SE Asia Stocks-Most rise on hopes of thaw in Chinese-U.S. trade tensions
* Singapore posts third straight gain * Indonesia rises to near 1-1/2 month high * Vietnam sole index in the red By Shreya Mariam Job Sept 11 (Reuters) - Southeast Asian stock markets rose on Wednesday as China's announcement of exemptions on some U.S. products from duties buoyed hopes of a thaw in a trade war that has bruised global markets. China announced exemptions for 16 types of U.S. products from additional retaliatory duties, as trade negotiators from the two countries prepare to meet this month to try to de-escalate their protracted tariff row. Singapore stocks surged 1.6% posting its third straight gain supported by financials and real estate stocks. Real estate stocks got a boost from the Housing & Development Board (HDB) announcement https://www.hdb.gov.sg/cs/infoweb/press-release/more-affordable-and-accessible-homes-for-singaporeans of enhanced Central Provident Fund (CPF) housing grant for more affordable and accessible homes. "The higher CPF grant and income ceiling will improve the HDB resale and upgraders market. This is supportive for the private residential mass market," said Paul Chew, head of research at Phillip Securities Research. Shares of Hongkong Land Holdings Ltd and City Developments Ltd gained 3.7% and 2.4%, respectively. "Any revival of property transaction volumes will be supportive of mortgage loans which have been contracting in Singapore," he added. Shares of top lenders DBS Group Holdings and United Overseas Bank Ltd rose 1.4% and 2.3%, respectively. Malaysian stocks gained 0.4% after trading in a tight range during the day, as government data showed the industrial production index rising at its slowest in five years in July, boosting hopes of monetary easing. Malaysia's central bank is expected to keep its benchmark interest rate unchanged at a policy review on Thursday, a Reuters poll found, as it keeps room for potential easing later should global growth fall sharply. Indonesian stocks gained 0.7% closing at its highest level since July 31, buoyed by financial and consumer stocks. Astra International Tbk Pt rose 3.8% to a more than one-month closing high. Shares of Bank central Asia Tbk Pt gained 0.7%. Philippine stocks gained 0.5% on the back of real estate and utility stocks. Ayala Land Inc gained 2%, while Aboitiz Power Corp surged 2.4%. Financial and material stocks drove the Thai benchmark index 0.5% higher. Vietnam stocks bucked the trend, easing marginally. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3204.52 3155.71 1.55 Bangkok 1674.03 1665.93 0.49 Manila 7967.9 7929.48 0.48 Jakarta 6381.954 6336.673 0.71 Kuala Lumpur 1602.3 1595.85 0.40 Ho Chi Minh 969.31 970.26 -0.10 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3204.52 3068.76 4.42 Bangkok 1674.03 1563.88 7.04 Manila 7967.9 7,466.02 6.72 Jakarta 6381.954 6,194.50 3.03 Kuala Lumpur 1602.3 1690.58 -5.22 Ho Chi Minh 969.31 892.54 8.60 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Edmund Blair)
