* Malaysian stocks hit highest since Aug. 9
* Indonesia sees worst session in 11 days
* Thai index slightly up ahead of Nov. trade data
By Shruti Sonal
Dec 30 (Reuters) - Most Southeast Asian markets rose on
Monday, with Malaysian equities hitting an over 4-month high, as
investor sentiment was buoyed by positive developments around
the Sino-U.S. trade deal.
South China Morning Post quoted a Chinese official saying
that Beijing will live up to its trade deal commitments, but
the United States must also honour the one-China policy in
relation to Taiwan. The remarks come as Beijing and Washington announced a
Phase 1 trade deal earlier this month, cooling their 18-month
trade war that has rattled financial markets and hurt global
economic sentiments. Aiding sentiment was a Xinhua News Agency report that retail
sales in China, the biggest trading partner of most Southeast
Asian countries, are expected to increase 8% in 2019.
Malaysian shares .KLSE hit their highest since Aug. 9 as
consumer and utilities jumped.
Genting Malaysia Bhd GENM.KL and Petronas Gas Bhd
PGAS.KL were the top gainers.
Singapore stocks .STI eked out gains on strength in
utilities and industrials.
Index heavyweight Singapore Telecommunications Ltd STEL.SI
climbed as much as 0.9% on news that it is partnering with
ride-hailing firm Grab Holdings Inc to apply for a digital full
banking licence in Singapore. Thai benchmark index .SETI was up slightly ahead of
official November trade data announcement, even as volumes
remained low on its last trading day of the year.
Earlier this month, commerce ministry data showed that the
country recorded a trade surplus of $0.55 billion in November,
compared with a Reuters forecast of a $0.19 billion deficit.
Indonesian stocks .JKSE fell 0.2%, marking their worst
session in 11 days, dragged down by technology and utilities.
IT firm Metrodata Electronics Tbk PT MTDL.JK slumped over
11% to hit its lowest since Dec. 3.
Philippine financial markets are closed from Monday, Dec.
30, till Wednesday, Jan. 1, for public holidays. Trading will
resume on Thursday, Jan. 2.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0341 GMT
STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3230.89 3226.53 0.14
Bangkok 1579.27 1578.22 0.07
Jakarta 6316.353 6329.314 -0.20
Kuala Lumpur 1615.47 1610.61 0.30
Ho Chi Minh 967.16 963.51 0.38
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3230.89 3068.76 5.28
Bangkok 1579.27 1563.88 0.98
Jakarta 6316.353 6,194.50 1.97
Kuala Lumpur 1615.47 1690.58 -4.44
Ho Chi Minh 967.16 892.54 8.36