November 12, 2019 / 10:10 AM / 8 months ago

SE Asia Stocks-Rise ahead of Trump's trade policy address

    * Markets await Trump's speech 
    * Bangkok Life Assurance posts upbeat quarterly results
    * Vietcombank rises on deal with FWD Group

    By Anushka Trivedi
    Nov 12 (Reuters) - Southeast Asian markets eked out modest
gains on Tuesday, with trade-sensitive Singapore shares rising
the most as investors eagerly await a key speech by U.S.
President Donald Trump for clues on a U.S.-China trade deal.  
    Later in the day, Trump is scheduled to address U.S. trade
policy at the Economic Club of New York, and markets will tune
in for any upbeat commentary since his remark on Friday, that he
had not agreed to roll back tariffs, had dented prospect of an
imminent trade pact.
    Hopes of positive news from the event boosted Shanghai
 as well as Hong Kong stocks.
    In a low volume session, Singapore shares jumped 0.8%
on strength in industrial stocks. The index had shed about 1.4%
over the past two days.    
    "An improvement in U.S.-China trade relations leaves
Singapore poised better than most, to gain an immediate
benefit," Jeffrey Halley, senior market analyst, Asia Pacific at
OANDA said in a note.
     "The worsening situation in Hong Kong will almost certainly
benefit Singapore in the longer-term, as investment decisions
between the two become no-brainer right now," he added.
    Conglomerates Jardine Strategic Holdings Ltd and
Jardine Matheson Holdings Ltd added 4.8% and 2.6%,
    Thai shares advanced as Bangkok Life Assurance's
 jump in quarterly profit propelled the financials
higher while telco Advanced Info Service PCL tacked
on 2.2%.     
    Vietnam's main index rose 0.2%, buoyed by financials.
    Insurer FWD Group is set to acquire a unit of Vietcombank
, the country's top lender and forge an exclusive
15-year bancassurance tie-up with the bank, in a deal valued at
about $400 million.
    Vietcombank's shares closed up 0.4%.
    Meanwhile, customs data showed Vietnam's trade surplus
widened to $1.86 billion in October as exports rose, when
compared to the previous month.
    Philippine shares ended flat after trading lower
throughout the session as investors picked up heavyweight stocks
SM Prime Holdings Inc and BDO Unibank Inc at
the last minute.
For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3267.8    3240.65         0.84
 Bangkok                1626.2    1622.12         0.25
 Manila                 8012.34   8009.38         0.04
 Jakarta                6180.992  6148.74         0.52
 Kuala Lumpur           1609.73   1608.15         0.10
 Ho Chi Minh            1018.33   1016.75         0.16
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3267.8    3068.76         6.49
 Bangkok                1626.2    1563.88         3.98
 Manila                 8012.34   7,466.02        7.32
 Jakarta                6180.992  6,194.50        -0.22
 Kuala Lumpur           1609.73   1690.58         -4.78
 Ho Chi Minh            1018.33   892.54          14.09
 (Reporting by Anushka Trivedi in Bengaluru; Editing by Shailesh
Nuestros Estándares:Los principios Thomson Reuters
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