July 4, 2019 / 3:18 AM / 3 months ago

SE Asia Stocks-Rise as weak US data boosts hopes of Fed rate cut

    * Malaysia May trade data due at 0400 GMT
    * Singapore recovers after two lacklustre sessions

    By Rashmi Ashok
    July 4 (Reuters) - Southeast Asian stock markets inched
higher on Thursday in thin trade, as weak economic data in the
United States fuelled hopes of a U.S. Federal Reserve rate cut
as early as July, which boosted risk appetite.    
    "Risk-on sentiment returns with sputtering U.S. economic
data putting the Fed policy easing back in focus," ING said in a
    "Disappointing services data and still widening trade
deficit in the United States has stoked expectations that the
Fed is on track to cut policy rates as early as July," it added.
    Data showed the U.S. trade deficit jumped in May and
Sino-U.S. trade tensions helped drive activity in the services
sector to a two-year low in June, while private employers added
far fewer-than-expected jobs to their payrolls.
    Singapore's index advanced, after two tepid sessions
where the index closed flat. Lender Oversea-Chinese Banking
Corporation Ltd gained 0.4% while conglomerate Jardine
Matheson Holdings added 0.7%.
    Malaysia's benchmark traded sideways as winds of
caution rose ahead of the release of its May trade data, which
is due at 0400 GMT. 
    A Reuters poll showed that its exports likely increased 3.6%
in May from a year earlier, faster than the previous
    "Electronics exports are holding up relatively well in face
of large declines elsewhere. A stark contrast with Singapore...
probably reflects supply chain relocation from Singapore to
Malaysia," ING noted.
    "Even so, it's hard to see Malaysia's electronics exports
continuing to defy the global downturn."
    Vietnam's index was the top gainer in the region, up
0.6%. Joint Stock Commercial Bank for Foreign Trade of Vietnam
 and Vingroup JSC were among top boosts to the
index, rising 2.2% and 0.4% respectively.
    Thai stocks, the region's sole gainer in the
previous session, rose 0.3%. Recent strength in the Thai baht
has driven a surge in foreign fund inflows since June.
For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3375.6    3367.8          0.23
 Bangkok                1743.44   1738.51         0.28
 Manila                 8101.58   8092.68         0.11
 Jakarta                6375.533  6362.622        0.20
 Kuala Lumpur           1690.34   1690.05         0.02
 Ho Chi Minh            966.02    960.39          0.59
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3375.6    3068.76         10.00
 Bangkok                1743.44   1563.88         11.48
 Manila                 8101.58   7,466.02        8.51
 Jakarta                6375.533  6,194.50        2.92
 Kuala Lumpur           1690.34   1690.58         -0.01
 Ho Chi Minh            966.02    892.54          8.23

 (Reporting by Rashmi Ashok in Bengaluru; editing by Rashmi
Nuestros Estándares:Los principios Thomson Reuters
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