January 9, 2019 / 3:30 AM / 2 months ago

SE Asia Stocks-Climb as U.S. and China inch toward trade deal

    * Philippine stocks gain 2 pct
    * Indonesia, Thailand rise for fourth straight session
    * China inflation data due Thursday

    By Niyati Shetty
    Jan 9 (Reuters) - Southeast Asian stock markets rose on
Wednesday as further headway in U.S.-China trade talks increased
chances of the two nations striking a deal to end the long-drawn
confrontation, lifting uncertainty from the market.
    U.S. and Chinese officials are continuing negotiations in
China for an unscheduled third day amid signs of progress on
issues including purchases of U.S. commodities and greater
access to China's markets.
    Boosting sentiment, U.S. President Donald Trump tweeted that
the talks were going very well, with Bloomberg reporting on
Wednesday that the president is eager to agree on a deal with
China soon in an effort to soothe financial markets. 
    "Market players continued to place their hopes on the
ongoing US-China trade for some positive breakthrough," said
ING, in a note to clients. 
    Leading the regional gains, Philippine stocks
recovered from last session's decline to climb as much as 2
percent. 
    Industrial and financial stocks supported the Manila index,
with SM Investments Corp and Ayala Corp
advancing 2.8 percent each.
    The archipelago's November trade data is due later in the
week.
    Meanwhile, the Singapore index hit a more than five
week high and extended gains for a fourth straight session.
Conglomerate Jardine Matheson Holdings Ltd rose 2.7
percent, its highest in more than five years.    
    Indonesian benchmark index gained up to 0.9 percent
buoyed by the financials sector. Bank Central Asia
rose as much as 1.5 percent and Bank Mandiri (Persero)
climbed 2.7 percent. 
    In a positive twist to the trade war, Indonesian vice
president on Tuesday said that the U.S.-China conflict could
offer an opportunity for the country to benefit from shifting
global production chains. 
    Thai stocks gained for a fourth consecutive session,
while Malaysian index advanced as much as 0.7 percent. 
    Markets await Chinese inflation data which is due on
Thursday, as the world's second largest economy begins to show
signs of slowing. 
   
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0307 GMT
   
 Market                 Current   Previous close  Pct Move
 Singapore              3151.53   3122.94         0.92
 Bangkok                1607.91   1594            0.87
 Manila                 7841.85   7702.12         1.81
 Jakarta                6304.015  6262.847        0.66
 Kuala Lumpur           1681.51   1672.76         0.52
 Ho Chi Minh            891.61    887.44          0.47
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3151.53   3068.76         2.70
 Bangkok                1607.91   1563.88         2.82
 Manila                 7841.85   7,466.02        5.03
 Jakarta                6304.015  6,194.50        1.77
 Kuala Lumpur           1681.51   1690.58         -0.54
 Ho Chi Minh            891.61    892.54          -0.10
 

 (Reporting by Niyati Shetty; Editing by Sunil Nair)
  
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