December 27, 2018 / 9:53 AM / 7 months ago

SE Asia Stocks-Most end higher following Wall St recovery, Sino-U.S. talks

    * Singapore leads gains
    * Thai stocks buck the trend in last-minute sell-off
    * Indonesia ends at over 8-month high

    By Ambar Warrick
    Dec 27 (Reuters) - Most Southeast Asian stock markets ended
Thursday higher as a rally on Wall Street, coupled with a leeway
in the Sino-U.S. trade standoff spurred a buying spree across
Asia.
    Wall Street recovered from a severe equity rout that had
battered most global markets. Investors also took heart from
news that China and the U.S. had made plans for face-to-face
consultation over trade in January.
    Singapore led gains, ending 1.1 percent higher with
heavyweight industrial and financial stocks in the lead. The
index rebounded from a 1 percent loss on Wednesday, having lost
more than 2 percent so far in December. 
    Industrial conglomerate Jardine Strategic ended 3.6
percent higher, while lender DBS Group  gained 0.7
percent.
    "Stocks are taking their cue from overnight gains on Wall
Street. I think the rebound is due to the situation where much
downside has already been priced in and the risk is to the
upside with trade talks restarting in January," said Liu Jinshu,
director of research at NRA Capital in Singapore.
    Vietnam shares ended around 1 percent higher, with financial
and utility stocks leading broad-based gains.
    Data showed that the country's economy grew at its quickest
pace this year since 2011, with key growth in the processing and
manufacturing industry.
    Joint Stock Commercial Bank for Investment and Development
of Vietnam and Petrovietnam Gas Joint Stock Corp
 both ended about 4.2 percent higher.
    Indonesian stocks ended at their highest since
late-April, with consumer staples and materials stocks in the
lead. Cosmetics maker Unilever Indonesia rose 2.4
percent, while cement maker Indocement Tunggal Prakarsa
 ended 2.5 percent higher. 
    Bucking the trend, Thai stocks retreated from
intraday highs in late trade to end the session 0.5 percent
lower following last-minute sell-offs in a number of sectors.
    Bangkok Dusit Medical Services PCL ended 6.7
percent lower, its worst session since May 2017
     
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SOUTHEAST ASIAN STOCK MARKETS
 STOCK MARKETS                                
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3044.74   3011.15         1.12
 Bangkok            1548.37   1556.93         -0.55
 Manila             7482.66   7450.01         0.44
 Jakarta            6190.643  6127.85         1.02
 Kuala Lumpur       1690.72   1672.6          1.08
 Ho Chi Minh        900.81    891.75          1.02
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3044.74   3402.92         -10.53
 Bangkok            1548.37   1753.71         -11.71
 Manila             7482.66   8558.42         -12.57
 Jakarta            6190.643  6355.654        -2.60
 Kuala Lumpur       1690.72   1796.81         -5.90
 Ho Chi Minh        900.81    984.24          -8.48
                                              
 

 (Reporting by Ambar Warrick; Editing by Sunil Nair)
  
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