September 20, 2018 / 9:47 AM / 3 months ago

REFILE-SE Asia Stocks-Most rise as trade war fears fade; Philippines falls over 1 pct

 (Adds Reuters Instrument Codes in fourth paragraph)
    * Indonesia, Malaysia rise for 2nd straight session 
    * Philippines extends falls to 12-week closing low

    By Sumeet Gaikwad
    Sept 20 (Reuters) - Most Southeast Asian stock markets rose
on Thursday, in line with broader Asia on continued relief that
the recent tit-for-tat tariffs by the United States and China
were less harsh than feared.
    After a knee-jerk negative reaction to the new tariffs
announced by Washington and Beijing on Tuesday, markets have
been speculating that an immediate escalation could be averted.

    U.S. President Donald Trump has not made fresh threats that
he would seek to extend tariffs to all Chinese imports, while
Chinese Premier Li Keqiang said this week he would not weaken
the yuan to boost exports. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.3 percent, while the S&P 500 and
the Dow Jones industrial rose on Wednesday.
    Indonesian shares rose for a second session in a row
and closed 1 percent higher, helped by financial and material
stocks. 
    Bank Mandiri climbed 4.3 percent, while Unilever
Indonesia added 0.9 percent. 
    An index of the country's 45 most liquid stocks
gained 1.6 percent.
    Malaysian shares closed higher for a second
consecutive session with Genting Malaysia adding 1.5
percent, while Hong Leong Bank gained 0.7 percent.
    Singapore and Thai shares rose marginally. 
    Meanwhile, Philippine stocks fell 1.2 percent,
extending their falls into a third session and posting their
lowest close since June 28, weighed down by industrials.
    SM Investments Corp and Aboitiz Equity Ventures
 plunged 3.2 percent and 4 percent, respectively. 
    "Investors are worried that the recent typhoon, which
damaged crops of about 17 billion pesos ($314.29 million), might
put pressure on inflation," said Manny Cruz, an analyst with
Manila-based Asiasec Equities Inc.
    The Philippine central bank meets on Sept. 27, and is likely
to raise interest rates for a fourth time this year in a bid to
tame a nearly decade-high inflation and support the local
currency.   
      
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SOUTHEAST ASIAN STOCK MARKETS
      
 Market          Current   Previous close  Pct Move
 Singapore       3180.43   3176.57         0.12
 Bangkok         1752.11   1749.8          0.13
 Manila          7134.73   7221.23         -1.20
 Jakarta         5931.266  5873.597        0.98
 Kuala Lumpur    1803.7    1800.71         0.17
 Ho Chi Minh     1004.74   995.54          0.92
                                           
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3180.43   3402.92         -6.54
 Bangkok         1752.11   1753.71         -0.09
 Manila          7134.73   8558.42         -16.63
 Jakarta         5931.266  6355.654        -6.68
 Kuala Lumpur    1803.7    1796.81         0.38
 Ho Chi Minh     1004.74   984.24          2.08
 
($1 = 54.0900 Philippine pesos)

 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by
Subhranshu Sahu)
  
Nuestros Estándares:Los principios Thomson Reuters
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