October 14, 2019 / 4:59 AM / a month ago

SE Asia Stocks-Rise on Sino-U.S. trade truce; dismal China data caps gains

    * China's Sept exports, imports in deeper contraction
    * Singapore's central bank eases monetary policy
    * Malaysia widens fiscal deficit target, promises stimulus

    By Sameer Manekar
    Oct 14 (Reuters) - Southeast Asian stock markets rose on
Monday as signs of progress in the Sino-U.S. trade standoff
boosted risk sentiment, while gains were limited as dismal data
from China, the region's biggest trading partner, pointed to
weakness in the economy. 
    China's exports fell at a faster pace in September, while
imports contracted for a fifth straight month, pointing to
further weakness in the economy and underlining the need for
more stimulus as the Sino-U.S. trade war drags on.
    Meanwhile, U.S. President Donald Trump on Friday had
outlined the first phase of a deal and suspended the tariff hike
threatened to be imposed on Tuesday, raising hopes of an end to
a long drawn-out trade war with China that has hurt global
economic growth. 
    "Until the deal is signed, and there's enough compliance and
follow-through that appease all stakeholders, investors can't
fully rule out the risk of another flare-up in the U.S.-China
trade tensions. Such a risk warrants an air of caution among
investors for the time being," said Han Tan, market analyst at
FXTM.
    Broader Asian markets also gained, as investors welcomed
signs that talks to resolve the U.S.-China trade row were moving
to the next level, with MSCI's broadest index of Asia-Pacific
shares outside Japan up 1.1% in light trade.
    The Malaysian benchmark index extended gains for a
third straight session, after the government announced a
smaller-than-expected budget for next year but said it would
step in with stimulus measures should global demand worsen. 

    Energy shipping provider MISC Bhd was the biggest
gainer in the index, rising 4.2% to hit its highest in nearly
three-and-a-half years. 
    Meanwhile, Singapore's Straits Times index gained
after the central bank eased its monetary policy. 
    The drag from the trade war was a major reason the Monetary
Authority of Singapore eased its monetary policy for the first
time in three years as data showed the city-state's economy had
only narrowly dodged recession. 
    Thai Beverage PCL, the biggest gainer in the
index, climbed 2.3% to see its best session in a week.
    Indonesian stocks hit their highest in nearly two
weeks, with PT Bank Central Asia, the biggest stock by
market capitalisation in the index, marking its strongest in
more than two months.    
    Philippine stocks rose 0.5%, with real-estate firm
Ayala Corp gaining 1.2%.
    Thailand markets were closed on Monday for a holiday.
    
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0430 GMT
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3125.16   3113.97         0.36
 Manila                 7885.87   7849.94         0.46
 Jakarta                6134.189  6105.8          0.46
 Kuala Lumpur           1565.77   1556.84         0.57
 Ho Chi Minh            994.46    991.84          0.26
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3125.16   3068.76         1.84
 Bangkok                1626      1563.88         3.97
 Manila                 7885.87   7,466.02        5.62
 Jakarta                6134.189  6,194.50        -0.97
 Kuala Lumpur           1565.77   1690.58         -7.38
 Ho Chi Minh            994.46    892.54          11.42
 
 (Reporting by Sameer Manekar in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
Nuestros Estándares:Los principios Thomson Reuters
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