SE Asia Stocks-Most rise as Trump pushes tariff deadline; Vietnam leads
* Vietnam on track for sixth straight session of gains
* Singapore shares trade lower ahead of inflation data
By Shriya Ramakrishnan
Feb 25 (Reuters) - Most Southeast Asian stock markets traded
higher on Monday, with Vietnam leading the pack, on hopes of a
Sino-U.S. trade deal after U.S. President Donald Trump pushed
back the planned increase in tariffs on Chinese imports from
March 1.
Trump on Sunday tweeted that "substantial progress" had been
made in trade talks with China over the weekend.
Trump did not set a new deadline for the talks to conclude,
but told U.S. state governors gathered at the White House that
there could be "very big news over the next week or two" if all
went well in the negotiations.
"This is likely to give market a relief in trade concerns,
but U.S.-China confrontation in trades and technology remains a
mid-to-long term theme due to its complexity and significant
impact to global economy," Margaret Yang Yan, a market analyst
at CMC Markets Singapore, wrote in a note.
"Lack of details on what so called 'significant progress'
came in the last two rounds of talks, it is hard to convince
people that the worst is over on the negotiation table," she
added.
China is the biggest trading partner of the Southeast Asian
region.
The Vietnam index climbed as much as 1.1 percent to
its highest level since Oct. 9 in early trade, and was poised to
extend gains for a sixth consecutive session, buoyed by
financial stocks. The benchmark was trading 0.6 percent higher
at 0417 GMT.
Moody's Investor Services said banks in Vietnam will achieve
a further improvement in profitability, owing to wider net
interest spreads and lower credit costs.
The Joint Stock Commercial Bank for Foreign Trade Of Viet
Nam, Vietnam's largest listed bank climbed 1.3 percent,
while Vingroup JSC, the country's top listed firm by
market value, added 0.3 percent.
The Indonesian index rose 0.3 percent, with consumer
and telecom stocks boosting the index.
Shares of Indonesian conglomerate Astra International TBK PT
advanced 1.6 percent, while those of Telekomunikasi
Indonesia (Persero) Tbk Perusahaan Perseroan PT gained
0.8 percent.
Meanwhile, Singapore shares dipped 0.3 percent, ahead
of the release of key inflation data, which could provide
insight on further cooling in the island state's economy after a
weak GDP showing.
Singapore's consumer index probably rose 0.6 percent in
January from a year earlier due to an expected increase in
transport costs and food prices before the Lunar New Year
Holidays, a Reuters poll showed.
Philippine markets were closed for a holiday.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS AS AT 0417 GMT
STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3259.97 3269.9 -0.30
Bangkok 1669.46 1659.2 0.62
Jakarta 6513.691 6501.378 0.19
Kuala Lumpur 1719.98 1721.42 -0.08
Ho Chi Minh 995.19 988.91 0.64
Change on year
Market Current End 2018 Pct Move
Singapore 3259.97 3068.76 6.23
Bangkok 1669.46 1563.88 6.75
Jakarta 6513.691 6194.498 5.15
Kuala Lumpur 1719.98 1690.58 1.74
Ho Chi Minh 995.19 892.54 11.50
(Reporting by Shriya Ramakrishnan in Bengaluru; Editing by
Rashmi Aich)
