SE Asia Stocks-Most gain on U.S.-China trade talk progress, Vietnam leads

By Devika Syamnath

* Vietnam top gainer after rate cuts * Most mark weekly gains, as trade tensions ease By Devika Syamnath Sept 13 (Reuters) - Most Southeast Asian stocks markets ended higher on Friday as risk sentiment got a boost from signs of progress in Sino-U.S. trade talks and the European Central Bank's stimulus, with Vietnam leading the gains on rate cuts. Easing trade tensions between the world's two largest economies helped most regional markets, which count China as a key trade partner, notch a weekly gain. Investors' risk appetite was also supported by the European Central Bank's pledge to offer indefinite stimulus to revive an ailing euro zone economy. Leading the gains, Vietnam shares climbed to a more than three-week peak after the country's central bank joined global peers by cutting interest rates, to support growth and control inflation. Banking stocks dominated the gains, with Vietcombank closing at an all-time peak and BIDV ending at its highest level in over one year. Vietnam equities have outperformed regional peers this year, helped by increased foreign investment due to some production being shifted from China to the country due to the Sino-U.S. trade war. Singapore stocks closed 0.5% higher, gaining over 2% this week. The city-state is among the most sensitive to trade war developments. "There's a bit of bargain hunting ... local banks are also trading at very attractive dividend yields," Liu Jinshu, director of research at NRA Capital said. The country's biggest lender DBS Group added 0.8% to close at its highest since early August. Bucking the trend, Indonesian stocks slipped 0.1%, extending losses to a second session. However, the index clocked a gain of 0.4% for the week. "Fundamentals remain intact, over the past couple of days it's been more about profit taking and rotation into laggard names where they (investors) see more upside value," said Taye Shim, head of research, Mirae Asset Sekuritas. Instant noodle maker Indofood CBP Sukses Makmur lost 2.7% on the day, after having advanced over 25% since late March. Consumer goods heavyweight Unilever Indonesia climbed 1.1%, after giving up over 5% so far this month. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3211.49 3194.96 0.52 Bangkok 1661.96 1660.68 0.08 Manila 7992.32 7944.43 0.60 Jakarta 6334.843 6342.174 -0.12 Kuala Lumpur 1601.25 1601 0.02 Ho Chi Minh 987.22 976.07 1.14 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3211.49 3068.76 4.65 Bangkok 1661.96 1563.88 6.27 Manila 7992.32 7,466.02 7.05 Jakarta 6334.843 6,194.50 2.27 Kuala Lumpur 1601.25 1690.58 -5.28 Ho Chi Minh 987.22 892.54 10.61 (Reporting by Devika Syamnath in Bengaluru; Editing by Aditya Soni)