By Karthika Suresh Namboothiri
Nov 13 (Reuters) - Most Southeast Asian stock markets firmed
on Monday, with Vietnam hitting a fresh near-decade high, as
U.S. President Donald Trump's ongoing Asia tour boosted
prospects of better ties between Washington and the region.
During a bilateral visit to Vietnam, Trump offered to
mediate in the dispute over the South China Sea, where four
Southeast Asian countries and Taiwan contest China's sweeping
claims to the busy waterway.
"The Southeast Asian equity markets are up by the confidence
brought about by the ASEAN conference which should boost
economic ties in the Philippines and other nations with the U.S,
Canada and Australia", said Manny Cruz, an analyst at the
Manila-based Asiasec Equities Inc.
Leaders from China, the United States and seven other
nations are joining the 10-member Association of Southeast Asian
Nations (ASEAN) at their annual summit in Manila.
The sheer length of the trip - the longest to Asia by a U.S.
president in more than a quarter century - may reassure some
that, despite Trump's "America First" policy, Washington remains
committed to a region China sees as its strategic domain.
Vietnam shares surged as much as 1 percent to hit
their highest since January 2008, boosted by the consumer
Vietnam Dairy Products Joint Stock Co advanced 3.7
percent to hit a record high.
Philippine shares rose 0.4 percent, led real estate
and industrials, with SM Prime Holdings up 1.2 percent
and JG Summit Holdings 0.6 percent higher.
Singapore shares edged up 0.1 percent, largely
boosted by industrials, with Keppel Corp Ltd gaining 2
percent to hit its highest in over two years.
Indonesian shares rose 0.3 percent, boosted by
consumer staples and telecommunication services sectors.
Cigarette maker Gudang Garam Tbk gained 2.8
percent to an over three-month high, while Perusahaan Perseroan
(Persero) PT Telekomunikasi Indonesia Tbk rose 1
The index of the country's 45 most liquid stocks
inched 0.3 percent higher.
The Malaysian index gained 0.1 percent, with oil and
gas retailer Petronas Dagangan Berhad up 7.3 percent.
Oil prices edged up on Monday amid ongoing tensions in the
Meanwhile, Thai shares dipped marginally, owing to
losses in the financials and utilities sector.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0448 GMT
Change on the
Market Current Previous Pct Move
Singapore 3423.23 3420.1 0.09
Bangkok 1687.03 1689.28 -0.13
Manila 8467.41 8433.48 0.40
Jakarta 6038.786 6021.828 0.28
Kuala Lumpur 1744.84 1742.28 0.15
Ho Chi Minh 873 868.21 0.55
Change on year
Market Current End 2016 Pct Move
Singapore 3423.23 2880.76 18.83
Bangkok 1687.03 1542.94 9.34
Manila 8467.41 6840.64 23.78
Jakarta 6038.786 5296.711 14.01
Kuala Lumpur 1744.84 1641.73 6.28
Ho Chi Minh 873 664.87 31.30
(Reporting by Karthika Namboothiri in Bengaluru; Editing by