SE Asia Stocks-Most rise on fresh trade-talk hopes; Philippines leads gains

By Shreya Mariam Job

* Singapore set to post 1st weekly gain in 7 * Higher oil prices boost Thai energy stocks * Vietnam only market in the red By Shreya Mariam Job Sept 6 (Reuters) - Most Southeast Asian stock markets tracked global peers higher on Friday, with Philippines leading gains, buoyed by optimism ahead of a fresh round of trade talks between United States and China. The fresh round of talks would be the first in-person, high-level discussions since a failed U.S.-China trade meeting at the end of July prompted U.S. President Donald Trump to proceed with fresh tariffs on virtually all remaining Chinese imports so far untouched by the trade war. "After rounds of tariff escalation, market has pared back expectation accordingly where resumption of talks itself may be good enough to spur risk appetite," a Mizuho Bank note said. The trade optimism has sent MSCI's broadest index of Asia-Pacific shares outside Japan up 0.2%, putting it on track for its best week since mid-June, with the positive sentiment spilling into regional markets as well. Philippine's benchmark index traded 0.6% higher to lead gains in the region, boosted by real estate and industrial stocks. But it was on track to post a weekly loss. Shares of Robinsons Land Corp and International Container Terminal Services Inc gained 3.9% and 2.1%, respectively. The Singapore index rose 0.5% and is set to post a near 2% weekly gain to snap six weeks of losses. Financial stocks supported gains on the benchmark index with shares of the city state's biggest lender DBS Group Holdings Ltd rising 0.6%, while its smaller banking peer Oversea-Chinese Banking Corp rose 0.7%. Thai stocks also climbed higher with energy stocks PTT PCL and PTT Exploration and Production PCL gained 0.6% and 2.1%. The rise in energy firms was brought on by higher oil prices, with crude benchmarks poised for multi-week gains amid a sharp drawdown in U.S. crude inventories. Meanwhile, the country plans a "relocation package" of incentives to attract foreign companies looking to move production from China, seeking to compete with Vietnam to woo manufacturers looking to steer clear of the Sino-U.S. trade war. Financial and energy stocks drove the Indonesian benchmark 0.3% higher with Bank Mandiri Tbk Pt rising 1.8% and coal miner Adaro Energy Tbk Pt rising 5.2% to its highest since July 18. The Malaysian index also inched marginally higher. Bucking the trend, Vietnam stocks edged slightly lower with real estate and financial stocks weighing. The country has been the top destination for firms that were relocating from China to avoid the backlash of the trade war. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS As at 0343 GMT Change on the day Market Current Previous close Pct Move Singapore 3162.99 3147.06 0.51 Bangkok 1676.6 1669.79 0.41 Manila 7946.6 7898.19 0.61 Jakarta 6326.041 6306.803 0.31 Kuala Lumpur 1603.32 1599.75 0.22 Ho Chi Minh 976 976.79 -0.08 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3162.99 3068.76 3.07 Bangkok 1676.6 1563.88 7.21 Manila 7946.6 7,466.02 6.44 Jakarta 6326.041 6,194.50 2.12 Kuala Lumpur 1603.32 1690.58 -5.16 Ho Chi Minh 976 892.54 9.35 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Rashmi Aich)