* Singapore likely to rise 1.4% this week
* Vietnam set for 3rd weekly loss
* Thailand poised for biggest weekly gain since late Jan
By Niyati Shetty
June 7 (Reuters) - Most Southeast Asian stock markets eked
out gains on Friday ahead of key U.S. employment data that could
solidify growing expectations of a rate cut by the U.S. Federal
Reserve.
Following Wednesday's weaker-than-expected U.S. private
sector jobs report, the critical non-farm payrolls data due
later on Friday will provide further insight into the state of
the world's largest economy. Markets aggressively started factoring in potential rate
cuts after top Fed officials earlier this week moved away from
their "patient" stance and warned that the fallout from the
trade wars may force them to respond appropriately.
The Singapore index .STI gained up to 0.6% and was on
track to rise 1.4% this week. Industrials and financial stocks
buoyed the index, with conglomerate Jardine Strategic Holdings
JSH.SI adding 0.6% and United Overseas Bank UOBH.SI rising
1.1%.
OCBC Bank in a note said while markets await U.S. data,
optimism over a possible U.S.-Mexico trade deal may also give
boost to Singapore stocks.
Broader financial markets rose on optimism that a trade deal
between the North American neighbours could be close, possibly
postponing the 5% tariffs on Mexican goods due to start on
Monday. A U.S. tariff war with Mexico could further depress the
global economic activity which has taken a hit from the
protracted Sino-U.S. trade spat.
Malaysian stocks .KLSE gained as much as 0.5% on Friday
after returning from a two-and-a-half day market holiday.
Telecommunication shares were among the top gainers, with
Axiata Group AXIA.KL and Maxis MXSC.KL each gaining about
2%.
The Vietnam index .VNI rose as much as 0.7% but was set
for a third weekly loss. Financials and real estate sectors
supported the benchmark.
Thai shares .SETI were poised to rise for a fourth
straight session and to gain 2.3% for the week, the most since
late January.
Philippine equities .PSI declined 0.4% as industrial and
real estate stocks weighed on the index. SM Investments Corp
SM.PS and SM Prime Holdings Inc SMPH.PS slipped 2.1% and
0.5%, respectively.
Markets in Indonesia are closed for a public holiday.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0323 GMT
Market Current Previous close Pct Move
Singapore 3161.81 3146.18 0.50
Bangkok 1656.93 1653.41 0.21
Manila 7923.55 7959.86 -0.46
Kuala Lumpur 1648.43 1644.09 0.26
Ho Chi Minh 952.5 948.21 0.45
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3161.81 3068.76 3.03
Bangkok 1656.93 1563.88 5.95
Manila 7923.55 7,466.02 6.13
Kuala Lumpur 1648.43 1690.58 -2.49
Ho Chi Minh 952.5 892.54 6.72