* Markets await Trump's speech
* Bangkok Life Assurance posts upbeat quarterly results
* Vietcombank rises on deal with FWD Group
By Anushka Trivedi
Nov 12 (Reuters) - Southeast Asian markets eked out modest
gains on Tuesday, with trade-sensitive Singapore shares rising
the most as investors eagerly await a key speech by U.S.
President Donald Trump for clues on a U.S.-China trade deal.
Later in the day, Trump is scheduled to address U.S. trade
policy at the Economic Club of New York, and markets will tune
in for any upbeat commentary since his remark on Friday, that he
had not agreed to roll back tariffs, had dented prospect of an
imminent trade pact. Hopes of positive news from the event boosted Shanghai
.SSEC as well as Hong Kong stocks .HSI .
In a low volume session, Singapore shares .STI jumped 0.8%
on strength in industrial stocks. The index had shed about 1.4%
over the past two days.
"An improvement in U.S.-China trade relations leaves
Singapore poised better than most, to gain an immediate
benefit," Jeffrey Halley, senior market analyst, Asia Pacific at
OANDA said in a note.
"The worsening situation in Hong Kong will almost certainly
benefit Singapore in the longer-term, as investment decisions
between the two become no-brainer right now," he added.
Conglomerates Jardine Strategic Holdings Ltd JSH.SI and
Jardine Matheson Holdings Ltd JARD.SI added 4.8% and 2.6%,
respectively.
Thai shares .SETI advanced as Bangkok Life Assurance's
BLA.BK jump in quarterly profit propelled the financials
higher while telco Advanced Info Service PCL ADVANC.BK tacked
on 2.2%.
Vietnam's main index .VNI rose 0.2%, buoyed by financials.
Insurer FWD Group is set to acquire a unit of Vietcombank
VCB.HM , the country's top lender and forge an exclusive
15-year bancassurance tie-up with the bank, in a deal valued at
about $400 million. Vietcombank's shares closed up 0.4%.
Meanwhile, customs data showed Vietnam's trade surplus
widened to $1.86 billion in October as exports rose, when
compared to the previous month. Philippine shares .PSI ended flat after trading lower
throughout the session as investors picked up heavyweight stocks
SM Prime Holdings Inc SMPH.PS and BDO Unibank Inc BDO.PS at
the last minute.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3267.8 3240.65 0.84
Bangkok 1626.2 1622.12 0.25
Manila 8012.34 8009.38 0.04
Jakarta 6180.992 6148.74 0.52
Kuala Lumpur 1609.73 1608.15 0.10
Ho Chi Minh 1018.33 1016.75 0.16
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3267.8 3068.76 6.49
Bangkok 1626.2 1563.88 3.98
Manila 8012.34 7,466.02 7.32
Jakarta 6180.992 6,194.50 -0.22
Kuala Lumpur 1609.73 1690.58 -4.78
Ho Chi Minh 1018.33 892.54 14.09