January 9, 2019 / 9:59 AM / 6 months ago

SE Asia Stocks-Most rise as optimism grows about Sino-US trade talks

    * Philippine stocks jump to 9-month closing high
    * Singapore shares extend gains into 4th session

    By Niyati Shetty
    Jan 9 (Reuters) - Most Southeast Asian stock markets closed
higher on Wednesday, with Philippines rising nearly 3 percent,
on rising optimism that talks between China and the United
States could end a months-long trade war between the world's top
two economies.
    Chinese and U.S. teams ended trade talks in Beijing on
Wednesday that lasted longer than expected, with China's Foreign
Ministry spokesman Lu Kang saying that the longer-than-expected
negotiations suggested the countries were serious in talks.

    "Sentiment across the region is improving due to the current
talks between U.S. and China, as investors are already buying
back their positions in the market in expectation of positive
results," said Rachelle Cruz, an analyst with AP Securities.
    Philippine shares closed 2.8 percent higher, posting
their sharpest gain since Sept. 21, 2018 and their highest close
in nine months, supported by industrials.
    Conglomerates SM Investments Corp and JG Summit
Holdings Inc advanced 6.1 percent and 5.9 percent,
    "Foreign investors are coming back to the Philippine markets
since the macro concerns have partly improved and the currency
has strengthened against the dollar," said Cruz. 
    Foreign investors have invested a net $75.53 million in
equities so far this year after offloading $1.08 billion last
    Last week, government data showed that inflation cooled more
than expected in December. The market now awaits trade data for
November due this week for further clues about the economy.
    Singapore stocks climbed 1.1 percent, extending gains
into a fourth session. Jardine Matheson Holdings Ltd,
the index's largest company by market value, rose 1.9 percent,
while DBS Group Holdings Ltd gained 1.4 percent. 
    Vietnam shares advanced over 1 percent, boosted by
financial and real estate stocks. Joint Stock Commercial Bank
for Investment and Development of Vietnam rose 3.1
percent, while Vincom Retail JSC gained 5.3 percent.
    Meanwhile, Thai shares ended marginally lower,
snapping three straight sessions of gains, dragged by healthcare
    Bangkok Dusit Medical Services PCL and Bumrungrad
Hospital PCL slumped 8.5 percent and 9.4 percent,
For Asian Companies click;  

 Market                 Current   Previous close  Pct Move
 Singapore              3158.07   3122.94         1.12
 Bangkok                1590.5    1594            -0.22
 Manila                 7919.67   7702.12         2.82
 Jakarta                6272.238  6262.847        0.15
 Kuala Lumpur           1667.83   1672.76         -0.29
 Ho Chi Minh            896.99    887.44          1.08
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3158.07   3068.76         2.91
 Bangkok                1590.5    1563.88         1.70
 Manila                 7919.67   7,466.02        6.08
 Jakarta                6272.238  6,194.50        1.25
 Kuala Lumpur           1667.83   1690.58         -1.35
 Ho Chi Minh            896.99    892.54          0.50
 (Reporting by Niyati Shetty in Bengaluru, Additional Reporting
by Soumyajit Saha and Gaurav Dogra; Editing by Subhranshu Sahu)
Nuestros Estándares:Los principios Thomson Reuters
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