SE Asia Stocks-Edge higher on Trump’s upbeat comments on trade

1 BUSINESS

Business News - Opportunities - Reviews

 

 
 * Thailand on pace to snap seven sessions of losses * Indonesia hits near 1-mth high * Consumer, utility stocks help Malaysia By Soumyajit Saha Dec 6 (Reuters) - Most Southeast Asian stock markets ticked
higher on Friday, as risk sentiment was lifted by positive
comments from Washington on the ongoing trade talks with
Beijing. U.S. President Donald Trump said on Thursday the talks were "moving right along", even as the two sides remained at
loggerheads over rolling back existing tariffs and other issues
such as the protests in Hong Kong. "U.S.-China trade talks are complex; fraught with a
multitude of quantitative (e.g. magnitude of farm purchases) and
qualitative (e.g. IP and forced transfer of technology) issues.
But at this stage, tariff rollback threatens to be the
deal-breaker," Mizuho Bank said in a note to clients. Thai stocks were set to snap seven sessions of
losses, helped by gains in the industrial and energy sectors,
but were still on track to lose over 1% for the week. Gas explorer PTT PCL and airport operator Airports
of Thailand both gained more than 1%. Investors seemed to be bargain hunting among Thai stocks, as
well as engaging in some catch-up trade as markets opened after
a public holiday, said Teerada Charnyingyong, strategist at
Phillip Capital Thailand. Indonesian shares touched a near 1-month high and
were set to gain over 2% for the week. The index was lifted by consumer heavyweights like Hanjaya
Mandala Sampoerna and Indofood CBP Sukses Makmur
, which rose 3% and 0.5%, respectively. Consumer and utility stocks lifted the Malaysia's benchmark
index. Agribusiness Sime Darby Plantations advanced 2%,
while electricity distributor Tenaga Nasional rose
0.8%. Meanwhile, Singapore shares traded flat as gains in
industrials were offset by losses in the consumer sector. The
index was on track to lose 0.7% for the week. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0410 GMT STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3173.03 3174.19 -0.04 Bangkok 1572.37 1565.45 0.44 Manila 7799.5 7790.91 0.11 Jakarta 6163.441 6152.117 0.18 Kuala Lumpur 1567.2 1563.58 0.23 Ho Chi Minh 964.89 963.27 0.17 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3173.03 3068.76 3.40 Bangkok 1572.37 1563.88 0.54 Manila 7799.5 7,466.02 4.47 Jakarta 6163.441 6,194.50 -0.50 Kuala Lumpur 1567.2 1690.58 -7.30 Ho Chi Minh 964.89 892.54 8.11 (Reporting by Soumyajit Saha in Bengaluru; Editing by Sriraj
Kalluvila) 

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Leave a Reply