* Financial and resources help Malaysia rise
* Banking sector helps Indonesia gain
By Soumyajit Saha
Aug 14 (Reuters) - Southeast Asian stock markets mirrored a
global stock rally on Wednesday, boosted by Washington's
decision to delay tariffs on some Chinese goods, with Thailand
leading gains.
About half of the $300 billion worth of Chinese goods slated
to be slapped with 10% tariffs on Sept. 1 are now exempted,
including tariffs on products like clothing and footwear that
will now kick in on Dec. 15. The move soothed nerves after fears of an escalation were
inflamed by Trump on Friday when he said no trade deal with
China was to be expected in the near future. The market cheer would be "fairly muted", Robert Carnell,
chief economist and head of research, Asia-Pacific at ING Group
said in a note to clients.
"It's a stay of execution, not a pardon. And markets remain
nervous," the note added.
China's Ministry of Commerce said that Vice Premier Liu He
had conducted a phone call with senior U.S. officials on Tuesday
evening, further uplifting the market's mood. Thai shares .SETI rose 1% to lead gains in the region,
helped by financial and industrial stocks.
Real estate company Central Pattana PCL CPN.BK rose 3%,
while Airports of Thailand AOT.BK gained 1.9%.
Malaysian shares .KLSE advanced, supported by gains in
financial and resources stocks.
Chemicals producer Petronas Chemicals Group PCGB.KL rose
1%, while lender CIMB Group Holdings CIMB.KL gained 1%.
The banking sector pushed up Indonesian stocks .JKSE , with
Bank Rakyat Indonesia (Persero) BBRI.JK and Bank Mandiri
(Persero) BMRI.JK gaining 1.2% and 2%, respectively.
Singapore shares .STI were slightly up on a rally in
financials, while Philippine shares .PSI traded flat.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0418 GMT
STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3153.73 3146.73 0.22
Bangkok 1639.55 1620.23 1.19
Manila 7789.78 7788.45 0.02
Jakarta 6250.72 6210.962 0.64
Kuala Lumpur 1601.21 1592.88 0.52
Ho Chi Minh 971.8 966.83 0.51
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3153.73 3068.76 2.77
Bangkok 1639.55 1563.88 4.84
Manila 7789.78 7,466.02 4.34
Jakarta 6250.72 6,194.50 0.91
Kuala Lumpur 1601.21 1690.58 -5.29
Ho Chi Minh 971.8 892.54 8.88