November 2, 2018 / 9:53 AM / a month ago

SE Asia Stocks-End firmer; Singapore, Thailand post best week in 2-1/2 years

    * All Southeast Asian markets gain on the week 
    * Singapore posts 4.9 pct weekly gain
    * Malaysia sets 2019 budget allocation at 314.6 bln rgt vs
290.4
bln rgt for 2018

    By Shanima A
    Nov 2 (Reuters) - Southeast Asian stock markets ended higher
on Friday after trade war friction between two of the world's
largest economies showed signs of easing, with Singapore and
Thailand logging their biggest weekly gains in two and a half
years. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 climbed their highest in three weeks on reports
that U.S. President Donald Trump is interested in reaching a
trade agreement with his Chinese counterpart Xi Jinping at the
Group of 20 nations summit in Argentina later this month.

    Foreign investors pulled the most money out of emerging
market stocks - $12.3 billion - in October since the 'taper
tantrum' panic of 2013, figures from the Institute of
International Finance showed.
    However, all Southeast Asian markets posted weekly gains,
boosted by prospects of a Sino-U.S. trade deal and
bargain-buying.
    "Sentiment has been improving since late last week. Traders
are thinking there might be a positive outcome to the trade
negotiations between the United States and China", Liu Jinshu,
director of research, NRA Capital said.
    Singapore shares ended 1.8 percent higher. For the
week, the city-state posted a gain of 4.9 percent, and its
biggest gain since March 2016.
    Shares of index heavyweight DBS Group Holdings Ltd
hit their highest close in more than three weeks, while
Oversea-Chinese Banking Corp Ltd closed 2.9 percent
higher.
    Boosted by robust gains in the banking and real estate
sector, Vietnam shares ended 1.9 percent firmer. 
    Thai shares ended the session higher, and closed 3.3
percent firmer for the week. Snapping four weekly losses, the
index marked its best week since February 2016.
    Indonesian shares extended their gains to a fourth
consecutive session, supported by consumer staples and
financials stocks. Cigarettes maker Gudang Garam Tbk PT
 closed 6.6 percent higher, while Bank Central Asia Tbk
PT ended at a more-than-two-week peak. 
    Meanwhile, Malaysian shares trimmed early gains to
end 0.4 percent higher after a wider fiscal deficit was
announced in the country's annual budget.
    A Reuters poll showed Malaysia's trade surplus to widen to
7.3 billion ringgit in September, from 1.6 billion ringgit in
August. The country's trade data is due on Monday.
    Philippines market was closed for a public holiday. 
 
    For Asian Companies click;  

    SOUTHEAST ASIAN STOCK MARKETS
    
  Market           Current       Previous close  Pct Move
  Singapore        3116.39       3060.85         1.81
  Bangkok          1681.84       1667.55         0.86
  Jakarta          5906.292      5835.92         1.21
  Kuala Lumpur     1713.87       1706.92         0.41
  Ho Chi Minh      924.86        907.96          1.86
                                                 
  Change on year                                 
  Market           Current       End 2017        Pct Move
  Singapore        3116.39       3402.92         -8.42
  Bangkok          1681.84       1753.71         -4.10
  Jakarta          5906.292      6355.654        -7.07
  Kuala Lumpur     1713.87       1796.81         -4.62
  Ho Chi Minh      924.86        984.24          -6.03
 
    

 (Reporting by Shanima A in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
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