SE Asia Stocks-Most gain as China opens firmer after week-long break

By Soumyajit Saha

* China rises as trade talks set to kick off on Thursday * Financial and industrial sectors lift Singapore stocks * Thai cabinet approves larger 2020 budget By Soumyajit Saha Oct 8 (Reuters) - Most Southeast Asian stock markets rose on Tuesday as markets in China, the region's biggest trading partner, opened firmer after a week-long holiday and as traders turned their focus to pivotal Sino-U.S. trade negotiations in Washington later this week. High-level talks between the United States and China are set to kick off on Thursday, while deputy trade negotiators from both countries launched a round of talks at the start of the week, with markets looking for signs of a resolution. "The general feeling in Chinese equity markets is quite positive and that's a pretty convincing signal to other equity markets in Asia," said Stephen Innes, Asia Pacific market strategist, AxiTrader. The Philippine index gained as much as 1% to its highest in more than a week. Conglomerate SM Investments Corp rose 2.5%, while lender BDO Unibank climbed 1.2%. Financial and industrial sectors lifted Singapore shares to their highest since Oct. 2, with United Overseas Bank gaining 1.4% and conglomerate Jardine Strategic Holdings rising 1.5%. Thai stocks extended gains for a second session after a cabinet approved a budget of 3.2 trillion baht ($104.99 billion) for the 2020 fiscal year to bolster Southeast Asia's second-largest economy, which was growing at its weakest pace in nearly five years. The bourse was underpinned by banking and industrial sectors, with lender Central Pattana PCL climbing 0.8%, while Airports of Thailand rose 0.3%. However, Malaysian shares edged lower, dented by heavy losses in healthcare and energy sectors. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 04:55 GMT STOCK MARKETS Change on the day Market Current Previous Pct Move close Singapore 3117.53 3099.48 0.58 Bangkok 1618.88 1613.71 0.32 Manila 7754 7683.22 0.92 Jakarta 6023.281 6000.582 0.38 Kuala Lumpur 1558.3 1559 -0.04 Ho Chi Minh 982.85 983.09 -0.02 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3117.53 3068.76 1.59 Bangkok 1618.88 1563.88 3.52 Manila 7754 7,466.02 3.86 Jakarta 6023.281 6,194.50 -2.76 Kuala Lumpur 1558.3 1690.58 -7.82 Ho Chi Minh 982.85 892.54 10.12 ($1 = 30.4800 baht) (Reporting by Soumyajit Saha in Bengaluru, Editing by Sherry Jacob-Phillips)