September 11, 2019 / 9:59 AM / 7 months ago

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

    * 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 (Reuters) - 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 here
 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%,
    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;  

 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)
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