January 10, 2019 / 10:03 AM / 2 months ago

SE Asia Stocks-Most climb as markets await Sino-US trade talk details

    * Indonesia stocks rise nearly 1 pct
    * Singapore gains for fifth session
    * Thai stocks only losers in region

    By Niyati Shetty
    Jan 10 (Reuters) - Most Southeast Asian stock markets closed
higher on Thursday as investors awaited more details on the
Sino-U.S. trade talks, while growing optimism that the U.S.
Federal Reserve might adopt a more dovish stance this year
boosted investor sentiment as well.
    China's commerce ministry said trade negotiations between
China and the United States this week were extensive, and helped
establish a foundation for the resolution of each other's
concerns, but gave no details on the issues at stake.

    The negotiations, which lasted for three days, saw
Washington and Beijing officials discuss "ways to achieve
fairness, reciprocity and balance in trade relations."
    "The spillover boost from continued optimism about
U.S.-China trade talks is buoying sentiment," Vishnu Varathan, a
senior economist with Mizuho Bank, said in a note.
    Meanwhile, minutes of the Dec. 18-19 Fed policy meeting
showed a range of policymaker urge patience on future rate hikes
by the central bank, further boosting market
sentiment.
    The Fed last year hiked interest rates four times, in a move
that saw investors selloff riskier Asian assets. 
    "The takeaway is that the Fed is patient about assessing
evolving global growth/financial market conditions, as well as
patient about taking stock of tightening so far," Varathan said
in the note. 
    Indonesian shares rose 0.9 percent, supported by the
material and telecom sectors. Semen Indonesia (Persero) Tbk PT
 and Telekomunikasi Indonesia (Persero) Tbk
gained 6.5 percent and 1.9 percent, respectively.
    Philippine shares climbed 0.8 percent after
government data showed trade deficit narrowed in November.

    Index heavyweights SM Prime Holdings Inc and BDO
Unibank Inc rose 1.8 percent and 0.8 percent, 
respectively.
    Singapore shares also closed higher, extending gains
into a fifth session. DBS Group Holdings Ltd and
United Overseas Bank Ltd advanced 0.8 percent and 1
percent, respectively.
    Thai shares were the only losers in Southeast Asia,
dragged down by telecom and financial stocks.
    The deviation was mainly due to profit-taking ahead of the
earning results of banks in the next few weeks, said Teerada
Charnyingyong, an analyst with Phillip Securities Thailand.
    "I think the market overall is still fragile, so the
response to any news is taking profits," she said.
    Shares of Total Access Communication Plc fell 9.2
percent after the company said it agreed to pay CAT Telecom Pcl
9.51 billion baht ($297.93 million) for settlement of disputes.

         
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SOUTHEAST ASIAN STOCK MARKETSnFWN1Z91A3
    
 Market                 Current   Previous close  Pct Move
 Singapore              3183.51   3158.07         0.81
 Bangkok                1587.63   1590.5          -0.18
 Manila                 7985.23   7919.67         0.83
 Jakarta                6328.714  6272.238        0.90
 Kuala Lumpur           1678.88   1667.83         0.66
 Ho Chi Minh            898.3     896.99          0.15
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3183.51   3068.76         3.74
 Bangkok                1587.63   1563.88         1.52
 Manila                 7985.23   7,466.02        6.95
 Jakarta                6328.714  6,194.50        2.17
 Kuala Lumpur           1678.88   1690.58         -0.69
 Ho Chi Minh            898.3     892.54          0.65
 

($1 = 31.9200 baht)

 (Reporting by Niyati Shetty and Soumyajit Saha in Bengaluru;
Editing by Subhranshu Sahu)
  
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