* China rises as trade talks set to kick off on Thursday
* Financial and industrial sectors lift Singapore stocks
* Thai cabinet approves larger 2020 budget
By Soumyajit Saha
Oct 8 (Reuters) - Most Southeast Asian stock markets rose on
Tuesday as markets in China, the region's biggest trading
partner, opened firmer after a week-long holiday and as traders
turned their focus to pivotal Sino-U.S. trade negotiations in
Washington later this week.
High-level talks between the United States and China are set
to kick off on Thursday, while deputy trade negotiators from
both countries launched a round of talks at the start of the
week, with markets looking for signs of a resolution.
"The general feeling in Chinese equity markets is quite
positive and that's a pretty convincing signal to other equity
markets in Asia," said Stephen Innes, Asia Pacific market
strategist, AxiTrader.
The Philippine index .PSI gained as much as 1% to its
highest in more than a week. Conglomerate SM Investments Corp
SM.PS rose 2.5%, while lender BDO Unibank BDO.PS climbed
1.2%.
Financial and industrial sectors lifted Singapore shares
.STI to their highest since Oct. 2, with United Overseas Bank
UOBH.SI gaining 1.4% and conglomerate Jardine Strategic
Holdings JSH.SI rising 1.5%.
Thai stocks .SETI extended gains for a second session
after a cabinet approved a budget of 3.2 trillion baht ($104.99
billion) for the 2020 fiscal year to bolster Southeast Asia's
second-largest economy, which was growing at its weakest pace in
nearly five years. The bourse was underpinned by banking and industrial
sectors, with lender Central Pattana PCL CPN.BK climbing 0.8%,
while Airports of Thailand AOT.BK rose 0.3%.
However, Malaysian shares .KLSE edged lower, dented by
heavy losses in healthcare and energy sectors.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 04:55 GMT
STOCK MARKETS
Change on the day
Market Current Previous Pct Move
close
Singapore 3117.53 3099.48 0.58
Bangkok 1618.88 1613.71 0.32
Manila 7754 7683.22 0.92
Jakarta 6023.281 6000.582 0.38
Kuala Lumpur 1558.3 1559 -0.04
Ho Chi Minh 982.85 983.09 -0.02
Change so far in
2019
Market Current End 2018 Pct Move
Singapore 3117.53 3068.76 1.59
Bangkok 1618.88 1563.88 3.52
Manila 7754 7,466.02 3.86
Jakarta 6023.281 6,194.50 -2.76
Kuala Lumpur 1558.3 1690.58 -7.82
Ho Chi Minh 982.85 892.54 10.12
($1 = 30.4800 baht)