* Singapore snaps six sessions of declines
* Rise in Nov. inflation hurts Philippines
* Resource, banking stocks help Indonesia
By Soumyajit Saha
Dec 5 (Reuters) - Most Southeast Asian stock markets ended
higher on Thursday, with Indonesia leading the gains, buoyed by
hopes of a preliminary Sino-U.S. trade deal before further
tariffs kick in on Dec. 15.
U.S. President Donald Trump on Wednesday raised expectations
of a breakthrough after he said negotiations with China were
"going very well," relieving some pressure in a week that has
seen the U.S. announce tariffs on multiple other countries.
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. "However, until the day we see it (a trade deal) in black
and white, investors are likely to remain cautious and vigilant
on this matter," said Margaret Yang Yan, analyst at CMC Markets.
Resource and banking stocks helped the Indonesian index
.JKSE rise the most in the region.
Chemicals maker Chandra Asri Petrochemical TPIA.JK
advanced 1.6%, while lender Bank Rakyat Indonesia (Persero)
BBRI.JK was 2.2% higher.
An index of the 45 most liquid stocks in Indonesia .JKLQ45
gained 1.3%.
Singapore's benchmark index .STI snapped six sessions of
losses, helped by gains in the real estate and consumer sectors.
Real estate developer Capitaland CATL.SI rose 0.8%, while
agribusiness company Wilmar International WLIL.SI was up 2.5%.
Philippine stocks .PSI fell after the country's inflation
accelerated to 1.3% in November from a year earlier, higher than
October's 0.8% climb. "The inflation data was slightly higher than the state's
target, so there might be some dial back in the BSP's (Bangko
Sentral ng Pilipinas) easing measures, and the market is
reacting to that," said Rachelle Cruz, an analyst at
Manila-based AP Securities.
The index was also dragged by big cap stocks like Ayala Land
ALI.PS and Metro Pacific MPI.PS , after Philippine President
Rodrigo Duterte ordered https://in.reuters.com/article/philippines-politics-utilities/philippines-duterte-orders-prosecution-of-utilities-over-onerous-contracts-idINKBN1Y81PM
the filing of criminal charges against two water utilities
related to them.
"The sentiment is negative for foreign investors if there is
political interference in businesses, especially as it is
related to water infrastructure," Rachelle added.
Malaysian shares .KLSE rose on gains in the consumer and
banking sectors, while Vietnam stocks .VNI were slightly
lower.
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 3174.19 3159.79 0.46
Manila 7790.91 7815.93 -0.32
Jakarta 6152.117 6112.879 0.64
Kuala Lumpur 1563.58 1560.93 0.17
Ho Chi Minh 963.27 965.9 -0.27
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3174.19 3068.76 3.44
Bangkok 1565.45 1563.88 0.10
Manila 7790.91 7,466.02 4.35
Jakarta 6152.117 6,194.50 -0.68
Kuala Lumpur 1563.58 1690.58 -7.51
Ho Chi Minh 963.27 892.54 7.92