January 13, 2020 / 3:54 AM / 10 days ago

SE Asia Stocks-Most markets tepid with U.S.-China trade deal in focus

    * Indonesia set for third straight session of gains
    * Thai parliament passes 2020 budget bill
    * Philippine bourse trading suspended on possible volcano
eruption

    By Sameer Manekar
    Jan 13 (Reuters) - Most Southeast Asian stock markets were
muted on Monday, as investors awaited the planned signing of the
Sino-U.S. Phase 1 trade deal this week, while Thai shares rose
after the country's government passed a draft budget bill to
prop up the economy.
     China's Vice Premier Liu He will visit Washington this week
to sign the trade deal. But the two nations have not yet
finalised what, exactly, will be signed, the White House said on
Friday, adding that the translation of the deal was still not
complete.
    However, White House economic adviser Larry Kudlow told Fox
Business Network that the signing was "all on schedule."
    "People are looking at the details of the deal. There will
be some caution before the deal, possibly profit-taking after
its signing, and given that it is ahead of the Chinese New Year
long holiday, people will be less willing to take on big
positions until the end of the month," Joel Ng, analyst at KGI
Securities said.
    In Southeast Asia, Thai stocks were on track to rise
for a third consecutive session, gaining as much as 0.5% in
early trade.
    The country's parliament on Saturday passed the draft budget
bill for the 2020 fiscal year aimed at boosting Southeast Asia's
second-largest economy, which is growing at its slowest pace in
years.
    The proposed budget foresees a 7% rise in overall spending
for the fiscal year that began on Oct. 1.
    Utilities and real estate firms were among the top
performers, with Gulf Energy Development and Central
Pattana Pcl adding 2.8% and 0.8%, respectively.
    Indonesian shares rose up to 0.4%, and were on track
to post a third straight positive session.
    Energy and communication sectors kept the index afloat, with
mining contractor United Tractors rising 4% and
state-owned Telekomunikasi Indonesia gaining 0.8%.
    An index of Jakarta's 45 most liquid stocks was up
as much as 0.5%.
    Singapore's benchmark index were largely unchanged,
while Malaysian shares edged lower.
    The Philippine stock exchange suspended trading after
a volcano near the capital spewed massive cloud of ash, and
authorities warned of a possible "explosive eruption".


    
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0317 GMT
    
 Market                 Current   Previous close  Pct Move
 Singapore              3255.24   3255.95         -0.02
 Bangkok                1586.28   1580.63         0.36
 Jakarta                6279.645  6274.941        0.07
 Kuala Lumpur           1590.62   1591.46         -0.05
 Ho Chi Minh            967.41    968.54          -0.12
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              3255.24   3222.83         1.01
 Bangkok                1586.28   1579.84         0.41
 Manila                 7776.77   7,815.26        -0.49
 Jakarta                6279.645  6,299.54        -0.32
 Kuala Lumpur           1590.62   1588.76         0.12
 Ho Chi Minh            967.41    960.99          0.67
 

 (Reporting by Sameer Manekar in Bengaluru; Editing by Shailesh
Kuber)
  
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