September 4, 2019 / 4:20 AM / 17 days ago

SE Asia Stocks-Thailand leads gains; Singapore advances on China data

    * Thai stocks set to snap two sessions of losses
    * Malaysia July exports above forecast
    * Singapore on track for second straight gain

    By Shreya Mariam Job
    Sept 4 (Reuters) - Thai stocks gained the most in
the region on Wednesday after the country's finance minister
played down recession fears, while Singapore advanced on the
back of upbeat service sector data from China. 
    Thailand's economy is just slowing but not in a recession
yet and recently announced stimulus measures should help lift
growth to 3% this year, the country's finance minister said.

    Analysts expect recent inflation data would lead to an
interest rate cut by Thailand's central bank. 
    "We believe falling inflation allows the Bank of Thailand
space to ease further by at least one more 25bp policy rate cut
in the rest of the year," ING said in a note to clients.
    The Thai SET index rose 0.6%, with gains broad based
and was set to snap two straight sessions of losses. 
    The country's biggest listed energy firm PTT PCL
gained 1.2%, while telecom company Advance Info Service PCL
 added 0.9%. 
    Also helping shrug off sour manufacturing data out of the
United States was China's service sector numbers.
    Activity in China's services sector expanded at the fastest
pace in three months in August as new orders rose, prompting the
biggest increase in hiring in over a year, a private survey
showed on Wednesday.    
    The upbeat data boosted equities in trade-reliant Singapore,
with the city-state's benchmark index gaining 0.4%, on
track to post its second straight gain. 
    Financial and telecom stocks provided the biggest support.
DBS Group Holdings Ltd  edged up 0.4%, while Singapore
Telecommunications Ltd advanced 1%. 
    Vietnam stocks fell 0.5% as financial stocks dropped.
Joint Stock Commercial Bank For Foreign Trade Of Viet Nam
 fell 1% and Joint Stock Commercial Bank for Investment
 shed 1.3%.
    Malaysia stocks inched higher, with a boost from
financial stocks.          
    The country's exports rose unexpectedly in July, rebounding
from a drop in the previous month, lifted by solid demand for
manufactured goods and higher shipments to China, government
data showed on Wednesday.
    Indonesian stocks edged lower, while Philippine
stocks traded relatively flat.
    
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SOUTHEAST ASIAN STOCK MARKETS As at 0346 GMT
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3103.28   3090.63         0.41
 Bangkok                1651.28   1642.25         0.55
 Manila                 7806.08   7804.71         0.02
 Jakarta                6248.475  6261.59         -0.21
 Kuala Lumpur           1592.35   1591.52         0.05
 Ho Chi Minh            974.84    979.36          -0.46
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3103.28   3068.76         1.12
 Bangkok                1651.28   1563.88         5.59
 Manila                 7806.08   7,466.02        4.55
 Jakarta                6248.475  6,194.50        0.87
 Kuala Lumpur           1592.35   1690.58         -5.81
 Ho Chi Minh            974.84    892.54          9.22
 

 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Sriraj
Kalluvila)
  
Nuestros Estándares:Los principios Thomson Reuters
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