September 6, 2019 / 10:37 AM / 9 days ago

SE Asia Stocks-Most subdued on caution over U.S.-China trade talk outcome

    * Singapore posts first weekly gain in seven
    * Philippines snaps two weekly gains
    * Vietnam bucks trend to end lower

    By Shreya Mariam Job
    Sept 6 (Reuters) - Most Southeast Asian stock markets ended
slightly higher on Friday, paring most of its early gains, as
investors turned cautious about concrete progress in U.S.-China
trade relations. 
    "The ongoing Sino-U.S. trade tension still consists of a
huge unpredictability, as evident from the dramatic change in
sentiments of late, and we expect strong volatility ahead as the
current situation paints an image of imminent strong headwinds
for global indices," Phillip Futures said in a note to clients.
    Philippine stocks maintained its lead among regional
indexes, ending the session 0.5% higher. For the week, however,
it dropped 0.6%, snapping two weekly gains. 
    Hotel developer and operator Bloomberry Resorts Corp
 and real estate developer Robinsons Land Corp
 were the top gainers on the index, rising 3.9% and
2.9%, respectively. 
    Malaysian stocks closed 0.3% higher, helped by
industrial stocks. 
    Port services provider MISC Bhd rose 3.5%, while
Sime Darby Bhd gained 1.3%.     
    Thai stocks ended the session little changed, with
losses among telecom and industrial stocks offset by gains in
financial and energy stocks.
    The country also unveiled a generous relocation package on
Friday to attract foreign companies looking to move production
because of the intensifying Sino-U.S. trade war.
    Meanwhile, Singapore stocks posted its first weekly
gain in seven, but ended the session marginally lower.
    Gains among financial stocks were outweighed by losses in
industrials. 
    Vietnam, the most-favoured destination for manufacturing
firms moving out of China to avoid tariffs, has not taken the
news of talks between U.S. and China in October well, as the
country's stock index fell 0.3%. Real estate and
financials dragged the benchmark lower.

    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
    
 Change on the day                               
 Market                 Current  Previous close  Pct Move
 Singapore              3144.48  3147.06         -0.08
 Bangkok                1670.06  1669.79         0.02
 Manila                 7933.47  7898.19         0.45
 Jakarta                6308.95  6306.803        0.03
 Kuala Lumpur           1604.47  1599.75         0.30
 Ho Chi Minh            974.08   976.79          -0.28
                                                 
 Change so far in 2019                           
 Market                 Current  End 2018        Pct Move
 Singapore              3144.48  3068.76         2.47
 Bangkok                1670.06  1563.88         6.79
 Manila                 7933.47  7,466.02        6.26
 Jakarta                6308.95  6,194.50        1.85
 Kuala Lumpur           1604.47  1690.58         -5.09
 Ho Chi Minh            974.08   892.54          9.14
 
 (Reporting by Shreya Mariam Job in Bengaluru; editing by
Uttaresh.V)
  
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