SE Asia Stocks-Most rise on U.S.-China trade deal hopes; Singapore leads gains
* Singapore marks biggest gain in nearly 7 weeks * Trump: "ahead of schedule" on China trade deal * Thai Sept. manufacturing production index -4.7% By Sameer Manekar Oct 29 (Reuters) - Most Southeast Asian markets rose on Tuesday, with Singapore gaining the most, as progress in Sino-U.S. trade talks raised hopes of a de-escalation in their long drawn dispute. U.S. President Donald Trump on Monday said he expected to sign a significant part of a trade deal with China ahead of schedule, which follow remarks late last week from both Chinese and U.S. officials saying the two sides were "close to finalising" a deal. Adding to the optimism, the U.S. Trade Representative is also considering extending tariff suspensions on $34 billion in Chinese goods set to expire late in December, the agency said on Monday. Investors are also waiting for the outcome of the U.S. Federal Reserve's policy meeting on Wednesday. The central bank is seen reducing rates by 25 basis points as poor data from the two countries has led to worries of a global economic slowdown. Resuming trade after a public holiday, Singapore shares touched a near three-month high and were set for the best session in nearly two months. "With positive sentiment from the U.S. trading session, the STI may attempt to stand above 3,200 points this week. Technology, real estates, financial and consumer sectors are set to lead the gain today," Margaret Yang Yan, market analyst at CMC Markets said in a note. Industrials were among the biggest gainers, with heavyweights Jardine Matheson Holdings and Jardine Strategic Holdings rising 2.5% and 1.7%, respectively. Thai stocks advanced 0.4%, shrugging off a worse-than-expected fall in the country's September manufacturing production index. Consumer firms were among the top gainers. Charoen Pokphand Foods PCL and retailer Home Product Center PCL rose 3.1% and 5.5%, respectively. Malaysian shares inched up 0.1%, helped by gains in the financial sector. Hong Leong Financial Group and RHB Bank were up 2% and 1.4%, respectively. Indonesia's benchmark index was marginally lower, while the Philippine bourse remained little changed. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0343 GMT Change on the day Market Current Previous close Pct Move Singapore 3207.67 3185.53 0.70 Bangkok 1603.25 1596.48 0.42 Manila 7947.68 7946.53 0.01 Jakarta 6262.456 6265.384 -0.05 Kuala Lumpur 1572.06 1570 0.13 Ho Chi Minh 998.29 996.48 0.18 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3207.67 3068.76 4.53 Bangkok 1603.25 1563.88 2.52 Manila 7947.68 7,466.02 6.45 Jakarta 6262.456 6,194.50 1.10 Kuala Lumpur 1572.06 1690.58 -7.01 Ho Chi Minh 998.29 892.54 11.85 (Reporting by Sameer Manekar in Bengaluru; editing by Uttaresh.V)
