* China C.bank cuts medium-term lending facility interest
rate
* Philippines hits over three-month high
* Malaysia down ahead of cenbank rate decision
By Sameer Manekar
Nov 5 (Reuters) - Most Southeast Asian stock markets rose on
Tuesday on signs that Washington and Beijing were nearing a
trade truce, while fresh stimulus measures in China, the
region's largest trading partner, also supported buying.
Global equities got a boost after the Financial Times
reported that the United States is considering dropping existing
tariffs on Chinese goods as a concession to seal a partial deal,
which according to U.S. officials, could be signed this month.
"The most significant change on the trade front compared
with just three months ago is that both sides, which were very
negative on the deal, now want to get something signed," said
Joel Ng, analyst, KGI Securities.
Gestures such as removal of tariffs show the "attitude of
the two countries, that they are keen on getting the deal
signed", which is helping push up equity markets, he added.
Meanwhile, China's central bank cut the interest rate on its
medium-term lending facility (MLF) for the first time since
early 2016, in a bid to shore up liquidity amid slowing economic
growth. Services sector activity in China expanded at a slower
pace in October. In Southeast Asia, the Philippine bourse .PSI advanced to
its highest in over three months, after data showed the
country's annual inflation rose 0.8% in October from last year,
remaining within the central bank's forecast range for the
month. Financials and consumer firms lifted the index, with Bank of
the Philippine Islands BPI.PS and SM Investments Corp SM.PS
adding up to 2.6% and 4.3%, respectively.
Indonesian shares .JKSE rebounded after three straight
sessions of losses, with Bank Mandiri (Persero) BMRI.JK and
poultry feed producer Charoen Pokphand Indonesia CPIN.JK
gaining 2.2% and 1.8%, respectively.
Sentiment got a lift after data showed on Tuesday that the
country's economy grew 5.02% in the third quarter compared with
last year, roughly in line with market expectations.
An index of Jakarta's 45 most liquid stocks .JKLQ45 traded
up to 1.2% higher.
Singapore equities .STI rose on the back of financials and
industrial sectors, with DBS Group Holdings DBSM.SI and
Jardine Strategic Holdings JSH.SI advancing up to 1% and 1.8%,
respectively.
Malaysia's benchmark index .KLSE traded in negative
territory ahead of a central bank meeting, in which the Bank
Negara Malaysia is expected to keep its benchmark interest rate
unchanged, according to a Reuters poll. Thai stocks .SETI hit their highest in near two weeks,
with Advanced Info Service PCL ADVANC.BK and Kasikornbank PCL
KBANK.BK gaining 0.9% and 1.4%, respectively.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0434 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3246.42 3236.4 0.31
Bangkok 1625.83 1622.25 0.22
Manila 8142.41 8059.65 1.03
Jakarta 6213.205 6180.344 0.53
Kuala Lumpur 1600.44 1603.56 -0.19
Ho Chi Minh 1023.99 1022.43 0.15
Change on year
Market Current End 2018 Pct Move
Singapore 3246.42 3068.76 5.79
Bangkok 1625.83 1563.88 3.96
Manila 8142.41 7466.02 9.06
Jakarta 6213.205 6194.498 0.30
Kuala Lumpur 1600.44 1690.58 -5.33
Ho Chi Minh 1023.99 892.54 14.73