August 17, 2018 / 4:05 AM / 9 months ago

SE Asia Stocks-Gain as U.S.-China trade talk plans bring relief

    * Vietnam set to be only weekly gainer in Southeast Asia
    * Asian shares ex-Japan recover from 1-yr low

    By Ambar Warrick
    Aug 17 (Reuters) - Southeast Asian stock markets tracked
Asian shares higher on Friday as the possibility of Sino-U.S.
trade negotiations provided some relief after a week plagued by
anxiety over the global economic health.
    Asian shares outside Japan recovered from a
one-year low after news late Thursday that a Chinese delegation
will meet U.S. representatives later this month, sparking hopes
that they might resolve an escalating trade war between the
    A sustained recovery in the Turkish Lira also aided
sentiment. The currency had rebounded nearly 20 percent by
Thursday from a record low hit early in the week. 
    The currency's collapse, prompted partly by heightened trade
tensions between Turkey and the United States, had sparked an
investor exodus from emerging markets and led to deep losses
throughout most part of the week.
    "Market has stabilised amid renewed hopes of easing trade
tensions as the U.S. and China is set to resume trade talks
later this month, though some market participants still hold
reservation as the negotiation will only be attended by
low-level government officials and the gap on various issues
from intellectual property rights to industrial policies between
both sides remains wide," Mizuho said in a note.
    Malaysian shares rose ahead of second-quarter GDP
data due later in the day. 
    The economic growth is likely to have cooled 5.2 percent in
the second quarter, a Reuters poll showed.
    Malaysian stocks were down 1.2 percent for the week and were
set to snap five consecutive weekly gains.
    Philippine shares firmed about 1 percent, having
fallen in five out of the six previous sessions. 
    Financial conglomerate Ayala Corp gained 2.5
percent, while property developer SM Prime Holdings
firmed 2.5 percent. 
    The index was on track to lose 2.6 percent for the week.
    Indonesian markets were closed for a public holiday.
Jakarta composite index had lost nearly 5 percent over its four
trading sessions this week.
    Meanwhile, Vietnam stocks climbed, on course to be
the only weekly gainers in the region.

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 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3230.6    3211.93         0.58
 Bangkok            1693.39   1680.96         0.74
 Manila             7597.72   7517.36         1.07
 Kuala Lumpur       1783.23   1777.27         0.34
 Ho Chi Minh        969.93    964.28          0.59
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3230.6    3402.92         -5.06
 Bangkok            1693.39   1753.71         -3.44
 Manila             7597.72   8558.42         -11.23
 Kuala Lumpur       1783.23   1796.81         -0.76
 Ho Chi Minh        969.93    984.24          -1.45
 (Reporting by Ambar Warrick in Bengaluru; Editing by Amrutha
Nuestros Estándares:Los principios Thomson Reuters
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