November 18, 2019 / 10:44 AM / 19 days ago

SE Asia Stocks-Singapore, Thailand rise on stimulus hopes; Philippines drops

    * Philippines closes at 4-week low, down 0.7%
    * Singapore exports shrink for eight straight month in
October
    * Thailand expands at slowest quarterly pace in a year in Q3

    By Arundhati Dutta
    Nov 18 (Reuters) - Singapore and Thailand markets rose on
Monday on hopes of stimulus measures following weak data from
both countries, while other regions were mixed amid lack of
concrete evidence on the progress in Sino-U.S. trade talks.
    Data on Monday showed Singapore's exports shrank for the
eighth straight month in October, with the country's important
electronic shipments steeply falling amid the trade
dispute.
    However, markets took the data as a sign that some measures
could follow soon.
    "We expect additional fiscal impetus in the upcoming
budget," DBS said in a note. "Instead of a short-term stimulus
package, the government will more likely roll out a robust
fiscal budget early next year."
    The index advanced 0.5%, with shipbuilder Yangzijiang
Shipbuilding (Holdings) rising 8% and real estate
operator City Developments Ltd adding 2.5%.
    Further aiding sentiment, China's central bank cut rates on
seven-day reverse repurchase agreements for the first time since
2015, fuelling speculation about further rate cuts from
Southeast Asia's biggest trading partner.
    The Thai benchmark climbed 0.4% after the country's
economy expanded at its slowest quarterly pace in a year,
stirring expectations that the slower-than-expected GDP growth
would open the doors for more fiscal stimulus.
    Malaysian equities added 0.6%, with hospital
operator IHH Healthcare rising 4% and mobile services
provider Digi.com gaining 3.2%. 
    Other markets in the region edged down as investors awaited
real evidence on U.S.-China trade deal negotiations, and as
rising political unrest in Hong Kong hurt risk sentiment.

    Chinese state media said that the two countries had
"constructive talks" on trade over the weekend, but neither side
gave details on the timing of a possible deal.
    Vietnam Philippines shares dropped 0.7% each.
    The Philippine index closed at its weakest level in over
four weeks. Weighing on the index were conglomerate Ayala Corp
 which lost 0.8%, and Bank of Philippine Islands
which skid 0.5%. 

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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3258.66   3238.86         0.61
 Bangkok                1608      1602.23         0.36
 Manila                 7880.94   7932.96         -0.66
 Jakarta                6122.625  6128.345        -0.09
 Kuala Lumpur           1604.36   1594.75         0.60
 Ho Chi Minh            1002.91   1010.03         -0.70
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3258.66   3068.76         6.19
 Bangkok                1608      1563.88         2.82
 Manila                 7880.94   7,466.02        5.56
 Jakarta                6122.625  6,194.50        -1.16
 Kuala Lumpur           1604.36   1690.58         -5.10
 Ho Chi Minh            1002.91   892.54          12.37
 


 (Reporting by Arundhati Dutta; editing by Uttaresh.V)
  
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