Wednesday , December 2 2020

SE Asia Shares-Climbing Hope for Chinese-American Trade Spat Tough



                * Philippines cenbank raises borrowing costs by 175 percent
point
* Indonesia increased by 1.6 percent, to close the week higher
* Malaysia's economy grew at an annual 4.4 percent rate
Q3

By Aman Swami
November 16 (Reuters) - Philippine shares jumped on Friday after
The central bank raised its reference rate for the fifth
consecutively, while Indonesian stocks were extended, with
hoping for thaw in Chinese-American trade friction increase risk
feelings in Southeast Asia.
Asian stock markets were supported in the hope of relief in
ongoing Chinese and US trade relations, although there was dueling
reports on the possibilities for a real deal.
The back and forth exchange of trade duties and threats
between two of the world's leading economic powers stoked
investors to stay away from more risky assets in the emerging
markets this year, in the face of major concerns about
global growth.
MSCI's broadest Asia Pacific Asia Outside Japan
was up 0.26 percent in early trading.
Philippine stocks rose as much as 1.9 percent to
their highest in over a week, driven by profits in industry and
financial sectors. The index was set to close faster this week.
The Philippine Central Bank raised its reference rate
score for the fifth straight time on Thursday in an attempt to deal with
increased inflation.
The country's largest conglomerate SM Investments Corp.
climbed as much as 3.2 percent, while shares in BDO
Unibank Inc. jumped to 4.2 percent.
Profit in finance and telecom sectors increased
Indonesian reference index, which was ready to end
higher for the week.
Bank Central Asia Tbk PT and Telekomunikasi
Indonesia (Persero) Tbk increased as much as 2.1 percent
respectively 4.9 percent.
Singapore shares were about to win for a second
straight session, with conglomerate Sembcorp Industries Ltd
and Jardine Matheson Holdings Ltd is
best winner.
Malaysian stocks set themselves to extend their winning
stretch into a third session, with Sime Darby Bhd, the
the world's largest palm oil planter by land size and mobile phone
operator Axiata Group Bhd gets the most out.
Malaysia's economy grew at an annual 4.4 percent rate
July-September, the fourth straight quarter declining growth as
It cuts with weak external demand, data showed on Friday.

Thai stocks lined higher, helped stabilize the oil
prices due to expected cuts from organization of
Petroleum Exporting Countries (OPEC), although the US post
production-controlled profits.

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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Previous Close Pct Move
Singapore 3082.22 3054.53 0.91
Bangkok 1642.11 1638.83 0.20
Manila 7081.38 6952.59 1.85
Jakarta 6049.333 5955.736 1.57
Kuala Lumpur 1706.95 1694.21 0.75
Ho Chi Minh 898.06 897.15 0.10

Change in years
Market Current End 2017 Pc Moving
Singapore 3082.22 3402.92 -9.42
Bangkok 1642.11 1753.71 -6.36
Manila 7081.38 8558.42 -17.26
Jakarta 6049.333 6355.654 -4.82
Kuala Lumpur 1706.95 1796.81 -5.00
Ho Chi Minh 898.06 984.24 -8.76

(Reporting by Aman Swami, Editing Sherry Jacob-Phillips)
  
Our standards:Thomson Reuters Trust Principles.

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