* Trump says China trade deal could be 'soon'
* Singapore flat ahead of industrial output data
* Philippines cenbank decision awaited
By Anushka Trivedi
Sept 26 (Reuters) - Most Southeast Asian stock markets edged
higher on Thursday, with Indonesian shares gaining the most, as
hints of progress in talks to resolve the U.S.-China tariff
dispute lifted investor mood and tempered a shadow over the
global economic outlook.
U.S. President Donald Trump on Wednesday said a deal to end
the longstanding trade war between world's two biggest
economies, which has caused a pall over global fiscal growth,
could happen sooner than expected. Trump's comments sparked a rally in global equities but
gains in Southeast Asia were limited in a low-volume trading
session as the unpredictable nature of the trade spat has caused
immense volatility in the regional markets over the past year.
"Market sentiment remains fragile and ultra-sensitive to any
development around the U.S.-China trade conflict," Han Tan,
market analyst at FXTM said in a note.
"Considering the fact that a rapid deterioration in
U.S.-China relations is not without precedence, investors will
continue scouring the horizon for any signals that can push risk
sentiment either way," he added.
Leading gains in the region, Indonesian stocks .JKSE
marked their best session in a month, underpinned by financials.
Lenders Bank Central Asia Tbk PT BBCA.JK and Bank Rakyat
Indonesia (Persero) Tbk PT BBRI.JK rose 1.9% and 1.2%,
respectively.
Thai stocks .SETI edged up 0.6% after the central bank
stood pat on interest rates. The Bank of Thailand on Wednesday
scaled down its 2019 economic and export forecast, with analysts
at OCBC expecting a rate cut in the fourth quarter. Singapore index .STI was trading steady ahead of the
release of its monthly industrial production figures, which are
expected to contract by 0.7% on-year.
The Philippine benchmark index .PSI dipped as investors
kept a cautious stance ahead of the Bangko Sentral ng Pilipinas
policy decision later in the day where a 25 bps cut is largely
anticipated. Losses in the industrial sector weighed, with International
Container Terminal Services Inc ICT.PS and Alliance Global
Group Inc AGI.PS being the biggest drags in the index.
Meanwhile, the Asian Development Bank (ADB) slashed https://www.bworldonline.com/adb-slashes-forecasts-for-philippine-economic-growth-with-much-of-asia
its growth outlook for the Philippine economy for years 2019
and 2020, citing slowdown in the global growth and in domestic
investment.
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SOUTHEAST ASIAN STOCK MARKETS As at 0409 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3125.06 3125.82 -0.02
Bangkok 1637.48 1628.38 0.56
Manila 7888.91 7896.24 -0.09
Jakarta 6193.728 6146.404 0.77
Kuala Lumpur 1591.15 1589.58 0.10
Ho Chi Minh 987.62 987.3 0.03
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3125.06 3068.76 1.83
Bangkok 1637.48 1563.88 4.71
Manila 7888.91 7,466.02 5.66
Jakarta 6193.728 6,194.50 -0.01
Kuala Lumpur 1591.15 1690.58 -5.88
Ho Chi Minh 987.62 892.54 10.65