July 13, 2018 / 4:05 AM / 3 months ago

SE Asia Stocks-Rise; Indonesia, Malaysia extend rally to 5th session

    * Indonesia, Malaysia set for 5th straight gaining session
    * Indonesia hits 5-week high; Philippines hits 1-month top
    * Singapore set for first weekly gain in five

    By Karthika Suresh Namboothiri
    July 13 (Reuters) - Southeast Asian stock markets edged
higher on Friday, with Indonesia and Malaysia extending gains to
a fifth consecutive session, as worries over U.S.-China trade
tensions eased.
    "The broader market continues to remain in a wait-and-see
mode for further details on how China might retaliate on trade,
while equity markets continue to press higher under the guise
that 'no escalating news is good news'", Stephen Innes, head of
trading for Asia pacific at Oanda, said in a note.
    Although China has vowed to retaliate to the new tariffs,
the lack of a specific response to date has likely sparked a
global relief rally, with U.S. stocks posting overnight gains,
bolstering Asian shares. 
    Philippine shares climbed 0.6 percent to their
highest since June 18, with property developers SM Prime
Holdings and SM Investments Corp each rising
as much as 1 percent.
    Singapore shares inched higher, and were set for
their first weekly gain after four weeks of losses.
    Economic growth eased in the second quarter in Singapore,
missing forecasts, as manufacturing activity cooled and
worsening trade tensions between the world's two largest
economies clouded the outlook for the trade-reliant city-state.

    Indonesian shares gained as much as 0.7 percent to
their highest since June 8, and were set to snap three weeks of
losses.
    United Tractors rose about 3 percent in the
session, while Bank Mandiri was up 2.3 percent.
    The index of the country's 45 most liquid stocks
rose 0.9 percent.
    Malaysian shares climbed as much as 0.8 percent to
their highest in three weeks, and were poised for their first
weekly gain in five.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0354 GMT
    
 Market          Current   Previous close  Pct Move
 Singapore       3261.59   3253.01         0.26
 Bangkok         1648.74   1640.93         0.48
 Manila          7380.86   7350.58         0.41
 Jakarta         5955.258  5907.872        0.80
 Kuala Lumpur    1715.61   1703.57         0.71
 Ho Chi Minh     906.97    898.51          0.94
                                           
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3261.59   3402.92         -4.15
 Bangkok         1648.74   1753.71         -5.99
 Manila          7380.86   8558.42         -13.76
 Jakarta         5955.258  6355.654        -6.30
 Kuala Lumpur    1715.61   1796.81         -4.52
 Ho Chi Minh     906.97    984.24          -7.85
 

 (Reporting by Karthika Suresh Namboothiri; Editing by Amrutha
Gayathri)
  
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