December 5, 2019 / 9:59 AM / 3 months ago

SE Asia Stocks-Most rise on Sino-U.S. trade deal optimism; Philippines falls

    * Singapore snaps six sessions of declines
    * Rise in Nov. inflation hurts Philippines
    * Resource, banking stocks help Indonesia

    By Soumyajit Saha
    Dec 5 (Reuters) - Most Southeast Asian stock markets ended
higher on Thursday, with Indonesia leading the gains, buoyed by
hopes of a preliminary Sino-U.S. trade deal before further
tariffs kick in on Dec. 15.
    U.S. President Donald Trump on Wednesday raised expectations
of a breakthrough after he said negotiations with China were
"going very well," relieving some pressure in a week that has
seen the U.S. announce tariffs on multiple other countries.

    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.
    "However, until the day we see it (a trade deal) in black
and white, investors are likely to remain cautious and vigilant
on this matter," said Margaret Yang Yan, analyst at CMC Markets.
    Resource and banking stocks helped the Indonesian index
 rise the most in the region.
    Chemicals maker Chandra Asri Petrochemical
advanced 1.6%, while lender Bank Rakyat Indonesia (Persero)
 was 2.2% higher.
    An index of the 45 most liquid stocks in Indonesia
gained 1.3%.
    Singapore's benchmark index snapped six sessions of
losses, helped by gains in the real estate and consumer sectors.
    Real estate developer Capitaland rose 0.8%, while
agribusiness company Wilmar International was up 2.5%.
    Philippine stocks fell after the country's inflation
accelerated to 1.3% in November from a year earlier, higher than
October's 0.8% climb.
    "The inflation data was slightly higher than the state's
target, so there might be some dial back in the BSP's (Bangko
Sentral ng Pilipinas) easing measures, and the market is
reacting to that," said Rachelle Cruz, an analyst at
Manila-based AP Securities.
    The index was also dragged by big cap stocks like Ayala Land
 and Metro Pacific, after Philippine President
Rodrigo Duterte ordered here
 the filing of criminal charges against two water utilities
related to them.
    "The sentiment is negative for foreign investors if there is
political interference in businesses, especially as it is
related to water infrastructure," Rachelle added.
    Malaysian shares rose on gains in the consumer and
banking sectors, while Vietnam stocks were slightly
lower.
    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                3174.19       3159.79      0.46
                                                      
  Manila                   7790.91       7815.93      -0.32
  Jakarta                  6152.117      6112.879     0.64
  Kuala Lumpur             1563.58       1560.93      0.17
 Ho Chi Minh               963.27        965.9        -0.27
                                                      
  Change so far in 2019                               
  Market                   Current       End 2018     Pct Move
  Singapore                3174.19       3068.76      3.44
  Bangkok                  1565.45       1563.88      0.10
  Manila                   7790.91       7,466.02     4.35
  Jakarta                  6152.117      6,194.50     -0.68
  Kuala Lumpur             1563.58       1690.58      -7.51
  Ho Chi Minh              963.27        892.54       7.92
 
 (Reporting by Soumyajit Saha in Bengaluru; Editing by Rashmi
Aich)
  
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