February 25, 2019 / 10:02 AM / 3 months ago

SE Asia Stocks-Climb on trade optimism; Thailand top gainer

    * Vietnam extends gains to 4-1/2-month closing high
    * Singapore flat, Jan inflation below expectations 

    By Shriya Ramakrishnan
    Feb 25 (Reuters) - Southeast Asian stock markets rose on
Monday, in line with broader Asia, after U.S. President Donald
Trump said he would delay a planned tariff hike on Chinese goods
following  "productive" trade negotiations.
    Trump tweeted on Sunday that he would push back the March 1
deadline for a scheduled hike in tariffs on Chinese imports, and
said he looked forward to a meeting with Chinese President Xi
Jinping to secure a deal if progress in talks continued.

    Broader Asian markets inched higher, with MSCI's broadest
index of Asia-Pacific shares outside Japan
hitting its highest since October.
    Thai stocks hit a more than two-month high in
broad-based gains and were the top performers in Southeast Asia.
    State energy firm PTT Pcl gained 1 percent, while
convenience store operator CP All Pcl rose 1.9
percent.
    Vietnam shares climbed for a sixth straight session
to their highest close in more than four-and-a-half months,
supported by financial and consumer stocks.
    The Joint Stock Commercial Bank for Foreign Trade of Viet
Nam, Vietnam's largest listed bank, advanced 2.3
percent, while Vietnam Dairy Products JSC rose 1.8
percent.
    Malaysian shares were marginally higher as a fall in
telecom giant Axiata Group Bhd kept the benchmark
stock index in check.
    Shares of Axiata Group fell 1.9 percent after the telecom
company reported a quarterly net loss of 1.66 billion ringgit 
($407.86 million), compared with a profit of 24.7 million
ringgit a year earlier.
    Meanwhile, Singapore shares ended flat after trading
lower for most parts of the session. 
    The city-state's annual consumer price inflation slowed to
0.4 percent in January from 0.5 percent the previous month, and
authorities lowered their inflation forecast for 2019 citing an
expected decline in global oil prices for the year.
    The data comes amidst a slowdown in economic growth in
Singapore and a warning from the trade ministry that
manufacturing is likely to face significant moderation this
year. 
    The Philippine stock market was closed for a holiday.
     
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3272.35   3269.9          0.07
 Bangkok                1671.75   1659.2          0.76
 Jakarta                6525.358  6501.378        0.37
 Kuala Lumpur           1724.58   1721.42         0.18
 Ho Chi Minh            994.43    988.91          0.56
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3272.35   3068.76         6.63
 Bangkok                1671.75   1563.88         6.90
 Manila                 7962.13   7,466.02        6.64
 Jakarta                6525.358  6,194.50        5.34
 Kuala Lumpur           1724.58   1690.58         2.01
 Ho Chi Minh            994.43    892.54          11.42
 ($1 = 4.0700 ringgit)

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