December 5, 2019 / 4:32 AM / 2 months ago

SE Asia Stocks-Most gain on Sino-U.S. trade deal hopes; Philippines slips

    * Singapore snaps six sessions of declines
    * Indonesia hits highest in over 2 weeks
    * Industrial, real estate hurt Philippines  

    By Soumyajit Saha
    Dec 5 (Reuters) - Most Southeast Asian stock markets traded
higher on Thursday, lifted by signals that Washington and
Beijing were on course to reach a preliminary trade deal.
    Trade negotiations with China were going "very well", U.S.
President Donald Trump said on Wednesday, a day after suggesting
that a deal may not come until after the 2020 U.S. presidential
election. The comments had triggered declines in global markets
on Wednesday.
    "It appears that Trump's off the rails representation of
U.S.-China trade deal negotiations, having unduly flustered
earlier, triggered a knee-jerk relief response," Mizuho Bank
said in a note to clients.
   "The relief for now is welcome, but complacency is not. Fact
is, unpredictability looks like a mainstay in global affairs".
    Separately, media reports suggested the world's top two
economies were closer to agreeing on the amount of tariffs to be
rolled back in a phase-one trade deal.
    Shares in Singapore, considered a bellwether for
global trade conditions, snapped six sessions of declines.
    Gains in real estate stocks such as Capitaland and
consumer stocks like Wilmar International, both up
over 1%, propped up the index.
    Indonesian stocks hit their highest in over two
weeks, helped by consumer and banking stocks.
    Consumer goods company Unilever Indonesia rose
0.7%, while lender Bank Rakyat Indonesia (Persero)
advanced 1.5%.
    An index of the 45 most liquid stocks in Indonesia
gained 0.8%.
    But Philippine shares bucked the trend, down 0.3% on
losses in the industrial and real estate sectors.
    Inflation in the country accelerated to 1.3% in November
from a year earlier, matching expectations and higher than
October's 0.8% climb.
    Financial stocks helped Vietnam rise, while Malaysian
shares also benefited from gains in the consumer and
banking sectors.
    Markets in Thailand were closed for a public holiday.  
    
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SOUTHEAST ASIAN STOCK MARKETS
  STOCK MARKETS                                               
  Change on the day                                           
  Market                  Current       Previous     Pct Move
                                        close        
  Singapore               3176.12       3159.79      0.52
                                                     
  Manila                  7790.79       7815.93      -0.32
  Jakarta                 6143.165      6112.879     0.50
  Kuala Lumpur            1563.83       1560.93      0.19
 Ho Chi Minh              966.73        965.9        0.09
                                                     
  Change so far in 2019                              
  Market                  Current       End 2018     Pct Move
  Singapore               3176.12       3068.76      3.50
  Bangkok                 1565.45       1563.88      0.10
  Manila                  7790.79       7,466.02     4.35
  Jakarta                 6143.165      6,194.50     -0.83
  Kuala Lumpur            1563.83       1690.58      -7.50
  Ho Chi Minh             966.73        892.54       8.31
 
 (Reporting by Soumyajit Saha in Bengaluru; Editing by Sriraj
Kalluvila)
  
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