January 3, 2020 / 4:48 AM / in 2 months

SE Asia Stocks-Most extend gains on China policy easing, production survey

    * Financials drag Singapore lower
    * Philippines recovers some lost ground
    * Energy stocks help Thailand rise

    By Shruti Sonal
    Jan 3 (Reuters) - Most Southeast Asian stock markets
extended gains on Friday after Wall Street notched another
record high on China's policy easing move and a private survey
showing solid production growth in the world's second-largest
economy.
    Broader Asian shares pared early gains after
news of U.S. air strikes in Iraq, but markets in Southeast Asia
remained relatively steady.
    "Investors appear to bet that the initial caution will pass,
preferring to focus on the broader global recovery story," said
Jeffrey Halley, senior market analyst, Asia Pacific at OANDA.
    A survey on Thursday showed Chinese production activity in
December continued to grow and business confidence strengthened,
indicating a recovery in the economy in the wake of a Phase 1
trade deal with the United States.
    The Chinese central bank said on Wednesday it was cutting
the amount of cash that all banks must hold as reserves,
releasing around 800 billion yuan ($114.91 billion) in funds to
shore up the slowing economy.
    Philippine shares climbed nearly 1% after a more than
2% drop on Thursday, helped by industrial and consumer stocks.
    Port operator International Container Terminal Services Inc
 and beverage products maker Universal Robina Corp
 were the top percentage gainers on the benchmark index.
    Malaysian equities rose 0.5%, helped by healthcare
and basic material stocks. IHH Healthcare Bhd and
Press Metal Aluminium Holdings Bhd gained 2.2% and
1.7%, respectively.
    Meanwhile, data showed exports dropped for the fourth
straight month in November, contracting 5.5% from a year earlier
on lower shipments of manufactured goods and commodities.

    Energy stocks helped Thailand shares rise to their
highest since Nov. 28 on the back of higher oil prices after
U.S. air strikes killed Iran and Iraq officials.
    Oil and gas giant PTT Pcl advanced 2.2%, while Star
Petroleum Refining Pcl rose over 3.6%. 
    Singapore stocks fell 0.5%, dragged by financials.
    DBS Group Holdings slid as much as 1% after
China's Ant Financial, an affiliate of Alibaba Group Holdings
, said on Thursday it had joined the race for a digital
banking licence in the city state. 
     
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0336 GMT
        
 STOCK MARKETS                                    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3232.32   3252            -0.61
 Bangkok                1599.76   1595.82         0.25
 Manila                 7818.73   7742.53         0.98
 Jakarta                6302.477  6283.581        0.30
 Kuala Lumpur           1610.06   1602.5          0.47
 Ho Chi Minh            970.36    966.67          0.38
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              3232.32   3222.83         0.29
 Bangkok                1599.76   1579.84         1.26
 Manila                 7818.73   7,815.26        0.04
 Jakarta                6302.477  6,299.54        0.05
 Kuala Lumpur           1610.06   1588.76         1.34
 Ho Chi Minh            970.36    960.99          0.98
 
1 = 4.1000 ringgit)

 (Editing by Subhranshu Sahu)
  
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