September 13, 2018 / 10:39 AM / 7 months ago

SE Asia Stocks-Rise on U.S.-China trade talks; Thailand jumps most in 2 years

    * Philippine snaps 6 sessions of losses
    * Vietnam extends gains for 5th straight day

    By Karthika Suresh Namboothiri
    Sept 13 (Reuters) - Southeast Asian stock markets rose on
Thursday tracking broader Asia on hopes that China and United
States could strike a deal on their tariff dispute in a new
round of trade talks, while Thailand recorded its biggest daily
gain in nearly two years.
    Asia shares ex-Japan snapped nine straight
sessions of declines after China said on Thursday that it
welcomed an invitation by the United States to hold a new round
of trade talks.
    The news comes as a relief at a time when the United States
is preparing to escalate the U.S.-China trade war with tariffs
on $200 billion worth of Chinese goods.
    Thai shares gained most, jumping more than 2 percent
on media reports that the country may hold general elections in
May 2019.
    "Clear progress on elections in H1-2019 would support the
macroeconomic outlook and impact sentiment," Standard Chartered
said in a research note.
    Energy stocks boosted the Thai index, with gas suppliers PPT
Public and PTT Exploration and Productions
rising about 4.5 percent each.
    Indonesian shares closed nearly 1 percent higher.
Telekom Indonesia and Bank Mandiri ended
over 3 percent higher.
    "The Indonesian market was one of the most hurt among
emerging markets and investors have been waiting for signs of
relief," said Taye Shim, head of research at Mirae Asset
Sekuritas in Jakarta.
    The resumption of the trade talks with China has helped fuel
investor confidence, he added.
    An index of the country's 45 most liquid stocks
gained 1 percent.
    Philippine shares ended 0.9 percent higher, snapping
six straight sessions of losses. Heavyweights JG Summit
closed nearly 5 percent higher and SM Prime Holdings
gained 2.7 percent.
    Singapore stocks rose 0.2 percent. DBS Group Holdings
 and Oversea-Chinese Banking Corp were up
about 0.8 percent each.

For Asian Companies click;  

 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3131.77   3124.65         0.23
 Bangkok         1717.96   1679.39         2.30
 Manila          7517.37   7449.2          0.92
 Jakarta         5858.274  5798.151        1.04
 Kuala Lumpur    1792.6    1785.25         0.41
 Ho Chi Minh     987.95    987.01          0.10
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3131.77   3402.92         -7.97
 Bangkok         1717.96   1753.71         -2.04
 Manila          7517.37   8558.42         -12.16
 Jakarta         5858.274  6355.654        -7.83
 Kuala Lumpur    1792.6    1796.81         -0.23
 Ho Chi Minh     987.95    984.24          0.38

 (Additional Reporting by Soumyajit Saha, Mensholong Lepcha in
Bengaluru and Orathai Sriring in Bangkok; Editing by Vyas Mohan)
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