September 13, 2019 / 4:12 AM / 5 days ago

SE Asia Stocks-Most gain as trade thaw, ECB stimulus trigger risk rally

    * U.S. President Trump considering an interim deal with
China
    * Malaysia on track to fall for a second session
    * The Philippine index hits a two-week high

    By Anushka Trivedi
    Sept 13 (Reuters) - Most Southeast Asian stock markets rose
on Friday, as signs of a de-escalation in the U.S.-China trade
friction and European Central Bank's aggressive push for fiscal
stimulus helped offset concerns about a global recession.
    Washington on Thursday was encouraged by Beijing's purchase
of U.S. farm goods, ahead of planned talks next week, with U.S.
President Donald Trump reportedly mulling the possibility of an
interim trade deal, which would postpone tariffs or even roll
back some of the existing ones.
    "Given that investors have been known to wear trade war
emotion on their sleeve, any steps by China and the U.S. to ease
tensions further ahead of face-to-face talks in Washington in
the coming weeks will be a green light of risk sentiment" said
Stephen Innes, Asia Pacific market strategist, AxiTrader.
    Markets worldwide also received a lift from ECB's decision
to cut rates by 10 bps and assurance of a renewed effort on the
fiscal policy front, such as resuming bond-buying programme. 
    Leading gains in the region, the Philippine index
advanced to its highest in two weeks, underpinned by
heavyweights SM Prime Holdings Inc and conglomerate SM
Investments Corp.
    Singapore's main bourse, which has been highly
sensitive to developments in the Sino-U.S. trade spat, gained
0.3% on the back of financial and industrial stocks. 
    Meanwhile, Vietnam and Indonesian shares were
trading marginally higher. 
    Bucking the upbeat trend, Malaysian stocks extended
declines to a second session, with losses in telecom service
providers Digi.com Bhd and Maxis Bhd denting
the index.
    Malaysian telecom firm Axiata Group Bhd and
Norway's Telenor ended talks last week, failing to
create a telecom joint venture, which saw Telenor's local unit
Digi.com mark its biggest intraday percentage drop in nearly
nine years.
    The market is still affected by the negative sentiment in
the telco sector and appreciation of the ringgit, with exporters
seeing declines in stocks such as Petronas Chemicals Group
, IHH Healthcare Bhd, among others, said
Redza Rahman, head of research, MIDF.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AT 0404 GMT
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3203.61   3194.96          0.27
 Bangkok                1659.56   1660.68         -0.07
 Manila                 7988.41   7944.43          0.55
 Jakarta                6345.491  6342.174         0.05
 Kuala Lumpur           1596.72   1601            -0.27
 Ho Chi Minh            977.56    976.07           0.15
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3203.61   3068.76         4.39
 Bangkok                1659.56   1563.88         6.12
 Manila                 7988.41   7,466.02        7.00
 Jakarta                6345.491  6,194.50        2.44
 Kuala Lumpur           1596.72   1690.58         -5.55
 Ho Chi Minh            977.56    892.54          9.53
 

 (Reporting by Anushka Trivedi in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
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