* Singapore leads gains in region, rises 1%
* Malaysia July factory output below forecast
* Vietnam bucks trend to trade lower
By Shreya Mariam Job
Sept 11 (Reuters) - Most Southeast Asian stock markets edged
higher on Wednesday, with Singapore leading gains, as
expectations of a breakthrough in the Sino-U.S. trade dispute
and more fiscal stimulus measures by major central banks lifted
risk sentiment.
The South China Morning Post reported https://www.scmp.com/news/china/diplomacy/article/3026585/countdown-trade-war-talks-china-ready-sweeten-deal-buying
that China might agree to buy more American agricultural
products, hoping for a better deal with the United States.
However, a senior White House adviser tamped down
expectations on Tuesday for the next round of U.S.-China trade
talks, urging investors, businesses and the public to be patient
about resolving the trade dispute between the world's two
largest economies. Sentiment got a lift ahead of monetary policy decisions by
the European central bank on Thursday and the U.S. Federal
Reserve next week, with investors hoping for further easing amid
a slowdown in global growth.
Leading the region, Singapore stocks .STI extended gains
for a third session, underpinned by financial and real estate
shares. Hongkong Land Holdings HKLD.SI advanced 2.1%, while
DBS Group Holdings DBSM.SI hit its highest in more than a
month.
Real estate stocks got a boost after the Housing and
Development Board (HDB) of Singapore enhanced https://www.hdb.gov.sg/cs/infoweb/press-release/more-affordable-and-accessible-homes-for-singaporeans
the Central Provident Fund (CPF) housing grant to provide for
affordable and accessible homes.
"STI is up because news has been incrementally more
positive. The higher CPF grant and income ceiling will improve
the HDB resale and upgraders market. This is supportive for the
private residential mass market," Paul Chew, head of research at
Phillip Securities Research said.
Meanwhile, Malaysian stocks .KLSE traded relatively flat
ahead of a monetary policy decision on Thursday, where the
central bank is expected to keep its benchmark interest rate
unchanged, according to a Reuters poll, as it keeps room for
potential easing later should global growth fall sharply.
The country's industrial production index rose at its
slowest pace in five years in July as mining output slowed,
government data showed on Wednesday. Thai stocks .SETI edged higher on broad-based gains, with
Siam Commercial Bank SCB.BK climbing 1.3% and Kasikornbank
KBANK.BK rising 1.2%.
The Philippine index .PSI eked out modest gains as
strength in consumer shares offset losses in financial stocks.
Bucking the trend, Vietnam stocks .VNI traded in the red.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS As at 0432 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3187.76 3155.71 1.02
Bangkok 1666.09 1665.93 0.01
Manila 7943.42 7929.48 0.18
Jakarta 6337.866 6336.673 0.02
Kuala Lumpur 1597.08 1595.85 0.08
Ho Chi Minh 967.96 970.26 -0.24
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3187.76 3068.76 3.88
Bangkok 1666.09 1563.88 6.54
Manila 7943.42 7,466.02 6.39
Jakarta 6337.866 6,194.50 2.31
Kuala Lumpur 1597.08 1690.58 -5.53
Ho Chi Minh 967.96 892.54 8.45