January 14, 2020 / 9:56 AM / 11 days ago

SE Asia Stocks-Most rise on U.S.-China trade deal, Singapore leads

    * Singapore closes at over 2-month high
    * Indonesia rises for fourth straight session
    * China Dec exports up 7.6% y/y, beats forecast

    By Sameer Manekar
    Jan 14 (Reuters) - Most Southeast Asian stock markets ended
higher on Tuesday, underpinned by optimism on the imminent
signing of a Phase 1 trade deal between the United States and
China, with Singapore leading gains lifted by the industrial
sector.
    Under the terms of the trade deal to be signed on Wednesday
in Washington, China has pledged to buy nearly $80 billion worth
of additional manufactured goods from the United States over the
next two years, and would also buy more than $50 billion more in
energy supplies, a source told Reuters on Monday.
    "Asia markets are expected to sing to the cheer on Wall
Street with the alleviation of U.S.-China trade tensions
carrying this week," IG Asia said.
    Aiding the sentiment further, exports from the region's
largest trading partner, China, rose for the first time in five
months in December and by more than expected, signalling a
modest recovery in demand.
    In Southeast Asia, the benchmark index of trade-reliant
Singapore closed at a more than 2-month high, driven by
major gains in the industrial sector.
    Industrial conglomerates Jardine Strategic Holdings
and Jardine Matheson Holdings advanced 4.6% and 3.8%,
respectively.
    Indonesian shares ended higher for the fourth
consecutive session. Bank Rakyat Indonesia (Persero)
added 1.3%, while Unilever Indonesia was up 0.9%.
    The Philippine bourse reversed course from earlier in
the session as investors rushed back to equities in last minute
trading. The index gained 16.48 points after losing as much as
92.49 points earlier.
    Consumer firms lifted the index, with food and beverage firm
Universal Robina Corp jumping 6.5%.
    Malaysian equities fell for a third straight
session, however, though the main index trimmed its earlier
losses to finish 0.3% lower.
    Indian palm oil importers effectively stopped all purchases
from Malaysia, the world's second largest palm producer, after
the government privately urged them to boycott its product
following a diplomatic spat, sources said.
    Malaysia's exports to India constituted nearly a quarter of
its total palm oil exports in 2019 bit.ly/2QSGy9W.
According to government data from 2018 bit.ly/36RmLgF,
palm oil was the major contributor to the gross domestic product
of the country's agriculture sector.
    Sime Darby Plantation and IJM Plantations
 ended 2.2% and 3.6% lower, respectively.
    Thai stocks finished marginally higher, while
Vietnam index gained 0.1%.
    
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3270.54   3251.07         0.60
 Bangkok                1586.9    1586.16         0.05
 Manila                 7793.25   7776.77         0.21
 Jakarta                6325.406  6296.567        0.46
 Kuala Lumpur           1580.6    1584.73         -0.26
 Ho Chi Minh            967       965.84          0.12
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3270.54   3222.83         1.48
 Bangkok                1586.9    1563.88         1.47
 Manila                 7793.25   7,466.02        4.38
 Jakarta                6325.406  6,194.50        2.11
 Kuala Lumpur           1580.6    1588.76         -0.51
 Ho Chi Minh            967       892.54          8.34
 
 (Reporting by Sameer Manekar in Bengaluru; Editing by Alex
Richardson)
  
Nuestros Estándares:Los principios Thomson Reuters
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