* China, U.S. set for second day of high-level trade talks
* World Bank cuts growth forecast for Philippines
* Singapore set to close 0.8% higher on-week
By Soumyajit Saha
Oct 11 (Reuters) - Southeast Asian stock markets opened
higher on Friday, with Indonesia leading the gains, as revived
optimism over the ongoing Sino-U.S. trade talks boosted investor
sentiment.
Market sentiment turned positive after a first day of trade
talks between top U.S. and Chinese negotiators that Trump
characterised as "very, very good."
Chances of reaching "early harvest" agreements on issues
such as currencies and copyright protections were higher, a U.S.
Chamber of Commerce official said, while U.S. President Donald
Trump said senior U.S. delegates had "very, very good
negotiations with China". "All commentaries coming from the first day of talks seemed
to be helping the markets in the region, given this is something
everyone was waiting for," said Joel Ng, an analyst with KGI
Securities.
Banking and resource sectors lifted the Indonesian index
.JKSE to its highest in more than two weeks.
Bank Rakyat Indonesia (Persero) BBRI.JK gained 0.8%, while
petrochemicals company Barito Pacific BRPT.JK jumped 4%.
An index of Indonesia's 45 most liquid stocks .JKLQ45 rose
0.8%.
Philippine shares .PSI hit a two-week high, propped up by
gains in banking and real-estate sectors, and were set to end
1.6% firmer for the week.
Citing pressure from the U.S.-China trade war, the World
Bank on Thursday cut its forecasts for economic growth in the
Philippines for 2019 and the next two years.
Singapore stocks .STI were poised to mark a weekly gain of
0.8%, with index heavyweight United Overseas Bank UOBH.SI
rising 1.4%.
Malaysian shares .KLSE edged up after data on Friday
showed that the country's industrial production rose 1.9% in
August from a year earlier. The rise was a touch below the 2%
expansion forecast in a Reuters poll, while July's factory
output rose 1.2% on year. Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS AS AT 0420 GMT
STOCK MARKETS
Change on the day
Market Current Previous Pct Move
close
Singapore 3110.62 3089.48 0.68
Bangkok 1616.5 1607.5 0.56
Manila 7825.09 7765.03 0.77
Jakarta 6085.168 6023.641 1.02
Kuala Lumpur 1555.49 1551.87 0.23
Ho Chi Minh 988.14 987.38 0.08
Change so far in
2019
Market Current End 2018 Pct Move
Singapore 3110.62 3068.76 1.36
Bangkok 1616.5 1563.88 3.36
Manila 7825.09 7,466.02 4.81
Jakarta 6085.168 6,194.50 -1.76
Kuala Lumpur 1555.49 1690.58 -7.99
Ho Chi Minh 988.14 892.54 10.71