SE Asia Stocks-Most rise after report of tentative Sino-U.S. trade truce

By Shreya Mariam Job

* Singapore snaps three-day losing streak * Vietnam falls near 2% * Thai hits near 9-month closing high By Shreya Mariam Job June 27 (Reuters) - Most Southeast Asian stock markets rose on Thursday, with Singapore leading gains, boosted by news of a tentative trade truce between the United States and China ahead of a key meeting between the leaders of the two economies this week. Details of the agreement, which would halt the next round of U.S. tariffs on an additional $300 billion of Chinese goods, are being laid out in press releases and will be out as coordinated press releases and not a joint statement, the South China Morning post said citing sources. Singapore's benchmark gained the most in the region, to hit a near two-month closing high. It rose as much as 1% during the day before ending 0.8% higher. Industrials and financials stocks boosted the rally on the index with DBS Group Holdings Ltd, rising 1.4% and Jardine Matheson Holdings gaining 1.5%. The city-state has been hit the worst by the damaging effects of the drawn-out Sino-U.S. trade war, especially since negotiations faltered in May. With a high dependency on China, the trade reliant economy would benefit by a trade truce. The Indonesian benchmark gained 0.7% with telecom and financial stocks supporting the index. Telekomunikasi Indonesia and Bank Central Asia Tbk Pt recouped losses from the previous session with a 2.8% and 1.2% rise, respectively. The Thai index gained as much as 0.8% to a near nine-month high during the session before closing 0.6% higher, buoyed by telecom and energy stocks. Advanced Info Service PCL and PTT Exploration and Production PCL added 3.9% and 1.5%, respectively. Philippine stocks rose 0.6% with industrials contributing most of the gains. SM Investments rose 2.6%, while International Container Terminal Services Inc rose 1.7%. Meanwhile, Vietnam stocks dropped 1.7% to their lowest close since Feb. 12, with utilities and real estate stocks dragging the index. Petrovietnam Gas JSC slumped 6.4%, while Vingroup JSC dipped 1.7%. Vietnam has emerged as one of the largest beneficiaries of the trade war between Beijing and Washington, as some businesses are shifting their supply chains away from China in order to avoid tariffs. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3328.6 3301.25 0.83 Bangkok 1731.64 1722.21 0.55 Manila 8057.64 8013.57 0.55 Jakarta 6352.71 6310.489 0.67 Kuala Lumpur 1672.7 1674.49 -0.11 Ho Chi Minh 943.11 959.13 -1.67 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3328.6 3068.76 8.47 Bangkok 1731.64 1563.88 10.73 Manila 8057.64 7,466.02 7.92 Jakarta 6352.71 6,194.50 2.55 Kuala Lumpur 1672.7 1690.58 -1.06 Ho Chi Minh 943.11 892.54 5.67 (Reporting by Shreya Mariam Job; Editing by Rashmi Aich)