December 3, 2018 / 9:57 AM / 15 days ago

SE Asia Stocks-Surge after Sino-U.S. trade ceasefire

    * Singaporean shares end near two-month high
    * Vietnam leads gains in region

    By Shreya Mariam Job
    Dec 3 (Reuters) - Southeast Asian stocks surged on Monday,
tracking gains across broader Asia, after a truce in trade
relations between the United States and China.
    Vietnamese shares led gains in the region with a 2.7 percent
rise, while Singaporean and Philippine stocks also advanced by
more than 2 percent.
    Asian shares rallied and European and U.S. stocks were
expected to follow suit as the United States and China agreed to
halt additional tariffs, with further talks planned to reach an
agreement within 90 days.
    "Markets are short-term focused and should be buoyed by
immediate relief that the sizeable tariff hike in January has
been deferred," said Wei Liang Chang, an FX strategist at Mizuho
Bank.
    The Vietnam index was boosted by Petrovietnam Gas
Joint Stock Corp, which jumped 6.8 percent, and Vietnam
Dairy Products JSC, which climbed 4.4 percent.
    Singaporean shares clocked their highest close in
almost two months and marked a fourth successive session of
gains.
    Genting Singapore surged 7.2 percent, while
Venture Corp Ltd strengthened 8.1 percent.
    Philippine stocks snapped two sessions of losses to
end 2.2 percent higher. Industrial and real estate stocks
boosted the benchmark, with SM Investments Corp adding
4.4 percent and SM Prime Holdings Inc gaining 5.2
percent.
    Meanwhile, Thai shares were driven 1.9 percent
higher by energy and financial stocks.
    Inflation data for Thailand showed the annual headline
consumer price index rose 0.9 percent in November, marginally
falling short of the 1 percent rise predicted in a Reuters poll.

    Indonesian shares rose 1 percent, helped by consumer
staples and financial stocks.
    Indonesia also released inflation data, which showed a 3.23
percent rise in the annual consumer price index in November
compared with a year earlier, higher than the 3.15 percent
increase expected by analysts according to a Reuters poll.

    Unilever Indonesia Tbk PT rose 3.7 percent, while
Bank Negara Indonesia (Persero) Tbk PT climbed 2.9
percent.
    Malaysian stocks closed 1.2 percent higher,
strengthened by telecom and consumer non-cyclical shares.
        
For Asian Companies click:

SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                           
 Market             Current  Previous close  Pct Move
 Singapore          3190.62  3117.61         2.34
 Bangkok            1672.61  1641.8          1.88
 Manila             7532.9   7367.85         2.24
 Jakarta            6118.32  6056.124        1.03
 Kuala Lumpur       1699.72  1679.86         1.18
 Ho Chi Minh        951.59   926.54          2.70
                                             
 Change on year                              
 Market             Current  End prev yr     Pct Move
 Singapore          3190.62  3402.92         -6.24
 Bangkok            1672.61  1753.71         -4.62
 Manila             7532.9   8,558.42        -11.98
 Jakarta            6118.32  6,355.65        -3.73
 Kuala Lumpur       1699.72  1796.81         -5.40
 Ho Chi Minh        951.59   984.24          -3.32
                                             
 
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Sai
Sachin Ravikumar)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below