SE Asia Stocks-Most recover on trade truce hopes; Thailand, Vietnam down
Wednesday, December 19,2018AsemconnectVietnam - Most Southeast Asian stock markets rose on Wednesday with Indonesia leading the pack on reports of Sino-U.S. trade meetings in January, but Thailand and Vietnam failed to shrug off steep losses of previous session and traded lower.
"...while trade remains a work in progress, investors are at least taking some comfort that a resolution roadmap could be in place as soon as March 2019," he added.
But investors remained cautious amid speculation that the U.S. Federal Reserve may end its tightening cycle in its policy meeting scheduled to conclude later on Wednesday, after a sharp fall in oil prices and U.S. President Donald Trump's call to not to "make yet another mistake". MKTS/GLOB
Shares of telecom products retailer Global Teleshop Tbk GLOB.JK rose 25 percent and those of lender Bank Agris Tbk AGRS.JK rose about 24 percent, and were was among top percentage gainers.
Meanwhile, Malaysia's consumer price index (CPI), which is due later in the day, is expected to rise 0.5 percent in November from a year earlier, a Reuters poll showed, marginally slower than the previous month amid lower transport prices.
hailand's benchmark .SETI edged lower with heavyweight energy stocks coming under pressure and accounting for a majority of losses after oil prices plummeted overnight.
Vietnam's index .VNI bucked the trend to edge slightly lower. It is on track for its fifth straight day of loss with its real-estate and consumer stocks coming under pressure.
SOUTHEAST ASIAN STOCK MARKETS at 0328 GMT
Change on the day
|
|
|
|
Market
|
Current
|
Previous close
|
Pct Move
|
Singapore
|
3054.77
|
3045.54
|
0.30
|
Bangkok
|
1580.74
|
1583.19
|
-0.15
|
Manila
|
7454.6
|
7420.4
|
0.46
|
Jakarta
|
6143.297
|
6081.867
|
1.01
|
Kuala Lumpur
|
1648.52
|
1635.31
|
0.81
|
Ho Chi Minh
|
922.81
|
927.25
|
-0.48
|
Change on year
|
|
|
|
Market
|
Current
|
End prev yr
|
Pct Move
|
Singapore
|
3054.77
|
3402.92
|
-10.23
|
Bangkok
|
1580.74
|
1753.71
|
-9.86
|
Manila
|
7454.6
|
8,558.42
|
-12.90
|
Jakarta
|
6143.297
|
6,355.65
|
-3.34
|
Kuala Lumpur
|
1648.52
|
1796.81
|
-8.25
|
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