August 21, 2018 / 10:17 AM / 2 months ago

SE Asia Stocks-Most markets rise on Sino-U.S. trade-talk hopes

    * Malaysia rises for third straight session
    * Singapore falls for ninth straight session
    * Thai stocks retreat ahead of trade data

    By Sumeet Gaikwad
    Aug 21 (Reuters) - Most Southeast Asian stock markets rose
on Tuesday on hopes that the United States and China would be
able to ease trade hostilities, while U.S. President Donald
Trump's comment about the Fed rate hike cycle calmed nerves
about foreign fund outflows.
    In an exclusive interview with Reuters, Trump said late on
Monday he was "not thrilled" with the Federal Reserve under his
own appointee, Chairman Jerome Powell, for raising interest
rates and said the Fed should do more to help him to boost the
economy.
    The dollar index, which tracks performance against a
basket of six major currencies, fell 0.35 percent.
    Asian stocks were higher, tracking overnight strength on
Wall Street, though gains were capped on caution ahead of the
minutes of Fed meeting expected to be released on Wednesday.
    Investors now await lower-level trade talks between the
United States and China due to start this week. Speculation that
the talks might help ease trade tensions has shored up the
broader equity markets over the past few sessions.    
    In Southeast Asia, Indonesian stocks rose for a
second straight session and closed about 1 percent higher, led
by consumer staples. 
    Charoen Pokphand Indonesia rose nearly 5 percent,
while Kalbe Farma jumped over 8 percent. 
    An index of the country's 45 most liquid stocks
gained 0.9 percent.
    Malaysian stocks rose for a third consecutive
session on broad-based gains. Petronas Gas led the
rise with a 4.6 percent jump. 
    Singapore shares fell for a ninth straight session,
weighed down by consumer staples and financials. 
    Lender DBS Group Holdings fell 0.7 percent, while
Thai Beverage Pcl slipped 1.5 percent. 
    "High frequency data – industrial output, non-oil domestic
exports, PMIs (purchasing managers' index), loan growth,
container throughout and retail sales – are unanimously pointing
to a weaker second half (for Singapore)," DBS Bank said in a
note.
    Thai shares erased early gains to end 0.4 percent
lower, dragged by energy stocks, ahead of customs-based trade
data for July on Wednesday.
    Thailand likely recorded a trade surplus of $0.15 billion in
July, compared with June's $1.58 billion surplus, a Reuters poll
showed.
    Oil and gas producer PTT Pcl led the decline,
shedding over 1 percent, while Bangkok Dusit Medical Services
Pcl fell nearly 3 percent.
    "Thai shares are facing some profit-taking, and there are
some uncertainties in local politics... we are seeing a
tentative election date in February next year," said Teerada
Charnyingyong, an analyst with Phillip Capital Thailand 
    The Philippine stock market was closed for a national
holiday.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3199.89   3204.71         -0.15
 Bangkok            1694.63   1701.42         -0.40
 Jakarta            5944.301  5892.192        0.88
 Kuala Lumpur       1798.11   1787.58         0.59
 Ho Chi Minh        979.21    969.62          0.99
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3199.89   3402.92         -5.97
 Bangkok            1694.63   1753.71         -3.37
 Jakarta            5944.301  6355.654        -6.47
 Kuala Lumpur       1798.11   1796.81         0.07
 Ho Chi Minh        979.21    984.24          -0.51
 
 (Reporting by Sumeet Gaikwad in Bengaluru; Additional reporting
by Saif Naqvi; Editing by Subhranshu Sahu)
  
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