* Philippines at near 4-week high
* Singapore hits over a two-week high
* Indonesia posts fourth straight day of gains
By Sameer Manekar
Oct 16 (Reuters) - Southeast Asian stock markets ended
higher on Wednesday, in line with Asian peers, as strong U.S.
corporate earnings helped soothe concerns about a global
slowdown, while a potential breakthrough in Brexit deal
negotiations also aided sentiment.
Major U.S. banks such as JPMorgan, Citigroup, and Wells
Fargo posted strong results on Tuesday.
Meanwhile, officials involved in Brexit deal negotiations
said that differences over the terms of the split had narrowed
significantly.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS rose 0.4%. MKTS/GLOB
"Markets are being driven by pent-up demand after several
weeks of jockeying between U.S. and China prior to last week's
talks," Liu Jinshu, director of research at NRA Capital said.
"In the longer term, existing tariffs will continue to drag
on growth and cloud outlook."
Leading gains in the region, Philippine stocks .PSI rose
1% to its highest level in nearly four weeks.
Real estate and financial stocks were among the top
performers, with SM Prime Holdings SMPH.PS rising 1.4%, while
Bank of the Philippine Islands BPI.PS advanced 1% on the back
of strong third-quarter results. Singapore stocks .STI hit over a two-week high due to
gains in industrials and financials firms.
Industrial conglomerate Jardine Matheson Holdings JARD.SI
and airport operator SATS Ltd SATS.SI strengthened 2.5% and
2.9%, respectively.
Investors will now turn to the release of non-oil exports
data for Singapore on Thursday. The city-state, like other
trade-reliant Asian economies, has been hit hard by a prolonged
U.S.-China tariff dispute and a downturn in the electronics
sector.
Meanwhile, the Thai benchmark index .SETI posted a third
straight day of gains, boosted by utilities and industrials.
Electricity producer Global Power Synergy GPSC.BK rose
4.3%. Airports of Thailand AOT.BK climbed 2% to its highest in
over 21 months.
Malaysian stocks .KLSE advanced 0.6%, buoyed by financial
and telecommunication sectors, with Hong Leong Bank Bhd
HLBB.KL and Digi.Com Bhd DSOM.KL adding 1.8% and 1.7%,
respectively.
Indonesian stocks .JKSE ended 0.2% higher after swinging
between positive and negative territory, while Vietnam stocks
.VNI edged higher.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3134.71 3116.17 0.59
Bangkok 1634.46 1627.01 0.46
Manila 7915.3 7840.31 0.96
Jakarta 6169.592 6158.166 0.19
Kuala Lumpur 1574.9 1566.23 0.55
Ho Chi Minh 994.46 993.05 0.14
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3134.71 3068.76 2.15
Bangkok 1634.46 1563.88 4.51
Manila 7915.3 7,466.02 6.02
Jakarta 6169.592 6,194.50 -0.40
Kuala Lumpur 1574.9 1690.58 -6.84
Ho Chi Minh 994.46 892.54 11.42