October 11, 2019 / 4:40 AM / 11 days ago

SE Asia Stocks-Gain as Sino-U.S. trade optimism boosts risk appetite

    * China, U.S. set for second day of high-level trade talks
    * World Bank cuts growth forecast for Philippines
    * Singapore set to close 0.8% higher on-week

    By Soumyajit Saha
    Oct 11 (Reuters) - Southeast Asian stock markets opened
higher on Friday, with Indonesia leading the gains, as revived
optimism over the ongoing Sino-U.S. trade talks boosted investor
sentiment.
    Market sentiment turned positive after a first day of trade
talks between top U.S. and Chinese negotiators that Trump
characterised as "very, very good."
    Chances of reaching "early harvest" agreements on issues
such as currencies and copyright protections were higher, a U.S.
Chamber of Commerce official said, while U.S. President Donald
Trump said senior U.S. delegates had "very, very good
negotiations with China".
   "All commentaries coming from the first day of talks seemed
to be helping the markets in the region, given this is something
everyone was waiting for," said Joel Ng, an analyst with KGI
Securities.
    Banking and resource sectors lifted the Indonesian index
 to its highest in more than two weeks.
    Bank Rakyat Indonesia (Persero) gained 0.8%, while
petrochemicals company Barito Pacific jumped 4%.
    An index of Indonesia's 45 most liquid stocks rose
0.8%.
    Philippine shares hit a two-week high, propped up by
gains in banking and real-estate sectors, and were set to end
1.6% firmer for the week.
    Citing pressure from the U.S.-China trade war, the World
Bank on Thursday cut its forecasts for economic growth in the
Philippines for 2019 and the next two years.  
    Singapore stocks were poised to mark a weekly gain of
0.8%, with index heavyweight United Overseas Bank
rising 1.4%. 
    Malaysian shares edged up after data on Friday
showed that the country's industrial production rose 1.9% in
August from a year earlier. The rise was a touch below the 2%
expansion forecast in a Reuters poll, while July's factory
output rose 1.2% on year.
        
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0420 GMT
  STOCK MARKETS                                             
  Change on the day                                         
  Market             Current        Previous      Pct Move
                                    close         
  Singapore          3110.62        3089.48       0.68
  Bangkok            1616.5         1607.5        0.56
  Manila             7825.09        7765.03       0.77
  Jakarta            6085.168       6023.641      1.02
  Kuala Lumpur       1555.49        1551.87       0.23
 Ho Chi Minh         988.14         987.38        0.08
                                                  
  Change so far in                                
 2019                                             
  Market             Current        End 2018      Pct Move
  Singapore          3110.62        3068.76       1.36
  Bangkok            1616.5         1563.88       3.36
  Manila             7825.09        7,466.02      4.81
  Jakarta            6085.168       6,194.50      -1.76
  Kuala Lumpur       1555.49        1690.58       -7.99
  Ho Chi Minh        988.14         892.54        10.71
 
 (Reporting by Soumyajit Saha in Bengaluru, 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