September 26, 2019 / 4:26 AM / 25 days ago

SE Asia Stocks-Most tick up on trade optimism; Indonesia sees best day in month

    * Trump says China trade deal could be 'soon'
    * Singapore flat ahead of industrial output data
    * Philippines cenbank decision awaited

    By Anushka Trivedi
    Sept 26 (Reuters) - Most Southeast Asian stock markets edged
higher on Thursday, with Indonesian shares gaining the most, as
hints of progress in talks to resolve the U.S.-China tariff
dispute lifted investor mood and tempered a shadow over the
global economic outlook.
    U.S. President Donald Trump on Wednesday said a deal to end
the longstanding trade war between world's two biggest
economies, which has caused a pall over global fiscal growth,
could happen sooner than expected.
    Trump's comments sparked a rally in global equities but
gains in Southeast Asia were limited in a low-volume trading
session as the unpredictable nature of the trade spat has caused
immense volatility in the regional markets over the past year.
    "Market sentiment remains fragile and ultra-sensitive to any
development around the U.S.-China trade conflict," Han Tan,
market analyst at FXTM said in a note. 
    "Considering the fact that a rapid deterioration in
U.S.-China relations is not without precedence, investors will
continue scouring the horizon for any signals that can push risk
sentiment either way," he added.
    Leading gains in the region, Indonesian stocks
marked their best session in a month, underpinned by financials.
    Lenders Bank Central Asia Tbk PT and Bank Rakyat
Indonesia (Persero) Tbk PT rose 1.9% and 1.2%,
respectively.
    Thai stocks edged up 0.6% after the central bank
stood pat on interest rates. The Bank of Thailand on Wednesday
scaled down its 2019 economic and export forecast, with analysts
at OCBC expecting a rate cut in the fourth quarter.
  
    The Singapore index was trading steady ahead of the
release of its monthly industrial production figures, which are
expected to contract by 0.7% on-year.
    The Philippine benchmark index dipped as investors
kept a cautious stance ahead of the Bangko Sentral ng Pilipinas
policy decision later in the day where a 25 bps cut is largely
anticipated.
    Losses in the industrial sector weighed, with International
Container Terminal Services Inc and Alliance Global
Group Inc being the biggest drags in the index. 
    Meanwhile, the Asian Development Bank (ADB) slashed here
 its growth outlook for the Philippine economy for years 2019
and 2020, citing slowdown in the global growth and in domestic
investment.    
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS As at 0409 GMT
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3125.06   3125.82         -0.02
 Bangkok                1637.48   1628.38          0.56
 Manila                 7888.91   7896.24         -0.09
 Jakarta                6193.728  6146.404         0.77
 Kuala Lumpur           1591.15   1589.58          0.10
 Ho Chi Minh            987.62    987.3            0.03
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3125.06   3068.76         1.83
 Bangkok                1637.48   1563.88         4.71
 Manila                 7888.91   7,466.02        5.66
 Jakarta                6193.728  6,194.50        -0.01
 Kuala Lumpur           1591.15   1690.58         -5.88
 Ho Chi Minh            987.62    892.54          10.65
 


 (Reporting by Anushka Trivedi in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below