November 4, 2019 / 10:21 AM / 11 days ago

SE Asia Stocks-Most end higher on trade deal hopes, Thailand rises most

    * Thailand gains most in 11 months
    * Malaysia Sept. exports -6.8% y/y (Reuters poll: -0.1%)
    * Philippine shares hit over 3-month high

    By Sameer Manekar
    Nov 4 (Reuters) - Most Southeast Asian markets rose on
Monday, with Thailand leading gains, as investors took heart
from signs of progress in Sino-U.S. trade talks. 
    On Friday, the United States and China said they made
progress in talks to resolve a nearly 16-month long trade war
that has impacted economies across the world, with U.S.
officials saying a deal could be signed this month.
    Thai stocks jumped nearly 2%, closing at a near
2-week high.
    "Last week, the index ended below the 1600-point level. So,
there is some buying back into the stocks that is happening,
especially in big-cap sectors like banking and electrical," said
Teerada Charnyingyong, analyst at Phillip Capital Thailand.
    Also aiding sentiment was the expectation of a rate-cut by
the Bank of Thailand at its meeting on Wednesday to support
growth.
    Utilities and materials were among the biggest gainers, with
Gulf Energy Development PCL and PTT Global Chemical
PCL closing 5.9% and 5.4% higher, respectively.
    The Philippine bourse gained 1% to end at its highest
in over three months, lifted by financials and utilities firms.
    Index heavyweight SM Prime Holdings added 1.3%,
rising on upbeat quarterly results, while Manila Electric Co
 rose 2.5%.
    Malaysia's benchmark index gained 0.6%, shrugging
off a worse than expected decline in its September exports.
    The country's exports in September fell 6.8% from a year
ago, their biggest decline in nearly three years, widening from
the previous month's drop of 0.8%, and widely missing a Reuters
poll forecast of a 0.1% decline.
    Consumer and basic materials firms were among the top
gainers, while financials edged lower ahead of the central bank
meeting on Tuesday, where it is expected to keep its benchmark
rate unchanged, according to a Reuters poll.
    Indonesian shares finished 0.4% lower, posting their
third consecutive sessions of loss.
    Finance Minister Sri Mulyani Indrawati said that the
country's tax collection in the first nine months of 2019 had
been hurt by slowing economic activity, and estimated the 2019
fiscal deficit to widen to 2% of gross domestic product.

    Financial and consumer sectors were the biggest losers, with
Bank Central Asia and Unilever Indonesia
losing 0.7% and 1.5%, respectively.
    Singapore's Straits Times index pared some of the
early gains to finish 0.2% higher.
    Index heavyweights DBS Group Holdings and
Capitaland Ltd were up 1% and 1.1%, respectively.
    Vietnam stocks hit their highest in over one year, as
financials gained. Bank for Foreign Trade of Vietnam
closed at a record high.
    
For Asian Companies click; 
    
 SOUTHEAST ASIAN STOCK MARKETS 
  Change on the day                                          
  Market                   Current    Previous  Pct Move
                                      close     
  Singapore                3236.4     3229.43   0.22
  Bangkok                  1622.25    1592.52   1.87
  Manila                   8059.65    7977.12   1.03
  Jakarta                  6180.344   6207.191  -0.43
  Kuala Lumpur             1603.56    1593.34   0.64
 Ho Chi Minh               1022.43    1015.59   0.67
                                                
  Change so far in 2019                         
  Market                   Current    End 2018  Pct Move
  Singapore                3236.4     3068.76   5.46
  Bangkok                  1622.25    1563.88   3.73
  Manila                   8059.65    7,466.02  7.95
  Jakarta                  6180.344   6,194.50  -0.23
  Kuala Lumpur             1603.56    1690.58   -5.15
  Ho Chi Minh              1022.43    892.54    14.55
 

 (Reporting by Sameer Manekar in Bengaluru; editing by
Uttaresh.V)
  
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