SE Asia Stocks-Singapore recovers on Keppel, Sembcorp

By Soumyajit Saha

* Consumer, banking stocks weigh on Indonesia * Thailand advances on banking stocks By Soumyajit Saha Oct 7 (Reuters) - Singapore shares snapped three sessions of losses on Monday, helped by Keppel Corp and Sembcorp Industries as the two index heavyweights reached settlements with indebted Brazilian firm Sete Brasil, while consumer and banking stocks sent Indonesia lower. Keppel Corp and Sembcorp Industries said they struck settlements with Sete Brasil over long-standing contracts to build drillships and rigs. Singapore's FTSE Straits Times Index closed 0.7% higher, after shedding 2.2% in the previous three sessions. Keppel Corp rose 1.7%, while Sembcorp Industries gained 1%. Meanwhile, investors waited to see if the United States and China could find a way at upcoming trade talks to end their more than year-long tariff dispute. Earlier in the day, Bloomberg reported that Chinese officials had narrowed down the list of topics they were willing to negotiate on in talks, adding to market uncertainties. Indonesian shares dropped over 1%, dragged mainly by the consumer and banking sectors. Consumer goods maker Unilever Indonesia lost 3%, while lender Bank Rakyat Indonesia (Persero) dropped 1.3%. A lower-than-expected consumer confidence in September contributed to the downturn in the market, said Hariyanto Wijaya, head of research at Mirae Assets Sekuritas. Indonesia's consumer confidence index was at 121.8 in September, against 123.1 in August, according to a central bank survey out on Friday. Thai shares advanced in thin trade, with banking stocks leading the gains. Lender Kasikornbank rose 2%. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on the day Market Current Previous Pct Move close Singapore 3099.48 3078.36 0.69 Bangkok 1613.71 1605.96 0.48 Manila 7683.22 7704.6 -0.28 Jakarta 6000.582 6061.252 -1.00 Kuala Lumpur 1559 1557.67 0.09 Ho Chi Minh 983.09 987.59 -0.46 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3099.48 3068.76 1.00 Bangkok 1613.71 1563.88 3.19 Manila 7683.22 7,466.02 2.91 Jakarta 6000.582 6,194.50 -3.13 Kuala Lumpur 1559 1690.58 -7.78 Ho Chi Minh 983.09 892.54 10.15 (Reporting by Soumyajit Saha in Bengaluru; Editing by Subhranshu Sahu)