September 11, 2019 / 4:34 AM / 4 days ago

SE Asia Stocks-Most gain as hopes of trade deal, stimulus lift risk-on mode

    * Singapore leads gains in region, rises 1%
    * Malaysia July factory output below forecast
    * Vietnam bucks trend to trade lower

    By Shreya Mariam Job
    Sept 11 (Reuters) - Most Southeast Asian stock markets edged
higher on Wednesday, with Singapore leading gains, as
expectations of a breakthrough in the Sino-U.S. trade dispute
and more fiscal stimulus measures by major central banks lifted
risk sentiment.     
    The South China Morning Post reported here
 that China might agree to buy more American agricultural
products, hoping for a better deal with the United States.
    However, a senior White House adviser tamped down
expectations on Tuesday for the next round of U.S.-China trade
talks, urging investors, businesses and the public to be patient
about resolving the trade dispute between the world's two
largest economies.
    Sentiment got a lift ahead of monetary policy decisions by
the European central bank on Thursday and the U.S. Federal
Reserve next week, with investors hoping for further easing amid
a slowdown in global growth. 
    Leading the region, Singapore stocks extended gains
for a third session, underpinned by financial and real estate
shares. Hongkong Land Holdings advanced 2.1%, while
DBS Group Holdings hit its highest in more than a
month.  
    Real estate stocks got a boost after the Housing and
Development Board (HDB) of Singapore enhanced here
 the Central Provident Fund (CPF) housing grant to provide for
affordable and accessible homes. 
    "STI is up because news has been incrementally more
positive. The higher CPF grant and income ceiling will improve
the HDB resale and upgraders market. This is supportive for the
private residential mass market," Paul Chew, head of research at
Phillip Securities Research said.
    Meanwhile, Malaysian stocks traded relatively flat
ahead of a monetary policy decision on Thursday, where the
central bank is expected to keep its benchmark interest rate
unchanged, according to a Reuters poll, as it keeps room for
potential easing later should global growth fall sharply.

    The country's industrial production index rose at its
slowest pace in five years in July as mining output slowed,
government data showed on Wednesday.
    Thai stocks edged higher on broad-based gains, with
Siam Commercial Bank climbing 1.3% and Kasikornbank
 rising 1.2%.
    The Philippine index eked out modest gains as
strength in consumer shares offset losses in financial stocks. 
    Bucking the trend, Vietnam stocks traded in the red.
    
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SOUTHEAST ASIAN STOCK MARKETS As at 0432 GMT
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3187.76   3155.71         1.02
 Bangkok                1666.09   1665.93         0.01
 Manila                 7943.42   7929.48         0.18
 Jakarta                6337.866  6336.673        0.02
 Kuala Lumpur           1597.08   1595.85         0.08
 Ho Chi Minh            967.96    970.26          -0.24
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3187.76   3068.76         3.88
 Bangkok                1666.09   1563.88         6.54
 Manila                 7943.42   7,466.02        6.39
 Jakarta                6337.866  6,194.50        2.31
 Kuala Lumpur           1597.08   1690.58         -5.53
 Ho Chi Minh            967.96    892.54          8.45
 
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Sherry
Jacob-Phillips)
  
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