* Thailand up for 4th straight session
* Singapore hits near one-week low
By Sumeet Gaikwad
Aug 30 (Reuters) - Most Southeast Asian stock markets inched
higher on Thursday, in line with broader Asia on expectations
negotiations over the North American Free Trade Agreement
(NAFTA) will lead to a further easing of global trade tensions.
Leaders of the United States and Canada expressed optimism
on Wednesday that they could reach new NAFTA deal by a Friday
deadline as negotiators prepared to talk through the night.
The White House said it wanted to settle NAFTA before
negotiating with China. The deadline for public comment on U.S.
President Donald Trump's tariffs on another $200 billion of
Chinese goods is on Sept. 5, with the new measures possibly
taking effect next month.
"While the U.S. demonstrates willingness to compromise on
NAFTA, according to Canada's foreign minister, market doubts
that whether the U.S. will keep the same negotiating stance when
it comes to China," Mizuho Bank said in a note.
Philippine shares rose to a three-week high, driven
by industrials and financials. Blue chips SM Investments Corp
and BDO Unibank climbed about 0.6 percent and 1
percent, respectively.
Malaysian shares were largely flat as gains in
consumer staples and energy offset losses in telecom stocks.
Dialog Group, which provides technical services to
the oil & gas sector, rose 1.5 percent, while Telekom Malaysia
slid over 6 percent after the company reported a sharp
drop in quarterly net profit on Wednesday.
Indonesian shares rose marginally, helped by
financial and material stocks. Bank Central Asia led
the gains, adding 1.1 percent, while packaging materials maker
Indah Kiat Pulp & Paper was a close second with a 1
percent rise.
Thai shares advanced for a fourth consecutive
session with financial and industrial stocks leading the gains.
Airports of Thailand was among the top contributors,
adding 0.8 percent, while Bank of Ayudhya rose over 1
percent.
Thailand will release July trade data on Friday.
Meanwhile, Singapore shares fell 0.7 percent, dragged
by financials and industrials. United Overseas Bank
was the biggest drag with a drop of 1.6 percent, while Jardine
Matheson Holdings slid 1.2 percent.
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SOUTHEAST ASIAN STOCK MARKETS: AS AT 0405GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3220.81 3243.92 -0.71
Bangkok 1727.18 1722.26 0.29
Manila 7855.42 7830.96 0.31
Jakarta 6075.184 6065.149 0.17
Kuala Lumpur 1819.16 1820.64 -0.08
Ho Chi Minh 985.88 988.17 -0.23
Change on year
Market Current End 2017 Pct Move
Singapore 3220.81 3402.92 -5.35
Bangkok 1727.18 1753.71 -1.51
Manila 7855.42 8558.42 -8.21
Jakarta 6075.184 6355.654 -4.41
Kuala Lumpur 1819.16 1796.81 1.24
Ho Chi Minh 985.88 984.24 0.17
(Reporting by Sumeet Gaikwad in Bengaluru; Editing by
Subhranshu Sahu)