(Corrects milestone in first bullet and paragraph 6 to note
China exports rose for first time since July 2019, not March
2019)
* China exports rise in Dec for first time since July
* Indonesia extends gains, hits near 2-week high
* Thai stocks set for fourth straight session of gains
By Sameer Manekar
Jan 14 (Reuters) - Most Southeast Asian stock markets rose
on Tuesday, tracking overnight gains on Wall Street, as risk
appetite was whetted by optimism about the imminent signing of a
preliminary U.S.-China trade agreement.
Major U.S. indexes .SPX .IXIC closed at record highs on
Monday, while MSCI's world shares gauge .MIWD00000PUS scaled
an all-time peak on Tuesday, boosted by the trade deal optimism.
.N MKTS/GLOB
Giving more details about the trade deal document, U.S.
Trade Representative Robert Lighthizer said on Monday the
language translation was almost completed and would be made
public on Wednesday, just prior to the signing ceremony.
Aiding sentiment further, the U.S. Treasury Department on
Monday dropped China's designation as a currency manipulator,
seen widely as a symbol of goodwill for Chinese officials.
"Asia markets are expected to sing to the cheer on Wall
Street with the alleviation of U.S.-China trade tensions
carrying this week," IG Asia said in a note.
Meanwhile, customs data showed exports from the region's
largest trading partner, China, increased 7.6% in December from
a year earlier, their first rise since July 2019, while imports
were up 16.3%. In Southeast Asia, trade-sensitive Singapore shares .STI
advanced as much 0.3%, with DBS Group Holdings DBSM.SI and
Jardine Matheson Holdings JARD.SI rising 0.6% and 1.4%,
respectively.
Indonesian shares .JKSE hit a near two-week high and were
on track to post their fourth consecutive session of gains.
Financials and consumer firms climbed, with Bank Central
Asia BBCA.JK and Unilever Indonesia UNVR.JK adding 0.6% and
0.7%, respectively.
Thai stocks .SETI advanced for a fourth consecutive
session, driven by consumer and industrial firms.
"Even though much of the trade optimism appears to have
already been baked in, global markets still await the official
signing of the U.S.-China Phase 1 trade accord and concrete
details of the trade agreement," PhillipCapital said in a note.
Philippine shares .PSI fell as markets resumed trade
after being suspended on Monday as a volcano belched clouds of
ash across Manila and seismologists warned an eruption could
happen at any time. Heavyweights SM Investments Corp SM.PS and SM Prime
Holdings SMPH.PS shed 1.3% and 3.3%, respectively.
Malaysian shares .KLSE shed as much as 0.5%, dragged by
financials and consumer firms.
Sime Darby Plantation SIPL.KL lost 1.3%, while Kuala
Lumpur Kepong KLKK.KL was down 0.5%. POI/
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS AS AT 0400 GMT
Market Current Previous close Pct Move
Singapore 3261.23 3251.07 0.31
Bangkok 1591.02 1586.16 0.31
Manila 7733.26 7776.77 -0.56
Jakarta 6312.197 6296.567 0.25
Kuala Lumpur 1576.88 1584.73 -0.50
Ho Chi Minh 967.2 965.84 0.14
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 3261.23 3222.83 1.19
Bangkok 1591.02 1579.84 0.71
Manila 7733.26 7,815.26 -1.05
Jakarta 6312.197 6,299.54 0.20
Kuala Lumpur 1576.88 1588.76 -0.75
Ho Chi Minh 967.2 960.99 0.65