November 5, 2019 / 4:45 AM / 12 days ago

SE Asia Stocks-Most gain on optimism over trade deal, China rate cut

    * China C.bank cuts medium-term lending facility interest
rate 
    * Philippines hits over three-month high
    * Malaysia down ahead of cenbank rate decision

    By Sameer Manekar
    Nov 5 (Reuters) - Most Southeast Asian stock markets rose on
Tuesday on signs that Washington and Beijing were nearing a
trade truce, while fresh stimulus measures in China, the
region's largest trading partner, also supported buying.
    Global equities got a boost after the Financial Times
reported that the United States is considering dropping existing
tariffs on Chinese goods as a concession to seal a partial deal,
which according to U.S. officials, could be signed this month. 
 
    "The most significant change on the trade front compared
with just three months ago is that both sides, which were very
negative on the deal, now want to get something signed," said
Joel Ng, analyst, KGI Securities.
    Gestures such as removal of tariffs show the "attitude of
the two countries, that they are keen on getting the deal
signed", which is helping push up equity markets, he added.
    Meanwhile, China's central bank cut the interest rate on its
medium-term lending facility (MLF) for the first time since
early 2016, in a bid to shore up liquidity amid slowing economic
growth. Services sector activity in China expanded at a slower
pace in October.
    In Southeast Asia, the Philippine bourse advanced to
its highest in over three months, after data showed the
country's annual inflation rose 0.8% in October from last year,
remaining within the central bank's forecast range for the
month.
    Financials and consumer firms lifted the index, with Bank of
the Philippine Islands and SM Investments Corp
adding up to 2.6% and 4.3%, respectively.
    Indonesian shares rebounded after three straight
sessions of losses, with Bank Mandiri (Persero) and
poultry feed producer Charoen Pokphand Indonesia
gaining 2.2% and 1.8%, respectively.
    Sentiment got a lift after data showed on Tuesday that the
country's economy grew 5.02% in the third quarter compared with
last year, roughly in line with market expectations.

    An index of Jakarta's 45 most liquid stocks traded
up to 1.2% higher.
    Singapore equities rose on the back of financials and
industrial sectors, with DBS Group Holdings and
Jardine Strategic Holdings advancing up to 1% and 1.8%,
respectively.
    Malaysia's benchmark index traded in negative
territory ahead of a central bank meeting, in which the Bank
Negara Malaysia is expected to keep its benchmark interest rate
unchanged, according to a Reuters poll.
    Thai stocks hit their highest in near two weeks,
with Advanced Info Service PCL and Kasikornbank PCL
 gaining 0.9% and 1.4%, respectively.
    
   For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0434 GMT
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3246.42   3236.4          0.31
 Bangkok            1625.83   1622.25         0.22
 Manila             8142.41   8059.65         1.03
 Jakarta            6213.205  6180.344        0.53
 Kuala Lumpur       1600.44   1603.56         -0.19
 Ho Chi Minh        1023.99   1022.43         0.15
                                              
 Change on year                               
 Market             Current   End 2018        Pct Move
 Singapore          3246.42   3068.76         5.79
 Bangkok            1625.83   1563.88         3.96
 Manila             8142.41   7466.02         9.06
 Jakarta            6213.205  6194.498        0.30
 Kuala Lumpur       1600.44   1690.58         -5.33
 Ho Chi Minh        1023.99   892.54          14.73
 
 (Reporting by Sameer Manekar in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
Nuestros Estándares:Los principios Thomson Reuters
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