January 21, 2019 / 10:01 AM / 25 days ago

SE Asia Stocks-Most rise on China stimulus hopes; Vietnam top gainer

    * Thailand rises on 2018 export growth, oil surge
    * Philippines snaps two straight sessions of gains

    By Shreya Mariam Job
    Jan 21 (Reuters) - Most Southeast Asian stock markets rose
on Monday on expectations of further stimulus from China after
data showed the slowest rate of annual economic growth in 28
years, while positive remarks regarding U.S.-China trade
relations boosted investor sentiment.
    China's economic growth cooled slightly to 6.4 percent in
the fourth quarter from a year earlier, weighed down by weak
investment, faltering consumer confidence and the trade war with
the United States, leaving 2018 growth at 6.6 percent, the
weakest since 1990.
    Chinese policymakers have pledged more support to the
economy this year with the government expected to unveil more
fiscal stimulus measures during the annual parliament meeting in
March.
    "Markets had expected the slowing economic growth, I think
focus is shifted to stimulus measures that China has announced
over the past few weeks," said Joel Ng, an analyst with KGI
Securities.
    Meanwhile, U.S. President Donald Trump said on Saturday
there had been progress toward a trade deal with China, but
denied that he was considering lifting tariffs.
    Broader Asian markets edged higher with MSCI's broadest
index of Asia-Pacific shares outside Japan up
0.2 percent. 
    Vietnam stocks led gains in Southeast Asia with a
rise of 1 percent. Financial and real estate stocks were among
the top contributors with both CMC Corp and Ninh Van
Bay Travel Real Estate JSC rising 7 percent.
    Thai shares rose 0.3 percent after data showed
higher exports for 2018 and due to a surge in oil prices. 
    While customs-cleared exports unexpectedly dropped in
December, an 8.15 percent decline in imports resulted in a trade
surplus of $1.06 billion, compared to expectations of $1.1
billion deficit.
    Meanwhile, crude prices rose to their highest in 2019 after
data showed refinery processing in China climbed to a record
last year despite a slowing economy.
    Energy stocks PTT PCL and PTT Exploration and
Production PCL were among the top boosts, rising 1
percent and 1.6 percent, respectively.
    Singapore stocks closed marginally lower ahead of
December inflation data expected on Wednesday. 
    The city-state's consumer price index probably rose 0.4
percent last month from a year earlier, according to a Reuters
poll.
    Philippine shares snapped two straight sessions of
gains as investors booked profits after the benchmark stock
index posted a nine-and-a-half-month closing high on Friday.    
    Malaysian markets were closed for a holiday. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3220.56   3224.34         -0.12
 Bangkok                1588.38   1583.77         0.29
 Manila                 8007.46   8047.12         -0.49
 Jakarta                6450.834  6448.156        0.04
 Ho Chi Minh            911.05    902.3           0.97
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3220.56   3068.76         4.95
 Bangkok                1588.38   1563.88         1.57
 Manila                 8007.46   7,466.02        7.25
 Jakarta                6450.834  6,194.50        4.14
 Ho Chi Minh            911.05    892.54          2.07
 
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)
  
Nuestros Estándares:Los principios Thomson Reuters
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