September 5, 2019 / 10:20 AM / 2 months ago

SE Asia Stocks-Most rise as U.S.-China trade talk plans buoy sentiment

    * Singapore posts third straight gain
    * Investors expect another rate cut in Philippines 
    * Thai hits near one-month closing high

    By Shreya Mariam Job
    Sept 5 (Reuters) - Most Southeast Asian stock markets rose
on Thursday, with Philippines leading gains, as confirmation of
talks between Beijing and Washington spurred hopes of a
de-escalation in the trade war.
    China and the United States agreed to hold high-level trade
talks in early October in Washington, amid fears that an
escalating trade war could trigger a global economic recession.

    However, most of these markets pared some of their earlier
gains.
    "The lift in risk sentiment appears mitigated by the concern
that the latest positive developments surrounding these macro
events (U.S.-China trade conflict, Brexit) may prove fleeting
and do not yet fully nullify these downside risks," Han Tan,
Market Analyst at FXTM said in a report. 
    Philippine stocks rose as investor hopes of a third
rate cut for the year were cemented by weak August inflation
data. 
    The country's consumer price index rose 1.7% in August from
a year earlier, the weakest pace in nearly three years.

    Shares of casino operator Bloomberry resorts Corp
rose to an over two-week high after President Rodrigo Duterte
said on Wednesday that he was unwilling to ban gambling, as
China has called for, because of the harm that would do to the
country's economy.
    Thai stocks jumped 0.7% to a near one-month closing
high, with energy stocks contributing most of the gains. 
    Thailand's main stock exchange signed an agreement to
develop an energy trading platform as part of a plan to become
Southeast Asia's electricity trading hub.
    Shares of PTT PCL and PTT Exploration and
Production PCL gained 1.2% and 3.4%, respectively.
    Indonesian stocks gained 0.6% on the back of
consumer and financial stocks, with Astra International Tbk Pt
 and Unilever Indonesia Tbk Pt rising 3.1%
and 1%, respectively.
    Singapore stocks gained for the third consecutive
session, with industrials boosting gains. Jardine Strategic
Holdings Ltd and Jardine Matheson Holdings Ltd
 gained 4.3% and 1%, respectively. 
    Meanwhile, Malaysian and Vietnam stocks
dipped marginally.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3147.06   3130.57         0.53
 Bangkok                1669.79   1658.64         0.67
 Manila                 7898.19   7840.86         0.73
 Jakarta                6306.803  6269.664        0.59
 Kuala Lumpur           1599.75   1599.89         -0.01
 Ho Chi Minh            976.79    977.63          -0.09
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3147.06   3068.76         2.55
 Bangkok                1669.79   1563.88         6.77
 Manila                 7898.19   7,466.02        5.79
 Jakarta                6306.803  6,194.50        1.81
 Kuala Lumpur           1599.75   1690.58         -5.37
 Ho Chi Minh            976.79    892.54          9.44
 
 (Reporting by Shreya Mariam Job in Bengaluru; editing by
Uttaresh.V)
  
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