* Malaysia mostly flat, c.bank holds interest rate
* Indonesia Q3 GDP broadly in line with expectations
* Philippines surges in last-minute trade
By Sameer Manekar
Nov 5 (Reuters) - Southeast Asian stock markets closed
higher on Tuesday, with Philippines rising the most, as risk
appetite was boosted by a report that the United States was
planning to drop some tariffs on Chinese goods.
Global equities rose after the Financial Times reported that
the United States was considering rolling back levies on $112
billion of Chinese imports as a concession to a partial deal,
which could be signed this month, according to U.S. officials.
"If the U.S. does roll back existing tariffs, the positive
spillover will extend beyond financial markets, as such a move
would alleviate the downwards pressures on global trade
conditions as well," said Han Tan, market analyst at FXTM in a
note.
Meanwhile, the central bank of China cut interest rates on
its medium-term lending facility loans to support economic
growth and tackle any fallout from the country's trade dispute
with the United States. The Philippine bourse .PSI closed at its highest level in
more than three months, rising for a second consecutive session.
A bulk of the bourse's gains came from last minute buying into
heavyweight stocks.
The country's annual rate of inflation eased for a fifth
straight month in October and was within the central bank's
target for the month. Financials and consumer firms lifted the index, with Bank of
the Philippine Islands BPI.PS and SM Investments Corp SM.PS
rising 2.8% and 6.4%, respectively.
Indonesian shares .JKSE snapped their three-day streak of
losses, rising the most in over three weeks as financial and
consumer sectors rose.
Bank Mandiri (Persero) BMRI.JK and poultry feed producer
Charoen Pokphand Indonesia CPIN.JK were up 4.7% and 6.6%,
respectively.
The country's economy grew at its weakest pace in over two
years in the third quarter, signalling the possibility of
further stimulus measures. An index of the country's 45 most liquid stocks .JKLQ45
ended 2.4% higher.
Singapore's benchmark index .STI closed at its highest in
over three months, rising on the back of consumer and industrial
firms.
Industrial conglomerate Jardine Strategic Holdings JSH.SI
added 2.2%, while auto manufacturer Jardine Cycle & Carriage
JCYC.SI rose 1.8%.
Malaysia's benchmark index .KLSE ended slightly higher
after the central bank kept its benchmark interest rate
unchanged on Tuesday, as forecast by a Reuters poll.
Thai stocks .SETI closed at their two-week high, ahead of
a Bank of Thailand policy meeting on Wednesday.
The central bank is expected to stand pat on its benchmark
interest rate, according to a Reuters poll. Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3248.63 3236.4 0.38
Bangkok 1626.87 1622.25 0.28
Manila 8216.68 8059.65 1.95
Jakarta 6264.152 6180.344 1.36
Kuala Lumpur 1606.74 1603.56 0.20
Ho Chi Minh 1024.34 1022.43 0.19
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3248.63 3068.76 5.86
Bangkok 1626.87 1563.88 4.03
Manila 8216.68 7,466.02 10.05
Jakarta 6264.152 6,194.50 1.12
Kuala Lumpur 1606.74 1690.58 -4.96
Ho Chi Minh 1024.34 892.54 14.77