March 27, 2018 / 4:36 AM / a year ago

SE Asia Stocks-Rise as U.S.-China trade worries ease; Vietnam hits record

    * Asian shares ex-Japan rise about 1 pct
    * Indonesia set to break three-session losing run
    * Vietnam climbs 1.4 pct to all-time peak 

    By Syed Saif Hussain Naqvi
    March 27 (Reuters) - Southeast Asian stock markets rose on
Tuesday, with Vietnam scaling an all-time peak, as reports of
U.S.-China trade negotiations and the Chinese premier's pledge
to ease access for U.S. businesses eased fears of a trade war.
    Chinese Premier Li Keqiang on Monday said China would treat
foreign and domestic firms equally, would not force foreign
firms to transfer technology and would strengthen intellectual
property rights.
    Li's pledge followed a Wall Street Journal report that said
Washington asked Beijing in a letter last week to cut a tariff
on U.S. autos, buy more U.S.-made semiconductors and give U.S.
firms greater access to the Chinese financial
    U.S. Treasury Secretary Steven Mnuchin and Trade
Representative Robert Lighthizer listed steps they want China to
take in a letter to Liu He, a newly appointed vice premier who
oversees China's economy, the Journal said, quoting sources with
knowledge of the matter.
    Asian shares climbed, with MSCI's broadest index of
Asia-Pacific shares outside Japan rising over 1
percent, its second gain in five sessions. 
    Indonesian shares rose 0.6 percent after three
straight sessions of losses, with financials driving the
    The index of the country's 45 most liquid stocks
rose 0.6 percent.
    "Composition of financials in Indonesia is about 29 percent
of the total market cap. Think most likely investors look at
financials as the first to sell when market is turbulent, but
are also the first to be bought when there is any kind of
rebound in the market," Taye Shim, head of research at Mirae
Asset Sekuritas.
    Bank Central Asia Tbk was the top contributor to
the index, rising as much as 2.2 percent.
    Vietnam shares surged as much as 1.4 percent, buoyed
by financials.
    Joint Stock Commercial Bank for Investment and Development
of Vietnam was the biggest boost to the benchmark,
rising as much as 3.8 percent to hit a record.
    Singapore Shares rose 0.5 percent and was set to
break a four-session losing run.  
    Financials led the charge, with DBS Group Holdings
rising as much as 1.5 percent, its first rise in four sessions. 
    Philippine shares rose 0.3 percent, buoyed mainly by
financials and real estate stocks. 
    Ayala Land rose 1.4 percent and was the top boost
to the index.
    Thai shares rose 0.3 percent, boosted by financials.
  STOCK MARKETS                                    
  Change on day                                    
 at 0428 GMT                               
  Market          Current      Previous    Pct Move
  Singapore       3430.77      3412.46     0.54
  Bangkok         1805.98      1801.1      0.27
  Manila          7956.77      7932.38     0.31
  Jakarta         6236.021     6200.172    0.58
  Kuala Lumpur    1863.98      1859.91     0.22
 Ho Chi Minh      1179.06      1171.22     0.67
  Change so far                            
 in 2018                                   
  Market          Current      End 2017    Pct Move
  Singapore       3430.77      3402.92     0.82
  Bangkok         1805.98      1753.71     2.98
  Manila          7956.77      8558.42     -7.03
  Jakarta         6236.021     6355.654    -1.88
  Kuala Lumpur    1863.98      1796.81     3.74
  Ho Chi Minh     1179.06      984.24      19.79
    For Asian Companies click;  


 (Reporting by Syed Saif Hussain Naqvi; Editing by Amrutha
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