SE Asia Stocks-Most bounce back after Chinese President's comments revive trade deal hopes

By Arundhati Dutta

* Singapore snaps 3-session losing streak, rises over 1% * Philippines recovers from a 6-week low earlier in the day * Vietnam slips 1%, closes at over 2-month low By Arundhati Dutta Nov 22 (Reuters) - Most Southeast Asian stock markets shed early losses to close higher on Friday, with Singapore leading the pack after Chinese President Xi Jinping revived hopes of reaching an interim trade deal with the United States. Investor sentiment turned after Xi said China wants to work out an initial deal and has been working actively to avoid a trade war. However, hopes were held in check as U.S. President Donald Trump is soon expected to sign the bills backing pro-democracy Hong Kong protesters into law, stoking fears that the already fragile Sino-U.S. ties may worsen. "Thankfully, China appears to be blaming Congress, and not President Trump and his coterie, for the Hong Kong Law. After some initial grumbling, China prefers to concentrate on the more significant issues at hand," Jeffrey Halley, senior market analyst at Asia Pacific OANDA, wrote in a note. Trade-sensitive Singapore equities rebounded from an over 1% tumble in the previous session to end 1.1% higher. Conglomerate Jardine Matheson Holdings tacked on 2.5% while Jardine Strategic Holdings rose 1.7%. Philippines markets, which had fallen as much as 1.4% earlier in the day to hit a six-week low, recovered in late trade to close flat. Thai shares advanced 0.4%, lifted by financials. Lenders Siam Commercial Bank and Kasikornbank gained 0.9% and 2.3%, respectively. Malaysian stocks added 0.3%, with index heavyweight and electricity retailer Tenaga Nasional rising 0.7%. However, the Vietnamese index closed at its lowest level in over two months and logged its biggest weekly drop in nearly a year. Joint Stock Commercial Bank for Foreign Trade of Vietnam and Joint Stock Commercial Bank for Investment and Development of Vietnam lost 2.3% and 2.4%, respectively. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3225.65 3192.21 1.05 Bangkok 1597.72 1591.86 0.37 Manila 7824.59 7818.89 0.07 Jakarta 6100.242 6117.364 -0.28 Kuala Lumpur 1596.84 1592.19 0.29 Ho Chi Minh 977.78 987.89 -1.02 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3225.65 3068.76 5.11 Bangkok 1597.72 1563.88 2.16 Manila 7824.59 7,466.02 4.80 Jakarta 6100.242 6,194.50 -1.52 Kuala Lumpur 1596.84 1690.58 -5.54 Ho Chi Minh 977.78 892.54 9.55 (Reporting by Arundhati Dutta; Editing by Shailesh Kuber)