April 11, 2018 / 4:33 AM / 8 months ago

SE Asia Stocks-Most rise as Xi, Trump strike conciliatory tone on trade

    * Wall Street posts strong gains overnight
    * Asian shares ex-Japan edge higher on Wednesday
    * Indonesian shares hit one-month high

    By Nicole Pinto
    April 11 (Reuters) - Most Southeast Asian stock markets
gained on Wednesday as U.S. President Donald Trump struck a
conciliatory tone in response to Chinese President Xi Jinping's
promise to open China's economy further, easing trade tensions.
    Wall Street posted strong gains overnight, boosting ex-Japan
Asian shares on Wednesday, on hopes of a compromise between
Washington and Beijing on trade tariffs.
    "Risk sentiment picked up after President Xi's speech at
Boao," Mizuho Bank analysts wrote in a note.
    "Markets are thus latching to more conducive conditions for
U.S.-China trade negotiations, but the absence of specifics in
Xi's speech may not be enough to quell U.S. trade hawks."    
    Indonesian shares climbed nearly 0.9 percent to an
over one-month high. Astra International Tbk PT gained
as much as 1.9 percent, while Bank Permata Tbk PT fell
2.5 percent.
    Philippine shares pared a 0.7 percent gain earlier in
the session and were trading largely flat. SM Investments Corp
 climbed 1.5 percent to an over one-month high, while
Ayala Land Inc fell 1.8 percent. 
    Philippine exports in February fell for the first time since
November 2016, down 1.8 percent to $4.66 billion from a year
earlier, while imports rose 18.6 percent at $7.72 billion, data
from the Philippine Statistics Authority showed.
    Malaysian shares rose 0.5 percent and were on track
for a fifth straight session of gains. 
    The country's industrial production rose 3 percent in
February from a year earlier, supported by growth in the
manufacturing and electricity generation sectors, government
data showed.
    February's output growth was slightly below the 3.4 percent
annual rise forecast in a Reuters poll.
    Meanwhile, China's annual consumer inflation slowed to 2.1
percent in March, lagging economists' forecasts, official data
showed.
    
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SOUTHEAST ASIAN STOCK MARKETS: Change as at 0415 GMT
                 Current   Previous Close  Pct Move
 Singapore       3482.13   3466.38         0.45
 Bangkok         1769.28   1760.95         0.47
 Manila          7933.99   7934.68         -0.01
 Jakarta         6357.366  6325.818        0.50
 Kuala Lumpur    1868.27   1860.98         0.39
 Ho Chi Minh     1195.97   1198.12         -0.18
                                           
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3482.13   3402.92         2.33
 Bangkok         1769.28   1753.71         0.89
 Manila          7933.99   8558.42         -7.30
 Jakarta         6357.366  6355.654        0.03
 Kuala Lumpur    1868.27   1796.81         3.98
 Ho Chi Minh     1195.97   984.24          21.51
 

 (Reporting by Nicole Pinto; Editing by Amrutha Gayathri)
  
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