October 29, 2019 / 4:30 AM / 7 months ago

SE Asia Stocks-Most rise on U.S.-China trade deal hopes; Singapore leads gains

    * Singapore marks biggest gain in nearly 7 weeks
    * Trump: "ahead of schedule" on China trade deal
    * Thai Sept. manufacturing production index -4.7%

    By Sameer Manekar
    Oct 29 (Reuters) - Most Southeast Asian markets rose on
Tuesday, with Singapore gaining the most, as progress in
Sino-U.S. trade talks raised hopes of a de-escalation in their
long drawn dispute. 
    U.S. President Donald Trump on Monday said he expected to
sign a significant part of a trade deal with China ahead of
schedule, which follow remarks late last week from both Chinese
and U.S. officials saying the two sides were "close to
finalising" a deal.
    Adding to the optimism, the U.S. Trade Representative is
also considering extending tariff suspensions on $34 billion in
Chinese goods set to expire late in December, the agency said on
    Investors are also waiting for the outcome of the U.S.
Federal Reserve's policy meeting on Wednesday. The central bank
is seen reducing rates by 25 basis points as poor data from the
two countries has led to worries of a global economic slowdown.
    Resuming trade after a public holiday, Singapore shares
 touched a near three-month high and were set for the best
session in nearly two months.
    "With positive sentiment from the U.S. trading session, the
STI may attempt to stand above 3,200 points this week.
Technology, real estates, financial and consumer sectors are set
to lead the gain today," Margaret Yang Yan, market analyst at
CMC Markets said in a note.
    Industrials were among the biggest gainers, with
heavyweights Jardine Matheson Holdings and Jardine
Strategic Holdings rising 2.5% and 1.7%, respectively.
    Thai stocks advanced 0.4%, shrugging off a
worse-than-expected fall in the country's September
manufacturing production index. 
    Consumer firms were among the top gainers. Charoen Pokphand
Foods PCL and retailer Home Product Center PCL
 rose 3.1% and 5.5%, respectively.
    Malaysian shares inched up 0.1%, helped by gains in
the financial sector.
    Hong Leong Financial Group and RHB Bank
were up 2% and 1.4%, respectively.
    Indonesia's benchmark index was marginally lower,
while the Philippine bourse remained little changed.  

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 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3207.67   3185.53         0.70
 Bangkok                1603.25   1596.48         0.42
 Manila                 7947.68   7946.53         0.01
 Jakarta                6262.456  6265.384        -0.05
 Kuala Lumpur           1572.06   1570            0.13
 Ho Chi Minh            998.29    996.48          0.18
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3207.67   3068.76         4.53
 Bangkok                1603.25   1563.88         2.52
 Manila                 7947.68   7,466.02        6.45
 Jakarta                6262.456  6,194.50        1.10
 Kuala Lumpur           1572.06   1690.58         -7.01
 Ho Chi Minh            998.29    892.54          11.85
 (Reporting by Sameer Manekar in Bengaluru; editing by
Nuestros Estándares:Los principios Thomson Reuters
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