January 16, 2020 / 10:16 AM / in 6 months

SE Asia Stocks-Most rise after Sino-U.S. trade deal; Thailand leads gains

    * U.S.-China sign Phase 1 deal
    * Singapore shares hit near 10-week high
    * Philippines sole loser in the region

    By Anushka Trivedi
    Jan 16 (Reuters) - Most Southeast Asian markets rose on
Thursday, with Thailand leading the pack, as risk sentiment
improved after the United States and China signed an interim
trade deal to diffuse their 18-month-long dispute.
    U.S. President Donald Trump and Chinese Vice Premier Liu He
on Wednesday signed the pact that will roll back some tariffs
and see Beijing boost purchases of U.S. goods and services by
$200 billion over two years.
    The deal, however, does not fully eliminate the tariffs or
address several structural differences that led to the dispute.
    "The most difficult topics such as Chinese industrial
subsidies are pushed to a phase 2 deal, which we do not expect
before the U.S. elections in November," ING analysts said in a
note.
     "At least the deal takes away some of the trade uncertainty
that affected businesses in the past two years", they added.
    The Thai benchmark index jumped 0.9% to a near
two-month high amid broad-based gains.
    Electricity retailer Gulf Energy Development PCL
climbed 3.4% and property developer Central Pattana PCL
added 4.5%.
    Trade-reliant Singapore shares closed at their
highest in about ten weeks, helped by gains in financials and
telecommunication stocks.
    Southeast Asia's largest lender DBS Group Holdings Ltd
 rose 1%, while Singapore Telecommunications Ltd
 advanced 2.2%.
    Vietnam's index rose 0.7%, while Indonesian shares
 were largely unchanged.    
    Malaysia's stock index pared some early losses to
close flat, with gains in telecom stocks offsetting weaker
consumer stocks.
    Palm oil producer PPB Group Bhd and rival IOI Corp
Bhd fell 0.4% and 1.5%, respectively. An industry
regulator said Malaysia's palm oil exports are expected to drop
by 2.5% this year.
    Additionally, an official said the U.S.-China trade deal
could hurt Malaysian palm oil exports to China as Beijing will
ramp up its uptake of soybean oil from the United States.

    Meanwhile, Philippine stocks closed at their lowest
since Oct. 3, as consumer and financial stocks weakened.   
    Conglomerate SM Investments Corp slipped 0.9%, while
JG Summit Holdings Inc fell 1.4%.
 

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SOUTHEAST ASIAN STOCK MARKETS        
    
 STOCK MARKETS                                    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3278      3256.98         0.65
 Bangkok                1595.87   1581.05         0.94
 Manila                 7653.18   7664.4          -0.15
 Jakarta                6286.048  6283.365        0.04
 Kuala Lumpur           1587.88   1585.14         0.17
 Ho Chi Minh            974.31    967.56          0.70
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              3278      3222.83         1.71
 Bangkok                1595.87   1579.84         1.01
 Manila                 7653.18   7,815.26        -2.07
 Jakarta                6286.048  6,299.54        -0.21
 Kuala Lumpur           1587.88   1588.76         -0.06
 Ho Chi Minh            974.31    960.99          1.39
 
 (Reporting by Anushka Trivedi in Bengaluru; Editing by Devika
Syamnath)
  
Nuestros Estándares:Los principios Thomson Reuters
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