November 4, 2019 / 4:38 AM / 11 days ago

SE Asia Stocks-Most gain on trade deal optimism, Thailand leads gains

    * Thailand sees best day in over 3 weeks
    * Singapore hits over 3-month high
    * Vietnam stocks hit over 1-year high

    By Sameer Manekar
    Nov 4 (Reuters) - Most Southeast Asian markets rose on
Monday, with Thailand leading gains, as progress in the long
drawn Sino-U.S. trade talks and strong jobs data from the United
States buoyed risk appetite.
    Washington and Beijing said on Friday the two sides had made
progress in resolving a near 16-month long trade dispute,
soothing some worries over the economic fallout from their trade
war. 
    However, sentiment remained in check, given the tumultuous
nature of previous attempts at reaching a deal. 
    "While a deal may appear to be within sights, markets'
provision for disappointment could still keep optimism leashed,"
Maybank said in a note.
    Meanwhile, data released on Friday showed the U.S. job
growth slowing less than expected in October, showing that the
world's largest economy still had some resilience.
    Thai stocks gained as much as 1.2%, to mark their
biggest intraday gain in over three weeks.
    Utilities and financials sectors were among the biggest
gainers, with Gulf Energy Development PCL and
Kasikornbank PCL rising 3.2% and 5.4%, respectively.
    The Philippine bourse advanced 0.6% as financials and
utilities firms gained. 
    Bank of the Philippine Islands and Manila Electric
Co were up as much as 1.8% and 2.9%, respectively.
    Singapore's Straits Times index gained up to 0.6% to
a more-than three-month high, lifted by financials and consumer
firms.
    DBS Group Holdings and Jardine Cycle & Carriage
Ltd gained up to 1.5% each.
    Meanwhile, factory activity in China, the region's largest
trading partner, expanded unexpectedly at the fastest pace in
over two years in October, according to data released on Friday,
easing concerns of a slowdown in demand from the world's second
largest economy due to U.S. tariffs.
    The Malaysian index edged up 0.3%, with Sime Darby
Plantation and Maxis Bhd rising 1% and 1.3%,
respectively.
    The country's September exports was worse than expected by
falling 6.8% from a year ago, compared with a Reuters poll
forecast of 0.1% decline.
    Indonesia's benchmark index edged lower, while
Vietnam's benchmark index rose to its highest since
October 2018.
    
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0427 GMT
    
 STOCK MARKETS                                
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3233.55   3229.43         0.13
 Bangkok            1608.54   1592.52         1.01
 Manila             8028.2    7977.12         0.64
 Jakarta            6202.581  6207.191        -0.07
 Kuala Lumpur       1597.07   1593.34         0.23
 Ho Chi Minh        1020.83   1015.59         0.52
                                              
 Change on year                               
 Market             Current   End 2018        Pct Move
 Singapore          3233.55   3068.76         5.37
 Bangkok            1608.54   1563.88         2.86
 Manila             8028.2    7466.02         7.53
 Jakarta            6202.581  6194.498        0.13
 Kuala Lumpur       1597.07   1690.58         -5.53
 Ho Chi Minh        1020.83   892.54          14.37
 
 (Reporting by Sameer Manekar in Bengaluru; editing by
Uttaresh.V)
  
Nuestros Estándares:Los principios Thomson Reuters
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