November 2, 2018 / 4:07 AM / 16 days ago

SE Asia Stocks-Rise; Singapore set for best week in over 2 years

    * Southeast Asian stock markets set for weekly gains
    * Singapore up 3.7 pct on the week, Thailand up 3 pct
    * Broader Asian equities tick up amid U.S.-China trade
optimism

    By Shanima A
    Nov 2 (Reuters) - Southeast Asian stock markets rose on
Friday and were headed for weekly gains, with Singapore set for
its best week in over two years.
    Singapore shares climbed as much as 1.2 percent in
the session, as broader Asian equities ticked up amid signs that
leaders of the world's two largest economies may be ready to
take measures to resolve their bitter trade dispute.
    "A thawing of relations could be underway, raising hopes
that contours of a trade deal could be reached with Trump and Xi
scheduled to meet this month", Mizuho Bank said in a note.
    Global investors were also awaiting the outcome of a raft of
data from the U.S. including trade balance, non-farm payroll and
factory orders due later in the day after the country's trade
deficit with China jumped to a record high in August.
    Singapore stocks were on pace to end a four-week losing run
with an about 3.7 percent gain on the week, their biggest weekly
percentage gain since July 2016. 
    The city-state's lender DBS Group Holdings Ltd
rose to a near two-week high in the session, while
Oversea-Chinese Banking Corp Ltd climbed about 3
percent. 
    Meanwhile, Thai shares rose to a two-week top and
were set to snap four straight weeks of declines with a more
than 3 percent weekly gain.
    The session's gains were led by lenders Siam Commercial Bank
 and Kasikornbank PCL, both rising more than
1 percent. 
    Indonesian shares were on track for their fourth
consecutive session of gains, boosted by financials and
materials stocks. 
    Bank Negara Indonesia (Persero) Tbk PT surged to
more than one-month top, while nickel miner Vale Indonesia Tbk
PT gained as much as 5.6 percent.
    Malaysian shares were little changed ahead of the
country's annual budget presentation, in which the newly elected
government led by Prime Minister Mahathir Mohamad is likely to
announce broad spending cuts.
    Telecom company Maxis Bhd rose 1.2 percent while
energy shipping services provider MISC Bhd declined
4.4 percent in their biggest intraday fall in more than four
months.
    The Philippine market was closed for a public holiday. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0358 GMT
    
  Market           Current       Previous close  Pct Move
  Singapore        3081.54       3060.85         0.68
  Bangkok          1677.46       1667.55         0.59
  Jakarta          5854.374      5835.92         0.32
  Kuala Lumpur     1706.23       1706.92         -0.04
  Ho Chi Minh      916.95        907.96          0.99
                                                 
  Change on year                                 
  Market           Current       End 2017        Pct Move
  Singapore        3081.54       3402.92         -9.44
  Bangkok          1677.46       1753.71         -4.35
  Jakarta          5854.374      6355.654        -7.89
  Kuala Lumpur     1706.23       1796.81         -5.04
  Ho Chi Minh      916.95        984.24          -6.84
 

 (Reporting by Shanima A in Bengaluru; Editing by Amrutha
Gayathri)
  
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