November 5, 2019 / 10:20 AM / 13 days ago

SE Asia Stocks-End higher on tariff relief hopes, Philippines at over 3-mth high

    * Malaysia mostly flat, c.bank holds interest rate
    * Indonesia Q3 GDP broadly in line with expectations
    * Philippines surges in last-minute trade

    By Sameer Manekar
    Nov 5 (Reuters) - Southeast Asian stock markets closed
higher on Tuesday, with Philippines rising the most, as risk
appetite was boosted by a report that the United States was
planning to drop some tariffs on Chinese goods.
    Global equities rose after the Financial Times reported that
the United States was considering rolling back levies on $112
billion of Chinese imports as a concession to a partial deal,
which could be signed this month, according to U.S. officials.

    "If the U.S. does roll back existing tariffs, the positive
spillover will extend beyond financial markets, as such a move
would alleviate the downwards pressures on global trade
conditions as well," said Han Tan, market analyst at FXTM in a
note.
    Meanwhile, the central bank of China cut interest rates on
its medium-term lending facility loans to support economic
growth and tackle any fallout from the country's trade dispute
with the United States.
    The Philippine bourse closed at its highest level in
more than three months, rising for a second consecutive session.
A bulk of the bourse's gains came from last minute buying into
heavyweight stocks.
    The country's annual rate of inflation eased for a fifth
straight month in October and was within the central bank's
target for the month.
    Financials and consumer firms lifted the index, with Bank of
the Philippine Islands and SM Investments Corp
rising 2.8% and 6.4%, respectively.
    Indonesian shares snapped their three-day streak of
losses, rising the most in over three weeks as financial and
consumer sectors rose.
    Bank Mandiri (Persero) and poultry feed producer
Charoen Pokphand Indonesia were up 4.7% and 6.6%,
respectively.
    The country's economy grew at its weakest pace in over two
years in the third quarter, signalling the possibility of
further stimulus measures.
    An index of the country's 45 most liquid stocks
ended 2.4% higher.
    Singapore's benchmark index closed at its highest in
over three months, rising on the back of consumer and industrial
firms.
    Industrial conglomerate Jardine Strategic Holdings
added 2.2%, while auto manufacturer Jardine Cycle & Carriage
 rose 1.8%.
    Malaysia's benchmark index ended slightly higher
after the central bank kept its benchmark interest rate
unchanged on Tuesday, as forecast by a Reuters poll.

    Thai stocks closed at their two-week high, ahead of
a Bank of Thailand policy meeting on Wednesday.
    The central bank is expected to stand pat on its benchmark
interest rate, according to a Reuters poll.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3248.63   3236.4          0.38
 Bangkok                1626.87   1622.25         0.28
 Manila                 8216.68   8059.65         1.95
 Jakarta                6264.152  6180.344        1.36
 Kuala Lumpur           1606.74   1603.56         0.20
 Ho Chi Minh            1024.34   1022.43         0.19
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3248.63   3068.76         5.86
 Bangkok                1626.87   1563.88         4.03
 Manila                 8216.68   7,466.02        10.05
 Jakarta                6264.152  6,194.50        1.12
 Kuala Lumpur           1606.74   1690.58         -4.96
 Ho Chi Minh            1024.34   892.54          14.77
 
 (Reporting by Sameer Manekar in Bengaluru; Editing by Anil
D'Silva)
  
Nuestros Estándares:Los principios Thomson Reuters
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