November 16, 2018 / 4:35 AM / a month ago

SE Asia Stocks-Climb on hopes of Sino-U.S. trade spat thaw

    * Philippines cenbank lifts borrowing costs by 175 basis
points
    * Indonesia rose 1.6 percent, set to close the week higher  
    * Malaysia's economy grew at an annual 4.4 percent pace in
Q3

    By Aman Swami
    Nov 16 (Reuters) - Philippine shares jumped on Friday after
the central bank raised its benchmark rate for the fifth
consecutive time, while Indonesian stocks extended surge, with
hopes for a thaw in Sino-U.S. trade friction boosting risk
sentiment in Southeast Asia.
    Asian share markets were supported on hopes of easing in the
ongoing Sino-U.S. trade relations, though there were duelling
reports on the prospects for an actual agreement.
    The back-and-forth exchange of trade tariffs and threats
between two of the world's leading economic powers stoked
investors to keep away from riskier assets in the emerging
markets this year, against the backdrop of wider concerns about
global growth. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.26 percent in early trade.
    Philippine shares rallied as much as 1.9 percent to
their highest in over a week, driven by gains in industrial and
financial sectors. The index was set to close firmer this week.
    The Philippine central bank raised its benchmark interest
rate for the fifth straight time on Thursday in a bid to tackle
elevated inflation.
    The country's biggest conglomerate SM Investments Corp
 climbed as much as 3.2 percent, while shares in BDO
Unibank Inc jumped up to 4.2 percent.
    Gains in financial and telecom sectors boosted the
Indonesian benchmark index, which was poised to end
higher for the week.
    Bank Central Asia Tbk PT and Telekomunikasi
Indonesia (Persero) Tbk added as much as 2.1 percent
and 4.9 percent respectively.
    Singapore stocks were on track to gain for a second
straight session, with conglomerates Sembcorp Industries Ltd
 and Jardine Matheson Holdings Ltd being the
top gainers.
    Malaysian shares were set to extend their winning
streak into a third session, with Sime Darby Bhd, the
world's largest palm oil planter by land size, and mobile phone
operator Axiata Group Bhd gaining the most.
    Malaysia's economy grew at an annual 4.4 percent pace in
July-September, the fourth straight quarter of slowing growth as
it grapples with weak external demand, data showed on Friday. 
  
    Thai shares edged higher, helped by stabilising oil
prices due to expected supply cuts from Organization of the
Petroleum Exporting Countries (OPEC), though record U.S.
production checked gains.       
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3082.22   3054.53         0.91
 Bangkok         1642.11   1638.83         0.20
 Manila          7081.38   6952.59         1.85
 Jakarta         6049.333  5955.736        1.57
 Kuala Lumpur    1706.95   1694.21         0.75
 Ho Chi Minh     898.06    897.15          0.10
                                           
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3082.22   3402.92         -9.42
 Bangkok         1642.11   1753.71         -6.36
 Manila          7081.38   8558.42         -17.26
 Jakarta         6049.333  6355.654        -4.82
 Kuala Lumpur    1706.95   1796.81         -5.00
 Ho Chi Minh     898.06    984.24          -8.76
 
 (Reporting by Aman Swami, Editing by Sherry Jacob-Phillips)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below