* EU to determine whether to put deal before EU leaders'
summit
* Indonesia set to snap three sessions of gains
* Singaporean banking stocks climb in line with U.S. lenders
By Sameer Manekar
Oct 16 (Reuters) - Most Southeast Asian stock markets rose
on Wednesday, tracking broader Asia, as hopes of a deal to avoid
a disorderly British exit from the European Union and upbeat
U.S. corporate numbers lifted sentiment, with Singapore trading
at a two-week high.
Officials and diplomats involved in negotiations over the
acrimonious divorce between the world's fifth-largest economy
and its biggest trading bloc said that differences over the
terms of the split had narrowed significantly. Meanwhile, stronger-than-expected earnings from major U.S.
lenders JPMorgan JPM.N , Citigroup C.N and Wells Fargo
WFC.N boosted risk appetite, even as the International
Monetary Fund downgraded its 2019 global growth forecast for a
fifth time due to trade tensions.
Financials and industrial sectors underpinned gains in
Singapore's benchmark Straits Times index .STI , with top
lenders United Overseas Bank UOBH.SI and DBS Group Holdings
DBSM.SI climbing 0.8% and 0.2%, respectively.
"Banks in the United States have surprised positively ...
the positive impact is spilling over to the Singapore banks,"
Linus Loo, head of research at Lim & Tan Securities said.
The Philippine index .PSI gathered steam after it posted
on Tuesday its worst session in nearly a week.
Real-estate stocks buoyed the benchmark Manila index, which
is leading the gains in the region, with Ayala Land ALI.PS and
SM Prime Holdings SMPH.PS adding 2.1% and 2%, respectively.
Thai stocks .SETI were on track for a third straight
session of gains, helped by industrial and financial sectoral
boost.
The Indonesian index .JKSE shed early gains, and is on
track to snap a three-session winning streak, helped by telecom
and consumer sectors.
Shares of Telekomunikasi Indonesia TLKM.JK slipped 0.5%,
while Astra International ASII.JK dropped 0.8%.
Telecom and utility sectors lifted Malaysia's benchmark
index .KLSE to its highest in two weeks.
Electric utility firm Tenaga Nasional TENA.KL rose 0.4%,
while mobile communication service provider Digi.Com Bhd
DSOM.KL advanced 1.3%, marking its best session in nearly five
weeks.
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SOUTHEAST ASIAN STOCK MARKETS As at 0432 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3134.8 3116.17 0.60
Bangkok 1632.25 1627.01 0.32
Manila 7896.06 7840.31 0.71
Jakarta 6147.025 6158.166 -0.18
Kuala Lumpur 1568.93 1566.23 0.17
Ho Chi Minh 996.02 993.05 0.30
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3134.8 3068.76 2.15
Bangkok 1632.25 1563.88 4.37
Manila 7896.06 7,466.02 5.76
Jakarta 6147.025 6,194.50 -0.77
Kuala Lumpur 1568.93 1690.58 -7.20
Ho Chi Minh 996.02 892.54 11.59