October 7, 2019 / 4:43 AM / 14 days ago

SE Asia Stocks-Singapore tracks Wall Street gains, most others little changed

    * Singapore boosted by gains in financials
    * Banks and energy stocks help Thailand

    By Soumyajit Saha
    Oct 7 (Reuters) - Singapore stocks snapped three
sessions of losses to gain on Monday, while most other southeast
Asian stock markets were little changed in thin volumes as
markets in China and Hong Kong were closed for a public holiday.
    Gains in financial and telecommunication sectors helped the
city-state rise, with lender DBS Group Holdings
gaining 1% and Singapore Telecommunications up 1.3%.
     "Singapore is reacting in response to the strength in the
U.S. markets on Friday," Linus Loo, head of research at Lim &
Tan Securities said.
    U.S. markets rose on Friday after data showed the U.S.
unemployment rate dropped to the lowest in almost 50 years,
easing slowdown concerns.
    Investors in broader southeast Asia were cautious after
Bloomberg reported that Chinese officials have narrowed down the
list of topics they were willing to negotiate on in talks slated
to begin on Thursday. 
   "There is caution in the market given the disappointing
results to talks in the past," Linus added.
    Thai shares advanced, helped by gains in banking and
energy stocks. Lender Kasikornbank advanced 1.7%,
while oil explorer PTT Exploration and Production
gained 1.3%.  
    Thailand's central bank governor on Friday said the bank is
ready to take policy action if needed, adding that it would
further relax rules on capital outflows in the face of a strong
baht.
    Meanwhile, Indonesian stocks fell, dragged down by
losses in consumer and resources sectors.
    Consumer goods maker Unilever Indonesia lost 1.8%,
while cement maker Indocement Tunggal Prakarsa was
down 2.8%.  
     
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0418 GMT
  STOCK MARKETS                                             
  Change on the day                                         
  Market             Current        Previous      Pct Move
                                    close         
  Singapore          3098.74        3078.36       0.66
  Bangkok            1609.44        1605.96       0.22
  Manila             7715.85        7704.6        0.15
  Jakarta            6040.785       6061.252      -0.34
  Kuala Lumpur       1558.98        1557.67       0.08
 Ho Chi Minh         988.18         987.59        0.06
                                                  
  Change so far in                                
 2019                                             
  Market             Current        End 2018      Pct Move
  Singapore          3098.74        3068.76       0.98
  Bangkok            1609.44        1563.88       2.91
  Manila             7715.85        7,466.02      3.35
  Jakarta            6040.785       6,194.50      -2.48
  Kuala Lumpur       1558.98        1690.58       -7.78
  Ho Chi Minh        988.18         892.54        10.72
 

 (Reporting by Soumyajit Saha in Bengaluru; editing by
Uttaresh.V)
  
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