February 13, 2019 / 10:08 AM / 4 days ago

SE Asia Stocks-Singapore ends at over 4-mth high; Philippines continues slide

    * Singapore leads gains in Southeast Asia
    * Philippine shares decline for a fourth consecutive session

    By Anushka Trivedi
    Feb 13 (Reuters) - Singapore stocks closed at a more than
4-month high on Wednesday, leading the gains in Southeast Asia
after U.S. President Donald Trump said he could relax the China
trade deal deadline, while Philippines fell for the fourth
straight day.
    Trump said on Tuesday that he could let the March 1 deadline
to reach a trade agreement "slide for a little while," although
he added he was not inclined to do so. However, his remarks
spurred a rally in Wall Street overnight, as well as a number of
Asian players.
    The Singapore index, which has a high trade exposure
with China, outpaced its peers for the day with a 1.4 percent
rise, posting its highest close since Oct. 3, 2018. Financials
bolstered the benchmark with lender United Overseas Bank Ltd
 jumping 2.5 percent.
    The Thai index rose 0.8 percent, with energy stocks
leading broad-based gains as they garnered support from higher
oil prices after producer club OPEC announced a supply cut in
January.
    Shares of petroleum explorer PTT Exploration and Production
PCL advanced 2.1 percent, and were among the largest
boosts to the index.
    The Vietnam benchmark rose for the third day, closing
about 0.8 percent higher, driven by financial and consumer
stocks.
    However, the Philippine index, which has outperformed
its peers this year so far, declined for a fourth consecutive
session to end 1.1 percent lower, pressured by industrial and
financial stocks. 
    Industrial conglomerate JG Summit Holdings Inc
dropped 3.9 percent and was the top loser on the benchmark,
whereas BDO Unibank Inc fell 1.1 percent.
    Philippine's latest downturn appears to be a flow driven
correction due to international investors reallocating their
funds, said Rachelle C Cruz, an analyst with AP Securities.
    Meanwhile, Malaysian shares ended 0.1 percent lower
ahead of the country's fourth-quarter GDP figures release on
Thursday. 

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SOUTHEAST ASIAN STOCK MARKETS
 STOCK MARKETS                                
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3244.77   3201.15         1.36
 Bangkok            1655.73   1642.49         0.81
 Manila             7920.24   8009.92         -1.12
 Jakarta            6419.116  6426.325        -0.11
 Kuala Lumpur       1685.3    1687.41         -0.13
 Ho Chi Minh        945.25    937.54          0.82
                                              
 Change on year                               
 Market             Current   End 2018        Pct Move
 Singapore          3244.77   3068.76         5.74
 Bangkok            1655.73   1563.88         5.87
 Manila             7920.24   7466.02         6.08
 Jakarta            6419.116  6194.498        3.63
 Kuala Lumpur       1685.3    1690.58         -0.31
 Ho Chi Minh        945.25    892.54          5.91
 

 (Reporting by Anushka Trivedi in Bengaluru; Editing by Rashmi
Aich)
  
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