SE Asia Stocks-Most inch higher after Trump trade deal remarks
* Philippines bounces back, up over 1% * Indonesia up after 4 sessions of losses * Thailand rolls out new stimulus measures By Arundhati Dutta Nov 27 (Reuters) - Most Southeast Asian stock markets edged higher on Wednesday, with Philippines leading the pack, after U.S. President Donald Trump said the United States and China were close to agreement on the first phase of a trade deal. Trump said on Tuesday Washington was in the "final throes" of a deal that would defuse the 16-month dispute with Beijing, but reiterated U.S. support for anti-government protesters in Hong Kong, a potential sore point with China. Despite hints of progress towards an initial deal over the past few days, worries remained as some reports suggested Beijing and Washington were unable to agree on terms of tariff rollbacks. Given that Trump ruled out a complete tariff rollback, his threat to end the truce without a deal is real, starting with the tariffs due on Dec. 15, according to a note by DBS Group Research. "Trump will also need to decide by Dec. 2 whether to sign or veto the Hong Kong Human Rights and Democracy Act that has bipartisan support," DBS Group added. Philippine shares jumped 1.1%, bouncing back from a near seven-week closing low hit on Tuesday. Conglomerates Ayala Land and DMCI Holdings rose 3.6% and 4.7%, respectively. Thai shares inched higher, lifted by energy stocks on overnight gains in crude oil prices. PTT Exploration and Production Pcl advanced 2%. On Tuesday, the government rolled out stimulus measures to inject more than 100 billion baht ($3.31 billion) to boost the lagging economy. Indonesian stocks ticked up after four straight sessions of falls, with index heavyweight Telekomunikasi Indonesia adding 1.6%. Malaysian equities rose, with power utility Tenaga Nasional gaining 1%. Vietnam shares climbed 0.5%, while Singapore stocks were little changed. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0337 GMT Change on the day Market Current Previous close Pct Move Singapore 3206.87 3207.85 -0.03 Bangkok 1611.22 1609.38 0.11 Manila 7793.26 7707.8 1.11 Jakarta 6046.914 6026.188 0.34 Kuala Lumpur 1587.03 1583.87 0.20 Ho Chi Minh 981.88 976.79 0.52 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3206.87 3068.76 4.50 Bangkok 1611.22 1563.88 3.03 Manila 7793.26 7,466.02 4.38 Jakarta 6046.914 6,194.50 -2.38 Kuala Lumpur 1587.03 1690.58 -6.13 Ho Chi Minh 981.88 892.54 10.01 ($1 = 30.1900 baht) (Reporting by Arundhati Dutta; Editing by Subhranshu Sahu)
