* Vietnam, Singapore lead gains, both rise over 1.5%
* Thailand's June headline inflation falls below c.bank
target
* Vietnam's June manufacturing activity rises, new orders
grow
By Rashmi Ashok
July 1 (Reuters) - Southeast Asian stock markets ended
firmer on Monday, after weeks of volatile trade, as an agreement
by the United States and China to restart trade talks after
President Donald Trump offered concessions revived risk
appetite.
Trump said on Saturday talks with China were "right back on
track", putting new tariffs on hold, while Beijing agreed to
make unspecified new purchases of U.S. farm products and restart
negotiations. The comments on the sidelines of the G20 summit in Japan
were seen as better than expected, boosting regional stocks
despite a barrage of largely subdued data.
"We didn't have high expectations for the G20 meetings. What
we got was realistically about as good as we thought likely,"
ING said in a note.
Singapore stocks .STI rebounded from previous session's
decline to end 1.5% firmer. Lenders DBS Group Holdings DBSM.SI
and United Overseas Bank UOBH.SI added 2.5% and 1.8%,
respectively.
Indonesian stocks .JKSE ended at their highest since April
30, boosted by telco giant Telekomunikasi Indonesia Tbk
TLKM.JK , which closed up 1.9%.
The country's annual inflation rate slowed in June from a
month earlier, but was slightly faster than expected, data
showed on Monday. Malaysian stocks .KLSE ended higher despite data
reflecting the country's lean June manufacturing activity, with
new orders contracting for a ninth straight month as demand
conditions softened.
Vietnam index .VNI was the top gainer in the region,
following data that showed the nation's June manufacturing
activity climbed from last month. The bourse was boosted by upbeat performance in financials
and real-estate counters, with conglomerate Vingroup JSC
VIC.HM closing 1.3% higher.
Thai stocks .SETI surged as a jump in oil prices lent
support to the energy-heavy index. Energy company PTT PCL
PTT.BK added 1%.
Thailand's largest lender by assets - Siam Commercial Bank
SCB.BK - said it would sell its life insurance business to
Hong Kong-based insurer FWD Group for 92.7 billion baht ($3
billion) in the biggest insurance M&A deal in Southeast Asia,
deepening a rapid Asian expansion by the Hong Kong-based group.
The lender's stock traded 1.1% higher at close.
Meanwhile, the country's June headline inflation fell from
the previous month, and was below the central bank's target
range of 1%-4% for the first time in four months. Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3372.26 3321.61 1.52
Bangkok 1740.91 1730.34 0.61
Manila 8043.71 7999.71 0.55
Jakarta 6379.688 6358.629 0.33
Kuala Lumpur 1683.62 1672.13 0.69
Ho Chi Minh 965.61 949.94 1.65
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3372.26 3068.76 9.89
Bangkok 1740.91 1563.88 11.32
Manila 8043.71 7,466.02 7.74
Jakarta 6379.688 6,194.50 2.99
Kuala Lumpur 1683.62 1690.58 -0.41
Ho Chi Minh 965.61 892.54 8.19