut this year. The country's consumer price index rose 1.7% in August from a year earlier, the weakest pace in nearly three years and below the 1.8% forecast in a Reuters poll. "With inflation benign and two straight downside surprises to GDP growth, we also expect the Bangko Sentral ng Pilipinas (BSP) to cut its policy rate by a further 25bps in Q4 this year," ANZ said in a note to clients. Shares of Ayala Corp rose 1.2%, while those of real estate firm Megaworld Corp advanced 3.6%. Consumer and financial stocks boosted the Indonesian benchmark index, with Astra International Tbk Pt and Bank Mandiri Tbk Pt gaining over 1% each. Vietnam stocks also edged higher, backed by financial and real estate shares. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS As at 0342 GMT Change on the day Market Current Previous close Pct Move Singapore 3150.25 3130.57 0.63 Bangkok 1670.49 1658.64 0.71 Manila 7888.05 7840.86 0.60 Jakarta 6296.734 6269.664 0.43 Kuala Lumpur 1601.95 1599.89 0.13 Ho Chi Minh 979.2 977.63 0.16 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3150.25 3068.76 2.66 Bangkok 1670.49 1563.88 6.82 Manila 7888.05 7,466.02 5.65 Jakarta 6296.734 6,194.50 1.65 Kuala Lumpur 1601.95 1690.58 -5.24 Ho Chi Minh 979.2 892.54 9.71 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Sherry Jacob-Phillips)

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