October 8, 2019 / 9:50 AM / a month ago

SE Asia Stocks-Most end higher as markets hopeful on Sino-U.S. trade talks

    * Singapore lifted by industrials
    * China services sector growth data disappoints
    * Philippines at highest close in over a week

    By Soumyajit Saha
    Oct 8 (Reuters) - Most Southeast Asian stock markets ended
higher on Tuesday as investors turned their focus to Sino-U.S.
trade talks due later this week, hoping that further tariffs
between the world's two biggest economies can be avoided.
    China, Southeast Asia's biggest trading partner, and the
United States will on Thursday look to work on resolving a
tit-for-tat tariff war that has battered economies worldwide,
with markets looking for signs of resolution during the first
minister-level negotiations in months.
    Equities markets in China rose after a week-long holiday.
    "Price action suggests the markets are expecting, at the
very least, further tariffs to be deferred," Stephen Innes, Asia
Pacific market strategist, AxiTrader said in a note to clients.
    Weak U.S. manufacturing data along with continued signs of
weakness in the Chinese economy provide incentives for a
temporary deal, Innes added.
    Earlier in the day, data from a private survey showed that
China's services sector grew at its slowest pace in seven months
in September.
    Banking and consumer sectors helped the Philippine index
 rise to its highest close in more than a week. 
    Conglomerate SM Investments Corp gained 2.1%, while
lender BDO Unibank was up 3.3%.
    Indonesian stocks rose after falling about 1% in the
previous session, propped up by gains in the banking and
consumer sectors. 
    Lender Bank Mandiri (Persero) rose 2.4%, while
consumer goods manufacturer Unilever Indonesia climbed
1.7%. 
   An index of Indonesia's 45 most liquid stocks was
up 0.75%
    Singapore shares advanced, helped by gains in the
industrial sector. Jardine Matheson Holdings was up
1.6%, while Jardine Strategic Holdings rose 1.2%    
    
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SOUTHEAST ASIAN STOCK MARKETS
  STOCK MARKETS                                             
  Change on the day                                         
  Market             Current        Previous      Pct Move
                                    close         
  Singapore          3110.85        3099.48       0.37
  Bangkok            1612.17        1613.71       -0.10
  Manila             7756.72        7683.22       0.96
  Jakarta            6039.601       6000.582      0.65
  Kuala Lumpur       1558.79        1559          -0.01
 Ho Chi Minh         988.22         983.09        0.52
                                                  
  Change so far in                                
 2019                                             
  Market             Current        End 2018      Pct Move
  Singapore          3110.85        3068.76       1.37
  Bangkok            1612.17        1563.88       3.09
  Manila             7756.72        7,466.02      3.89
  Jakarta            6039.601       6,194.50      -2.50
  Kuala Lumpur       1558.79        1690.58       -7.80
  Ho Chi Minh        988.22         892.54        10.72
 
 (Reporting by Soumyajit Saha in Bengaluru; Editing by Susan
Fenton)
  
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