June 7, 2019 / 3:50 AM / 11 days ago

SE Asia Stocks-Most rise on Fed rate cut hopes, await U.S. jobs data

    * Singapore likely to rise 1.4% this week
    * Vietnam set for 3rd weekly loss
    * Thailand poised for biggest weekly gain since late Jan

    By Niyati Shetty
    June 7 (Reuters) - Most Southeast Asian stock markets eked
out gains on Friday ahead of key U.S. employment data that could
solidify growing expectations of a rate cut by the U.S. Federal
Reserve.
    Following Wednesday's weaker-than-expected U.S. private
sector jobs report, the critical non-farm payrolls data due
later on Friday will provide further insight into the state of
the world's largest economy.
    Markets aggressively started factoring in potential rate
cuts after top Fed officials earlier this week moved away from
their "patient" stance and warned that the fallout from the
trade wars may force them to respond appropriately.
    The Singapore index gained up to 0.6% and was on
track to rise 1.4% this week. Industrials and financial stocks
buoyed the index, with conglomerate Jardine Strategic Holdings
 adding 0.6% and United Overseas Bank rising
1.1%.
    OCBC Bank in a note said while markets await U.S. data,
optimism over a possible U.S.-Mexico trade deal may also give
boost to Singapore stocks. 
    Broader financial markets rose on optimism that a trade deal
between the North American neighbours could be close, possibly
postponing the 5% tariffs on Mexican goods due to start on
Monday.
    A U.S. tariff war with Mexico could further depress the
global economic activity which has taken a hit from the
protracted Sino-U.S. trade spat. 
    Malaysian stocks gained as much as 0.5% on Friday
after returning from a two-and-a-half day market holiday. 
    Telecommunication shares were among the top gainers, with
Axiata Group and Maxis each gaining about
2%.
    The Vietnam index rose as much as 0.7% but was set
for a third weekly loss. Financials and real estate sectors
supported the benchmark. 
    Thai shares were poised to rise for a fourth
straight session and to gain 2.3% for the week, the most since
late January. 
    Philippine equities declined 0.4% as industrial and
real estate stocks weighed on the index. SM Investments Corp
 and SM Prime Holdings Inc slipped 2.1% and
0.5%, respectively.
    Markets in Indonesia are closed for a public holiday.
    
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0323 GMT
    
 Market                 Current   Previous close  Pct Move
 Singapore              3161.81   3146.18         0.50
 Bangkok                1656.93   1653.41         0.21
 Manila                 7923.55   7959.86         -0.46
 Kuala Lumpur           1648.43   1644.09         0.26
 Ho Chi Minh            952.5     948.21          0.45
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3161.81   3068.76         3.03
 Bangkok                1656.93   1563.88         5.95
 Manila                 7923.55   7,466.02        6.13
 Kuala Lumpur           1648.43   1690.58         -2.49
 Ho Chi Minh            952.5     892.54          6.72
 
 (Reporting by Niyati Shetty in Bengaluru)
  
Nuestros Estándares:Los principios Thomson Reuters
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