SE Asia Stocks-Most gain on trade deal optimism, Thailand leads gains

By Sameer Manekar

* Thailand sees best day in over 3 weeks * Singapore hits over 3-month high * Vietnam stocks hit over 1-year high By Sameer Manekar Nov 4 (Reuters) - Most Southeast Asian markets rose on Monday, with Thailand leading gains, as progress in the long drawn Sino-U.S. trade talks and strong jobs data from the United States buoyed risk appetite. Washington and Beijing said on Friday the two sides had made progress in resolving a near 16-month long trade dispute, soothing some worries over the economic fallout from their trade war. However, sentiment remained in check, given the tumultuous nature of previous attempts at reaching a deal. "While a deal may appear to be within sights, markets' provision for disappointment could still keep optimism leashed," Maybank said in a note. Meanwhile, data released on Friday showed the U.S. job growth slowing less than expected in October, showing that the world's largest economy still had some resilience. Thai stocks gained as much as 1.2%, to mark their biggest intraday gain in over three weeks. Utilities and financials sectors were among the biggest gainers, with Gulf Energy Development PCL and Kasikornbank PCL rising 3.2% and 5.4%, respectively. The Philippine bourse advanced 0.6% as financials and utilities firms gained. Bank of the Philippine Islands and Manila Electric Co were up as much as 1.8% and 2.9%, respectively. Singapore's Straits Times index gained up to 0.6% to a more-than three-month high, lifted by financials and consumer firms. DBS Group Holdings and Jardine Cycle & Carriage Ltd gained up to 1.5% each. Meanwhile, factory activity in China, the region's largest trading partner, expanded unexpectedly at the fastest pace in over two years in October, according to data released on Friday, easing concerns of a slowdown in demand from the world's second largest economy due to U.S. tariffs. The Malaysian index edged up 0.3%, with Sime Darby Plantation and Maxis Bhd rising 1% and 1.3%, respectively. The country's September exports was worse than expected by falling 6.8% from a year ago, compared with a Reuters poll forecast of 0.1% decline. Indonesia's benchmark index edged lower, while Vietnam's benchmark index rose to its highest since October 2018. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0427 GMT STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3233.55 3229.43 0.13 Bangkok 1608.54 1592.52 1.01 Manila 8028.2 7977.12 0.64 Jakarta 6202.581 6207.191 -0.07 Kuala Lumpur 1597.07 1593.34 0.23 Ho Chi Minh 1020.83 1015.59 0.52 Change on year Market Current End 2018 Pct Move Singapore 3233.55 3068.76 5.37 Bangkok 1608.54 1563.88 2.86 Manila 8028.2 7466.02 7.53 Jakarta 6202.581 6194.498 0.13 Kuala Lumpur 1597.07 1690.58 -5.53 Ho Chi Minh 1020.83 892.54 14.37 (Reporting by Sameer Manekar in Bengaluru; editing by Uttaresh.V)