SE Asia Stocks-Rise on optimism from Sino-U.S. trade talks
* Indonesia annual consumer inflation slows in January
* Philippines gains most, up over 1 percent
* Malaysia closed for Federal Territory Day
By Mensholong Lepcha
Feb 1 (Reuters) - Southeast Asian stocks rose on Friday as
the latest round of Sino-U.S. trade talks ended on a positive
note, with President Donald Trump saying he was optimistic that
the two nations could reach "the biggest deal ever made."
Philippine shares climbed the most in the region,
rising as much as 1.3 percent on broad-based gains.
Index heavyweights SM Investment Corp and BDO
Unibank added as much as 0.9 percent and 2.6 percent,
respectively.
Trump said on Thursday he will meet with Chinese President
Xi Jinping soon to try to seal a comprehensive trade deal.
However, no specific plans for the meeting were announced. The
latest round of talks also helped offset a private survey data
that showed China's January factory activity shrank the most in
almost three years.
Most other markets in the region were in an upbeat mood,
with Indonesian shares rising as much as 0.8 percent
after data showed the country's annual consumer inflation in
January slowed more than expected.
Financial stocks dominated gains on the Jakarta index, with
both Bank Central Asia and Bank Rakyat Indonesia
(Persero) hitting record highs.
"The high-level China-U.S. trade talks did not result in any
negative headlines. Expectations for a sweeping deal were low to
begin with and the market is probably relieved that trade
tensions are no longer escalating," said DBS Group Research in a
client note.
"That said, the 1st March deadline (where the United States
would slap even more tariffs on Chinese imports) looms. If a
deal is not struck by then, there would be a dent on sentiment,"
DBS Group Research added.
Thai shares were up as much as 0.3 percent ahead of
inflation data slated to release later in the day.
A Reuters poll showed Thai annual headline inflation rate in
January may have slowed from the previous month and stayed below
the central bank's target range for a third straight month.
Index heavyweights PTT and PTT Exploration and
Production climbed as much as 1 percent and 0.4
percent, respectively.
Elsewhere, Singapore and Vietnam shares were
nearly flat.
Malaysian stock market was closed for Federal
Territory Day.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS AS AT 0316 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3191.94 3190.17 0.06
Bangkok 1646.14 1641.73 0.27
Manila 8111.9 8007.48 1.30
Jakarta 6555.79 6532.969 0.35
Ho Chi Minh 911.25 910.65 0.07
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3191.94 3068.76 4.01
Bangkok 1646.14 1563.88 5.26
Manila 8111.9 7,466.02 8.65
Jakarta 6555.79 6,194.50 5.83
Kuala Lumpur 1683.53 1690.58 -0.42
Ho Chi Minh 911.25 892.54 2.10
(Reporting by Mensholong Lepcha; Editing by Shreejay Sinha)