November 26, 2018 / 5:02 AM / 15 days ago

SE Asia Stocks-Singapore, Philippines gain, others subdued; G20 in focus

    * Sino-U.S. meeting at G20, Fed remarks in focus
    * Singapore factory data due later on Monday

    By Shreya Mariam Job
    Nov 26 (Reuters) - Singaporean and Philippine shares gained
almost 1 percent each on Monday while other markets in the
region were subdued, ahead of a meeting between U.S. and Chinese
leaders this week.
    Investors are bracing for the meeting at the G20 summit at
Buenos Aires beginning Friday, as a bitter trade war between the
United States and China shows no signs of easing.
    Singaporean stocks gained 0.9 percent, ahead of
factory data expected later on Monday. A Reuters poll shows that
the city-state's manufacturing output for October is expected to
be 2.3 percent higher from the previous year.
    Venture Corp Ltd jumped 5 percent, while Singapore
Airlines Ltd climbed 2.8 percent.
    "Sentiment (in South East Asian markets) is improving as
traders price in a smoother G20 summit and lower interest
rates," said Liu Jinshu, director of research at Singapore-based
equity research firm NRA Capital.
    The market is expecting a dovish tone from U.S. Federal
Reserve officials when they speak this week, following recent
financial market turmoil, said Paul Chew, head of research at
Singapore-based Phillip Securities Research.
    U.S. Federal Reserve Chair Jerome Powell will speak in New
York on Wednesday, while Vice Chair Richard Clarida's speech is
expected on Tuesday.
    Meanwhile, the Philippine benchmark index rose 0.98
percent to a two-month high, led by gains in industrials and
financials stocks.
    Aboitiz Equity Ventures rose 5 percent, while
Metropolitan Bank and Trust advanced 3 percent.
    A fall in oil prices pressured Thai energy stocks, pushing
the benchmark 0.2 percent lower.
    PTT PCL dipped 1 percent, while PTT Exploration and
Production PCL fell 2.7 percent.
    Oil prices steadied on Monday after plunging nearly 8
percent in the previous session, but remain under pressure amid
weak fundamentals and struggling financial markets.
    Malaysian stocks shed 0.3 percent, dragged lower by
consumer cyclicals and utilities stocks.
    Sime Darby Bhd and Sime Darby Plantation Bhd
 were the top drags on the index, falling 3.2 percent
and 2.1 percent, respectively.
    
For Asian Companies click:

SOUTHEAST ASIAN STOCK MARKETS AT 0407 GMT
 Market          Current   Previous close  Pct Move
 Singapore       3079.89   3052.49         0.90
 Bangkok         1618.67   1622.1          -0.21
 Manila          7412.13   7340.18         0.98
 Jakarta         6000.816  6006.202        -0.09
 Kuala Lumpur    1690.9    1695.88         -0.29
 Ho Chi Minh     917.59    917.97          -0.04
                                           
 Change on year                            
 Market          Current   End prev yr     Pct Move
 Singapore       3079.89   3402.92         -9.49
 Bangkok         1618.67   1753.71         -7.70
 Manila          7412.13   8,558.42        -13.39
 Jakarta         6000.816  6,355.65        -5.58
 Kuala Lumpur    1690.9    1796.81         -5.89
 Ho Chi Minh     917.59    984.24          -6.77
 
 (Reporting by Shreya Mariam Job in Bengaluru
Editing by Sai Sachin Ravikumar)
  
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