April 4, 2019 / 3:40 AM / 5 months ago

SE Asia Stocks-Most subdued; investors await development on trade talks

    * Singapore up for sixth straight session
    * Malaysia Feb trade data due later in day

    By Shreya Mariam Job
    April 4 (Reuters) - Most Southeast Asian stock markets were
subdued on Thursday as investors adopted a wait-and-see stance
awaiting further developments on the Sino-U.S. trade talks.
    Trade talks between the United States and China made "good
headway" last week in Beijing and the two sides aim to bridge
differences during talks that could extend beyond three days
this week, White House economic adviser Larry Kudlow said.

    "Risk sentiment will likely be mixed on Thursday as
investors digest developments on the trade front amid
disappointing US economic numbers," ING said in a note. 
    Singapore stocks edged higher, heading for a sixth
straight session of gains, supported by banks, while a 7 percent
fall in Genting Singapore Ltd capped the upside.
    Resorts World at Sentosa Pte Ltd, an indirect unit of
Genting Singapore, has committed to invest about S$4.5 billion 
($3.32 billion) for the expansion of the integrated resort on
the island of Sentosa.
    Malaysia-listed Genting Bhd, the parent company of
Genting Singapore, dropped 2.5 percent. 
    DBS Holdings Group Ltd, Oversea-Chinese Banking
Corp Ltd and United Overseas Bank Ltd rose
0.2 percent to 1 percent.
    Malaysian stocks traded on the fence ahead of
February trade data expected later in the day. 
    Malaysia's exports likely rose 1.4 percent in February from
a year earlier, slower than the previous month, a Reuters poll
showed.
    Meanwhile, Malaysia will sell a superyacht allegedly bought
with stolen funds from state fund 1MDB to casino operator
Genting Malaysia Bhd for $126 million, in the first
major asset sale by Kuala Lumpur to recover billions lost from
the fund.
    Shares of Genting Malaysia dipped 1.5 percent. 
    Indonesian shares rose marginally on the back of
financial and telecom stocks. Telekomunikasi Indonesia
climbed 1 percent and Bank Central Asia Tbk Pt firmed
0.6 percent. 
    Philippine shares slipped 0.5 percent, dragged by
industrials and financials. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS As at 0335 GMT
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3308.63   3311.27         -0.08
 Bangkok                1649.75   1649.06         0.04
 Manila                 7857.04   7895.06         -0.48
 Jakarta                6491.893  6476.066        0.24
 Kuala Lumpur           1642.2    1643.21         -0.06
 Ho Chi Minh            988.85    984.46          0.45
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3308.63   3068.76         7.82
 Bangkok                1649.75   1563.88         5.49
 Manila                 7857.04   7,466.02        5.24
 Jakarta                6491.893  6,194.50        4.80
 Kuala Lumpur           1642.2    1690.58         -2.86
 Ho Chi Minh            988.85    892.54          10.79
 
($1 = 1.3536 Singapore dollars)

 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)
  
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