SE Asia Stocks-Rise on China-US trade ceasefire
* Singapore stocks hit near two-month high
* Philippine stocks touch near 12-week top
By Shreya Mariam Job
Dec 3 (Reuters) - Southeast Asian stock markets rose on
Monday, in line with broader Asia, as a trade truce between the
United States and China boosted investor risk appetite.
China and the United States agreed to halt additional
tariffs in a deal that keeps their trade war from escalating as
the two sides try again to bridge their differences with fresh
talks aimed at reaching an agreement within 90 days.
"Risk appetite has returned this morning on the positive
Sino-US trade truce struck at the G20 Summit," Philip Wee, a FX
strategist, and Eugene Leow, a rates strategist, at DBS Bank Ltd
said in a note.
However, they added, "There should be no wishful thinking
that the truce would end the trade war between the world's two
largest economies."
Singapore shares rose 2.25 percent to their highest
since Oct. 8, while Philippine stocks climbed 2 percent
to a near 12-week peak.
Consumer cyclicals and technology stocks led the gains in
Singapore with Genting Singapore rising 6.2 percent
and Golden Agri-Resources firming 2 percent.
Industrial and real estate stocks led the gains in the
Philippines. SM Investments Corp rose 4.4 percent, while
Ayala Land gained 0.8 percent.
Indonesian shares rose 1.2 percent ahead of the
release inflation data later in the day.
A Reuters poll predicts November annual inflation at 3.15
percent, easing from October after Bank Indonesia raised
interest rates on Nov. 15 for the sixth time this year.
Telekomunikasi Indonesia (Persero) Tbk Perusahaan Perseroan
PT strengthened 1.6 percent, while Unilever Indonesia
Tbk PT rose 1.9 percent.
Thai shares gained 1.3 percent, helped by energy and
financial stocks.
Meanwhile, data showed the annual headline consumer price
index rose 0.9 percent in November, marginally falling short of
the 1 percent rise predicted in a Reuters poll.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS: As at 0315 GMT
Market Current Previous close Pct Move
Singapore 3185.71 3117.61 2.18
Bangkok 1663.1 1641.8 1.30
Manila 7516.17 7367.85 2.01
Jakarta 6128.83 6056.124 1.20
Kuala Lumpur 1693.76 1679.86 0.83
Ho Chi Minh 941.51 926.54 1.62
Change on year
Market Current End prev yr Pct Move
Singapore 3185.71 3402.92 -6.38
Bangkok 1663.1 1753.71 -5.17
Manila 7516.17 8,558.42 -12.18
Jakarta 6128.83 6,355.65 -3.57
Kuala Lumpur 1693.76 1796.81 -5.74
Ho Chi Minh 941.51 984.24 -4.34
(Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)