* Singapore snaps six sessions of declines
* Indonesia hits highest in over 2 weeks
* Industrial, real estate hurt Philippines
By Soumyajit Saha
Dec 5 (Reuters) - Most Southeast Asian stock markets traded
higher on Thursday, lifted by signals that Washington and
Beijing were on course to reach a preliminary trade deal.
Trade negotiations with China were going "very well", U.S.
President Donald Trump said on Wednesday, a day after suggesting
that a deal may not come until after the 2020 U.S. presidential
election. The comments had triggered declines in global markets
on Wednesday. "It appears that Trump's off the rails representation of
U.S.-China trade deal negotiations, having unduly flustered
earlier, triggered a knee-jerk relief response," Mizuho Bank
said in a note to clients.
"The relief for now is welcome, but complacency is not. Fact
is, unpredictability looks like a mainstay in global affairs".
Separately, media reports suggested the world's top two
economies were closer to agreeing on the amount of tariffs to be
rolled back in a phase-one trade deal. Shares in Singapore .STI , considered a bellwether for
global trade conditions, snapped six sessions of declines.
Gains in real estate stocks such as Capitaland CATL.SI and
consumer stocks like Wilmar International WLIL.SI , both up
over 1%, propped up the index.
Indonesian stocks .JKSE hit their highest in over two
weeks, helped by consumer and banking stocks.
Consumer goods company Unilever Indonesia UNVR.JK rose
0.7%, while lender Bank Rakyat Indonesia (Persero) BBRI.JK
advanced 1.5%.
An index of the 45 most liquid stocks in Indonesia .JKLQ45
gained 0.8%.
But Philippine shares .PSI bucked the trend, down 0.3% on
losses in the industrial and real estate sectors.
Inflation in the country accelerated to 1.3% in November
from a year earlier, matching expectations and higher than
October's 0.8% climb. Financial stocks helped Vietnam .VNI rise, while Malaysian
shares .KLSE also benefited from gains in the consumer and
banking sectors.
Markets in Thailand were closed for a public holiday.
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SOUTHEAST ASIAN STOCK MARKETS
STOCK MARKETS
Change on the day
Market Current Previous Pct Move
close
Singapore 3176.12 3159.79 0.52
Manila 7790.79 7815.93 -0.32
Jakarta 6143.165 6112.879 0.50
Kuala Lumpur 1563.83 1560.93 0.19
Ho Chi Minh 966.73 965.9 0.09
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3176.12 3068.76 3.50
Bangkok 1565.45 1563.88 0.10
Manila 7790.79 7,466.02 4.35
Jakarta 6143.165 6,194.50 -0.83
Kuala Lumpur 1563.83 1690.58 -7.50
Ho Chi Minh 966.73 892.54 8.31