Edition:
United Kingdom

Sameer Manekar

Australia's Panoramic rejects Independence's takeover offer, plans capital raise

05 Dec 2019

Australian nickel miner Panoramic Resources on Thursday recommended that its shareholders reject a takeover bid by larger peer Independence Group NL and went ahead with a capital raising effort, breaching an offer condition.

SE Asia Stocks-Most fall as Sino-U.S. trade deal uncertainty looms

08 Nov 2019

* Singapore top loser, falls most in one month * Indonesia rises as central bank sees improved Q4 GDP * Philippines rises for fifth consecutive week By Sameer Manekar Nov 8 Most Southeast Asian markets closed lower on Friday, as a report on internal opposition in Washington to tariff rollback on Chinese goods trumped optimism over the possibility of an interim Sino-U.S. trade deal. On Thursday, a Reuters exclusive report cited sources saying the agreement between the two sides to roll back tariffs as a part of a "phase one" trade deal faced opposition in the White House. There is a divide within the administration over whether rolling back tariffs will give away U.S. leverage in the negotiations, the sources said. "It will be a while before all the tariffs go down ... there are a lot of things that could happen moving forward. Investors are worried, since we know that Trump is very fickle in terms of tariffs policies," said Rachelle Cruz, an analyst at AP Securities. Singapore's benchmark index closed 0.7% lower, posting its worst session in one month. The city-state, which relies heavily on electronics shipments for economic growth, is sensitive to the trade disruptions caused by tariffs between the United States and China. Financial and industrial firms were the biggest drags, with heavyweight Jardine Matheson Holdings losing 2.4%, and Ascendas Real Estate Investment Trust shedding 7.4%. The index, however, posted a fifth consecutive weekly gain. The Philippine bourse trimmed its losses from earlier in the session to finish 0.1% lower. DMCI Holdings and Alliance Global Group fell 5.2% and 6%, respectively, after MSCI deleted the two stocks from its global standard indexes as a part of a quarterly index review http://bit.ly/2NtSXQf. "The decline in the index mostly reflects the decrease in the weight of the Philippines in MSCI emerging markets," Cruz said. Malaysia's benchmark index inched up to close at over two-month high. Bank stocks rose following an unexpected cut by the central bank of its statutory reserve requirement, to "maintain sufficient liquidity". CIMB Group Holdings and Public Bank gained 1.9% and 0.4%, respectively. Indonesian shares ended 0.2% higher, having traded subdued for most parts of the session. The archipelago's central bank forecast an improvement in the country's exports and GDP growth in the fourth quarter. Coal miner United Tractors added 5.6%, while instant noodles maker Indofood CBP Sukses Makmur advanced 4.4%. Thai stocks edged lower, with biggest stock on the index PTT PCL closing 1.1% down. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Market Current Previous close Pct Move Singapore 3264.3 3285.72 -0.65 Bangkok 1637.85 1640.88 -0.18 Manila 8065.76 8073.81 -0.10 Jakarta 6177.986 6165.624 0.20 Kuala Lumpur 1609.73 1609.33 0.02 Ho Chi Minh 1022.49 1024.03 -0.15 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3264.3 3068.76 6.37 Bangkok 1637.85 1563.88 4.73 Manila 8065.76 7,466.02 8.03 Jakarta 6177.986 6,194.50 -0.27 Kuala Lumpur 1609.73 1690.58 -4.78 Ho Chi Minh 1022.49 892.54 14.56 (Reporting by Sameer Manekar in Bengaluru; editing by Uttaresh.V)

SE Asia Stocks-Most fall on uncertainty around tariff concessions

08 Nov 2019

* China tariff rollback faces opposition in White House- report * Singapore set for fifth straight weekly gain * Thailand set to post biggest weekly gain in over 1 year By Sameer Manekar Nov 8 Most Southeast Asian markets on Friday retreated from the recent risk-on rally, with Singapore falling the most, as sentiment was hit by doubts over Washington's tariff rollback announcement. A Reuters exclusive report of fierce internal opposition in the White House to a possible rollback of U.S. tariffs on China diminished initial optimism over a "phase-one" deal being reached between the two. The idea of a tariff rollback was not part of the original October "handshake" deal between Chinese Vice Premier Liu He and U.S. President Donald Trump, sources told Reuters. China's commerce ministry had said on Thursday that the two sides had agreed on tariff reductions in phases. "Investors may remain cautious until they see details. The rollback of existing tariffs is a positive surprise. However, given President Trump's love of tariffs, the additional element may risk prolonging the phase one negotiation," OCBC said in a note. U.S. stock futures were down about 0.1% to 0.3% in Asian trade. Singapore's benchmark index retreated from a more than three-week high on Thursday, as industrials and financials weakened. Casino operator Genting Singapore fell as much as 3.7% on poor third-quarter earnings reported on Thursday after market hours. Industrial conglomerate Jardine Strategic Holdings and Ascendas Real Estate Investment Trust were among biggest losers, declining as much as 2.9% and 5.8%, respectively. However, the index is on track to rise for a fifth consecutive week. The Philippine bourse hit its lowest in more than a week, dragged by consumer and utilities stocks. SM Investments Corp and Aboitiz Equity Ventures were down as much as 1.8% and 1.6%, respectively. The index was set to post its fifth consecutive weekly gain. Indonesian shares extended losses into a third straight session due to a fall in communication and financial sectors. State-owned telecom firm Telekomunikasi Indonesia fell up to 2%, while Bank Central Asia is set to snap four consecutive weekly gains. An index of the country's 45 most liquid stocks lost as much as 0.8%, set for a third straight loss session. Thai stocks were down 0.3%, dragged by real estate and consumer firms, while Malaysia's benchmark index ticked lower. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0420 GMT Change on the day Market Current Previous close Pct Move Singapore 3259.65 3285.72 -0.79 Bangkok 1636.14 1640.88 -0.29 Manila 8020.7 8073.81 -0.66 Jakarta 6160.767 6165.624 -0.08 Kuala Lumpur 1607.77 1609.33 -0.10 Ho Chi Minh 1023.98 1024.03 0.00 Change on year Market Current End 2018 Pct Move Singapore 3259.65 3068.76 6.22 Bangkok 1636.14 1563.88 4.62 Manila 8020.7 7466.02 7.43 Jakarta 6160.767 6194.498 -0.54 Kuala Lumpur 1607.77 1690.58 -4.90 Ho Chi Minh 1023.98 892.54 14.73 (Reporting by Sameer Manekar in Bengaluru; editing by Uttaresh.V)

SE Asia Stocks-Most markets rise on trade deal hopes

07 Nov 2019

* China says agreed with U.S. to cancel tariffs in phases * Philippines Q3 GDP growth better than forecast * Thailand leads gains with a 1% rise By Sameer Manekar Nov 7 Most Southeast Asian stock markets climbed on Thursday, with Thailand leading the pack with a 1% gain, after China said it agreed with the United States to cancel in phases the tariffs imposed on each others' goods. China's commerce ministry said Washington and Beijing must simultaneously cancel some duties on each others' goods for the two sides to reach a "phase one" trade deal. "The trade war started with tariffs, and should end with the cancellation of tariffs," Gao Feng, a commerce ministry spokesman, told reporters without specifying a timetable. "We have come from nowhere to tariff roll-back in just two weeks. This tells that someone is really motivated to put a deal together," said Stephen Innes, a market strategist at AxiTrader. "Also, U.S. President Donald Trump needs the S&P 500 to be over 3,100 ahead of elections next year, and what he needs is a trade deal." Thai stocks closed at their highest in more than one month, driven by buying in the last of couple of hours after subdued trading for most parts of the day. Energy and materials stocks were among the top gainers, with Thai Oil Pcl and PTT Global Chemical adding 5.1% each. Singapore shares posted their highest close in more than three months, lifted by financials and consumer firms. CapitaLand Ltd rose 1.9% and Wilmar International advanced 1.6%. Philippine shares gained 0.6%, rebounding from a more than 2% slump in the previous session, after data showed the archipelago's economy grew faster than expected in the third quarter, fuelled by buoyant government spending and domestic demand. Financial and consumer stocks were among the top gainers, with SM Prime Holdings adding 3.1%, while Robinsons Retail Holdings rose 1.6%. Meanwhile, Indonesian shares trimmed earlier losses to close 0.8% lower. Indonesian President Joko Widodo on Wednesday urged banks to help stimulate the economy with cuts in lending rates and loans to small and medium firms following feeble third-quarter growth data. If state-owned banks were to cut their rates, "it would drag the average lending rate, which would result in a drop in net interest margin (NIM), with no countervailing loan growth, due to tight liquidity", said Christine Natasya, an equity analyst at Mirae Asset Indonesia. "In this scenario, we would expect NIM deterioration to begin starting early 2020." Financial and communication stocks were among top losers. Bank Rakyat Indonesia and Bank Permata finished lower by 3.9% and 12.3%, respectively, while state-owned Telekomunikasi Indonesia slipped 1.2%. An index of the country's 45 most liquid stocks fell 1%. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Market Current Previous close Pct Move Singapore 3285.72 3262.69 0.71 Bangkok 1640.88 1623.99 1.04 Manila 8073.81 8025.88 0.60 Jakarta 6165.624 6217.545 -0.84 Kuala Lumpur 1609.33 1603.25 0.38 Ho Chi Minh 1024.03 1024.91 -0.09 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3285.72 3068.76 7.07 Bangkok 1640.88 1563.88 4.92 Manila 8073.81 7,466.02 8.14 Jakarta 6165.624 6,194.50 -0.47 Kuala Lumpur 1609.33 1690.58 -4.81 Ho Chi Minh 1024.03 892.54 14.73 (Reporting by Sameer Manekar in Bengaluru; Editing by Subhranshu Sahu)

SE Asia Stocks-Most tepid on trade caution; Indonesia falls 1% as banks weigh

07 Nov 2019

* U.S.-China trade deal could be delayed to Dec - official * Indonesia hits near one-month low * Philippines Q3 GDP came in better than forecast By Sameer Manekar Nov 7 Indonesian shares fell more than 1% on Thursday, dragged by heavy losses in financials, while other Southeast Asian markets treaded water as signs of a delay in Washington and Beijing sealing an interim trade deal dampened sentiment. Reuters on Wednesday reported that a meeting between U.S. President Donald Trump and China's Xi Jinping to sign the long-awaited interim trade deal could be delayed until December. Officials are still scoping venues for the meeting, which was originally scheduled to take place on the sidelines of a now-cancelled mid-November summit of Asia-Pacific leaders in Chile. "The location of any deal ceremony is considerably less important than any willingness to sign a deal at all. Or to the substance of any such deal," ING said in a note. "The question really is, do we even get a December deal?" The Indonesian index seemed underwhelmed by the trade news, but shares dropped after President Joko Widodo urged bank executives to help spur growth with cuts in lending rates and loans, following feeble third-quarter growth data. The index touched its lowest in nearly a month, with financials taking a hit as the government's statement could pressure lenders' margins. Bank Rakyat Indonesia and Bank Mandiri (Persero) dropped 4.3 and 2.5%, respectively. An index of the country's 45 most liquid stocks were set to declined 1.8%. Meanwhile, a delay in a long-awaited trade deal suppressed trading in Singapore, with industrials dragging the index lower. Jardine Strategic Holdings lost 1.5%, while financial sectors supported the index, with Capitaland Ltd posting a 1.1% gain. The Philippine bourse traded flat after closing 2.3% weaker on Wednesday, after data showed that the country's economy grew better than expected in the third quarter. Blue-chip stocks recovered from a plunge in the previous session, with SM Prime Holdings and Ayala Corp climbing as much as 2.5% and 0.7%. Thai stocks edged lower, dragged by energy and materials sectors, while Malaysia's benchmark index was little changed. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0445 GMT Market Current Previous close Pct Move Singapore 3263.53 3262.69 0.03 Bangkok 1622.08 1623.99 -0.12 Manila 8022.21 8025.88 -0.05 Jakarta 6132.878 6217.545 -1.36 Kuala Lumpur 1603.09 1603.25 -0.01 Ho Chi Minh 1025.4 1024.91 0.05 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3263.53 3068.76 6.35 Bangkok 1622.08 1563.88 3.72 Manila 8022.21 7,466.02 7.45 Jakarta 6132.878 6,194.50 -0.99 Kuala Lumpur 1603.09 1690.58 -5.18 Ho Chi Minh 1025.4 892.54 14.89 (Reporting by Sameer Manekar in Bengaluru, Editing by Sherry Jacob-Phillips)

SE Asia Stocks-Philippines plunges over 2% on blue chips

06 Nov 2019

* Philippines falls most in nearly three months * Thai cenbank cuts interest rate by 25 bps * Singapore up for 3rd session, Indonesia retreats By Sameer Manekar Nov 6 Philippine shares slumped over 2% on Wednesday, retreating from a more than three-month closing high hit in the previous session, dragged by blue chips including SM Investments Corp and Ayala Land. Selling was broad-based with the top 10 stocks by market value on the benchmark stock index closing in the red. SM Investments Corp and Ayala Land shed 3.1% and 4.1%, respectively. The benchmark index closed 2.3% lower in its worst session since Aug. 15, after having risen 5.6% since Sept. 30 as of Tuesday's close. Investors locked in profit after the index clocked significant gains in recent sessions, said Charles Ang, associate analyst with COL Financial Group. Meanwhile, government data showed the country's trade deficit widened in September from the previous month. Among other Southeast Asian markets, financials sent Indonesian shares lower after sharp gains in the previous session. Index heavyweights Bank Central Asia and Bank Mandiri (Persero) fell 1% and 3.1%, respectively. Indonesian President Joko Widodo urged bank executives to help stimulate the economy, after Southeast Asia's largest economy grew at its weakest pace in over two years in the third quarter. An index of Jakarta's 45 most liquid stocks finished 1.2% lower. Meanwhile, investors waited for concrete developments on the Sino-U.S. trade war front after a report that the United States was considering whether to withdraw its trade duties on $125 billion of Chinese goods imposed on Sept. 1. Thai stocks inched lower, snapping two straight sessions of gains, after the central bank estimated the economy to grow less than forecast in 2019 and exports to decline more than predicted. The Bank of Thailand trimmed its policy rate by 25 basis points to 1.25%, its second cut this year, as opposed to a no-change forecast in a Reuters poll. Financials were up with Kasikornbank Pcl rising 1.4%, while among utilities, Gulf Energy Development PCL fell the most at 3.1%. Malaysian shares snapped two straight sessions of gains, dragged by consumers and utilities companies. Sime Darby Plantation and Petronas Gas closed down 0.8% and 1.2%, respectively. Financials and industrials helped Singapore shares close at their highest in over three months. Hongkong Land Holdings and Jardine Matheson Holdings were the top gainers, rising 1.8% and 2.3%, respectively. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3262.69 3248.63 0.43 Bangkok 1623.99 1626.87 -0.18 Manila 8025.88 8216.68 -2.32 Jakarta 6217.545 6264.152 -0.74 Kuala Lumpur 1603.25 1606.74 -0.22 Ho Chi Minh 1024.91 1024.34 0.06 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3262.69 3068.76 6.32 Bangkok 1623.99 1563.88 3.84 Manila 8025.88 7,466.02 7.50 Jakarta 6217.545 6,194.50 0.37 Kuala Lumpur 1603.25 1690.58 -5.17 Ho Chi Minh 1024.91 892.54 14.83 (Reporting by Sameer Manekar in Bengaluru; Editing by Subhranshu Sahu)

SE Asia Stocks-Most trade flat-to-low as investors await clarity on tariff roll-back

06 Nov 2019

* Thai stocks flat-to-low ahead of C.bank policy decision * Philippines sees worst session in over a month * Singapore set to rise for third consecutive session By Sameer Manekar Nov 6 Most Southeast Asian stock markets traded in a flat-to-low range on Wednesday, with the Philippines leading declines after recent gains, as investors turned cautious in anticipation of concrete details from the Sino-U.S. trade negotiations. China is insisting that the United States remove tariffs imposed in September as a part of the "phase one" Sino-U.S. trade deal, which is expected to be signed this month at a yet-to-be-determined location. Markets now await clarity on the tariff roll-back by Washington following a report that the U.S. was considering whether to withdraw its Sept. 1 trade duties on about $125 billion worth of Chinese goods. "Continued optimism that the U.S. and China are on the cusp of sealing the 'Phase 1' trade deal is now conditional on meeting Beijing's demand for a rollback at least of tariffs imposed in September, over and above avoiding further tariff escalation," Mizuho Bank said in a note. "Markets should be wary of the boat being rocked when high-rolling on trade optimism." The Philippine bourse led declines in the region, falling after finishing at its highest in over three months in the previous session. Financials and utilities were the biggest drags, as SM Prime Holdings lost 2.6%, while Aboitiz Power Corp slumped 3.5% after reporting a drop in its quarterly consolidated net income. Indonesian shares slipped as much as 0.7% after posting their biggest intraday rise in over three weeks on Tuesday. Index heavyweights Bank Central Asia and Unilever Indonesia lost as much as 0.9% and 1.3%, respectively. An index of Jakarta's 45 most liquid stocks declined up to 1% after posting its best day in over five months on Tuesday. Financials and consumer sectors weighed on Malaysia's benchmark index, with CIMB Group Holdings and Sime Darby Plantation losing up to 1.1% and 2.4%, respectively. The central bank stood pat on its benchmark interest rate on Tuesday, saying it expects private sector spending to remain resilient. Bucking the trend, Singapore shares were set to rise for a third straight session, boosted by financials and industrial companies. Real estate firm Hongkong Land Holdings and industrial conglomerate Jardine Matheson Holdings were among the top gainers, rising as much as 3.5% and 2.9% each. Thai index was little changed, near its two-week high finish on Tuesday, ahead of a Bank of Thailand policy meeting. The central bank is expected to hold its benchmark interest rate later in the day, a Reuters poll showed.. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0431 GMT Change on the day Market Current Previous close Pct Move Singapore 3260.03 3248.63 0.35 Bangkok 1624.06 1626.87 -0.17 Manila 8104.85 8216.68 -1.36 Jakarta 6240.478 6264.152 -0.38 Kuala Lumpur 1600.4 1606.74 -0.39 Ho Chi Minh 1026.19 1024.34 0.18 Change on year Market Current End 2018 Pct Move Singapore 3260.03 3068.76 6.23 Bangkok 1624.06 1563.88 3.85 Manila 8104.85 7466.02 8.56 Jakarta 6240.478 6194.498 0.74 Kuala Lumpur 1600.4 1690.58 -5.33 Ho Chi Minh 1026.19 892.54 14.97 (Reporting by Sameer Manekar in Bengaluru; editing by Uttaresh.V)

SE Asia Stocks-End higher on tariff relief hopes, Philippines at over 3-mth high

05 Nov 2019

* Malaysia mostly flat, c.bank holds interest rate * Indonesia Q3 GDP broadly in line with expectations * Philippines surges in last-minute trade By Sameer Manekar Nov 5 Southeast Asian stock markets closed higher on Tuesday, with Philippines rising the most, as risk appetite was boosted by a report that the United States was planning to drop some tariffs on Chinese goods. Global equities rose after the Financial Times reported that the United States was considering rolling back levies on $112 billion of Chinese imports as a concession to a partial deal, which could be signed this month, according to U.S. officials. "If the U.S. does roll back existing tariffs, the positive spillover will extend beyond financial markets, as such a move would alleviate the downwards pressures on global trade conditions as well," said Han Tan, market analyst at FXTM in a note. Meanwhile, the central bank of China cut interest rates on its medium-term lending facility loans to support economic growth and tackle any fallout from the country's trade dispute with the United States. The Philippine bourse closed at its highest level in more than three months, rising for a second consecutive session. A bulk of the bourse's gains came from last minute buying into heavyweight stocks. The country's annual rate of inflation eased for a fifth straight month in October and was within the central bank's target for the month. Financials and consumer firms lifted the index, with Bank of the Philippine Islands and SM Investments Corp rising 2.8% and 6.4%, respectively. Indonesian shares snapped their three-day streak of losses, rising the most in over three weeks as financial and consumer sectors rose. Bank Mandiri (Persero) and poultry feed producer Charoen Pokphand Indonesia were up 4.7% and 6.6%, respectively. The country's economy grew at its weakest pace in over two years in the third quarter, signalling the possibility of further stimulus measures. An index of the country's 45 most liquid stocks ended 2.4% higher. Singapore's benchmark index closed at its highest in over three months, rising on the back of consumer and industrial firms. Industrial conglomerate Jardine Strategic Holdings added 2.2%, while auto manufacturer Jardine Cycle & Carriage rose 1.8%. Malaysia's benchmark index ended slightly higher after the central bank kept its benchmark interest rate unchanged on Tuesday, as forecast by a Reuters poll. Thai stocks closed at their two-week high, ahead of a Bank of Thailand policy meeting on Wednesday. The central bank is expected to stand pat on its benchmark interest rate, according to a Reuters poll. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3248.63 3236.4 0.38 Bangkok 1626.87 1622.25 0.28 Manila 8216.68 8059.65 1.95 Jakarta 6264.152 6180.344 1.36 Kuala Lumpur 1606.74 1603.56 0.20 Ho Chi Minh 1024.34 1022.43 0.19 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3248.63 3068.76 5.86 Bangkok 1626.87 1563.88 4.03 Manila 8216.68 7,466.02 10.05 Jakarta 6264.152 6,194.50 1.12 Kuala Lumpur 1606.74 1690.58 -4.96 Ho Chi Minh 1024.34 892.54 14.77 (Reporting by Sameer Manekar in Bengaluru; Editing by Anil D'Silva)

SE Asia Stocks-Most gain on optimism over trade deal, China rate cut

05 Nov 2019

* China C.bank cuts medium-term lending facility interest rate * Philippines hits over three-month high * Malaysia down ahead of cenbank rate decision By Sameer Manekar Nov 5 Most Southeast Asian stock markets rose on Tuesday on signs that Washington and Beijing were nearing a trade truce, while fresh stimulus measures in China, the region's largest trading partner, also supported buying. Global equities got a boost after the Financial Times reported that the United States is considering dropping existing tariffs on Chinese goods as a concession to seal a partial deal, which according to U.S. officials, could be signed this month. "The most significant change on the trade front compared with just three months ago is that both sides, which were very negative on the deal, now want to get something signed," said Joel Ng, analyst, KGI Securities. Gestures such as removal of tariffs show the "attitude of the two countries, that they are keen on getting the deal signed", which is helping push up equity markets, he added. Meanwhile, China's central bank cut the interest rate on its medium-term lending facility (MLF) for the first time since early 2016, in a bid to shore up liquidity amid slowing economic growth. Services sector activity in China expanded at a slower pace in October. In Southeast Asia, the Philippine bourse advanced to its highest in over three months, after data showed the country's annual inflation rose 0.8% in October from last year, remaining within the central bank's forecast range for the month. Financials and consumer firms lifted the index, with Bank of the Philippine Islands and SM Investments Corp adding up to 2.6% and 4.3%, respectively. Indonesian shares rebounded after three straight sessions of losses, with Bank Mandiri (Persero) and poultry feed producer Charoen Pokphand Indonesia gaining 2.2% and 1.8%, respectively. Sentiment got a lift after data showed on Tuesday that the country's economy grew 5.02% in the third quarter compared with last year, roughly in line with market expectations. An index of Jakarta's 45 most liquid stocks traded up to 1.2% higher. Singapore equities rose on the back of financials and industrial sectors, with DBS Group Holdings and Jardine Strategic Holdings advancing up to 1% and 1.8%, respectively. Malaysia's benchmark index traded in negative territory ahead of a central bank meeting, in which the Bank Negara Malaysia is expected to keep its benchmark interest rate unchanged, according to a Reuters poll. Thai stocks hit their highest in near two weeks, with Advanced Info Service PCL and Kasikornbank PCL gaining 0.9% and 1.4%, respectively. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0434 GMT Change on the day Market Current Previous close Pct Move Singapore 3246.42 3236.4 0.31 Bangkok 1625.83 1622.25 0.22 Manila 8142.41 8059.65 1.03 Jakarta 6213.205 6180.344 0.53 Kuala Lumpur 1600.44 1603.56 -0.19 Ho Chi Minh 1023.99 1022.43 0.15 Change on year Market Current End 2018 Pct Move Singapore 3246.42 3068.76 5.79 Bangkok 1625.83 1563.88 3.96 Manila 8142.41 7466.02 9.06 Jakarta 6213.205 6194.498 0.30 Kuala Lumpur 1600.44 1690.58 -5.33 Ho Chi Minh 1023.99 892.54 14.73 (Reporting by Sameer Manekar in Bengaluru, Editing by Sherry Jacob-Phillips)

SE Asia Stocks-Most end higher on trade deal hopes, Thailand rises most

04 Nov 2019

* Thailand gains most in 11 months * Malaysia Sept. exports -6.8% y/y (Reuters poll: -0.1%) * Philippine shares hit over 3-month high By Sameer Manekar Nov 4 Most Southeast Asian markets rose on Monday, with Thailand leading gains, as investors took heart from signs of progress in Sino-U.S. trade talks. On Friday, the United States and China said they made progress in talks to resolve a nearly 16-month long trade war that has impacted economies across the world, with U.S. officials saying a deal could be signed this month. Thai stocks jumped nearly 2%, closing at a near 2-week high. "Last week, the index ended below the 1600-point level. So, there is some buying back into the stocks that is happening, especially in big-cap sectors like banking and electrical," said Teerada Charnyingyong, analyst at Phillip Capital Thailand. Also aiding sentiment was the expectation of a rate-cut by the Bank of Thailand at its meeting on Wednesday to support growth. Utilities and materials were among the biggest gainers, with Gulf Energy Development PCL and PTT Global Chemical PCL closing 5.9% and 5.4% higher, respectively. The Philippine bourse gained 1% to end at its highest in over three months, lifted by financials and utilities firms. Index heavyweight SM Prime Holdings added 1.3%, rising on upbeat quarterly results, while Manila Electric Co rose 2.5%. Malaysia's benchmark index gained 0.6%, shrugging off a worse than expected decline in its September exports. The country's exports in September fell 6.8% from a year ago, their biggest decline in nearly three years, widening from the previous month's drop of 0.8%, and widely missing a Reuters poll forecast of a 0.1% decline. Consumer and basic materials firms were among the top gainers, while financials edged lower ahead of the central bank meeting on Tuesday, where it is expected to keep its benchmark rate unchanged, according to a Reuters poll. Indonesian shares finished 0.4% lower, posting their third consecutive sessions of loss. Finance Minister Sri Mulyani Indrawati said that the country's tax collection in the first nine months of 2019 had been hurt by slowing economic activity, and estimated the 2019 fiscal deficit to widen to 2% of gross domestic product. Financial and consumer sectors were the biggest losers, with Bank Central Asia and Unilever Indonesia losing 0.7% and 1.5%, respectively. Singapore's Straits Times index pared some of the early gains to finish 0.2% higher. Index heavyweights DBS Group Holdings and Capitaland Ltd were up 1% and 1.1%, respectively. Vietnam stocks hit their highest in over one year, as financials gained. Bank for Foreign Trade of Vietnam closed at a record high. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous Pct Move close Singapore 3236.4 3229.43 0.22 Bangkok 1622.25 1592.52 1.87 Manila 8059.65 7977.12 1.03 Jakarta 6180.344 6207.191 -0.43 Kuala Lumpur 1603.56 1593.34 0.64 Ho Chi Minh 1022.43 1015.59 0.67 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3236.4 3068.76 5.46 Bangkok 1622.25 1563.88 3.73 Manila 8059.65 7,466.02 7.95 Jakarta 6180.344 6,194.50 -0.23 Kuala Lumpur 1603.56 1690.58 -5.15 Ho Chi Minh 1022.43 892.54 14.55 (Reporting by Sameer Manekar in Bengaluru; editing by Uttaresh.V)

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