* Donald Trump signalled a possible reconciliation with
China
* Philippines touches a nearly two-week low
* Industrial stocks help Singapore index gain
By Soumyajit Saha
Aug 27 (Reuters) - Most Southeast Asian stocks edged higher
on Tuesday as Washington and Beijing struck a conciliatory tone,
calming markets that roiled after a fresh round of trade
tariffs, while Philippines dropped in catch-up trade.
Supporting the market mood, U.S. President Donald Trump on
Monday hailed positive gestures from China as signs of an
imminent trade deal. China's top trade negotiator and Vice
Premier Liu He also called for "calm" negotiations to resolve
the dispute. Indonesian stocks .JKSE recovered from previous session's
losses to touch a nearly two-week high, underpinned by
financials.
Lender Bank Rakyat Indonesia (Persero) BBRI.JK rose 1.2%,
while investment holding Sinar Mas Multiartha SMMA.JK surged
as much as 19.9%.
Equity markets may have found traction for now but the
longer-term outlook for risk assets, buffeted repeatedly by
trade concerns, remained shaky.
"Whether to hang on or hang up, on the breath of relief
(more than optimism) from the "call" may be irrelevant once the
next Twitter feed comes through," Mizuho Bank said in a note to
clients.
"The bigger picture is that deep-seated issues are unlikely
to be resolved on the flick of a switch or tweet," the note
added.
Philippine shares .PSI , which resumed trading after a
holiday, dived over 2% to touch their lowest in almost two
weeks.
Real estate company Ayala Land ALI.PS was down 2.5%, while
lender BDO Unibank BDO.PS lost 2.2%.
The lack of positive catalysts in the Philippine market,
coupled with negative sentiments in the property sector after
China's plans to curb the Philippine offshore gaming operations
were partly behind the downturn in the benchmark, said Rachelle
Cruz, research analyst, AP Securities.
Singapore's benchmark index .STI also advanced, lifted by
conglomerates Jardine Matheson Holdings JARD.SI and Jardine
Strategic Holdings JSH.SI that climbed 2% and 0.4%,
respectively.
Vietnam shares .VNI traded higher, with heavyweights
Vingroup JSC VIC.HM hitting its highest in nearly a week, and
Vinhomes JSC VHM.HM gaining 0.8%.
The Thai benchmark index .SETI flitted between positive
and negative territory, as gains in energy and industrial
sectors offset losses in telco stocks.
Meanwhile, Thailand's manufacturing production index (MPI)
in July dropped 3.23% from a year earlier, a greater fall than
expected, dragged down by lower production of cars, petroleum
and steel. Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS AS AT 0430 GMT
STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3071.6 3065.33 0.20
Bangkok 1623.9 1622.73 0.07
Manila 7761.54 7889.41 -1.62
Jakarta 6260.216 6214.51 0.74
Kuala Lumpur 1597.19 1600.53 -0.21
Ho Chi Minh 985.75 982.88 0.29
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3071.6 3068.76 0.09
Bangkok 1623.9 1563.88 3.84
Manila 7761.54 7,466.02 3.96
Jakarta 6260.216 6,194.50 1.06
Kuala Lumpur 1597.19 1690.58 -5.52
Ho Chi Minh 985.75 892.54 10.44