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SE Asia Stocks-Singapore soars on growth hopes; Vietnam jumps

By Sumeet Gaikwad

Nov 21 (Reuters) - Singapore stocks soared on Tuesday on

expectations that the economy grew at a faster pace than

initially estimated in the third quarter, while most other

Southeast Asian markets were subdued ahead of the release of

U.S. Federal Reserve minutes.

The Fed minutes, closely watched for indications of a rate

hike in December, could also provide clues on further U.S.

monetary policy tightening.

Interest rate futures traders are pricing in a 92 percent

chance of a December rate hike, according to the CME Group's

FedWatch Tool. The minutes are due on Wednesday.

Singapore shares surged more than 1 percent, on track

for their third straight winning session, underpinned by hopes

that an uptick in global demand was boosting exports.

A Reuters poll on Friday predicted quarter-on-quarter growth

in Singapore at 7.4 percent in July-September, on a seasonally

adjusted and annualised basis, the fastest pace since the fourth

quarter of 2016. The GDP data is scheduled to be

released on Thursday.

Financials climbed, with DBS Group Holdings and

OCBC gaining 2.2 percent and 2 percent, respectively.

Meanwhile, Vietnam shares jumped 2.5 percent to a

fresh near decade high. Vietnam Dairy Products and

Saigon Beer and Alcohol Beverage Corp jumped as much as

4.7 percent and 6.6 percent, respectively, to record highs.

Philippine stocks inched down 0.3 percent, dragged by

industrials and telecom.

Market heavyweight SM Investment fell nearly 1

percent, while PLDT Inc shed 1.2 percent.

Indonesian shares also slipped 0.3 percent, snapping

a three-session gaining run, weighed by consumer discretionary

and consumer staples.

Indonesia's index of 45 most liquid stocks fell

0.3 percent.

Blue-chip companies Gudang Garam shed 2 percent,

after having gained 3.1 percent in the previous session. Mining

contractor United Tractors was down 2.7 percent.

Malaysian share market was marginally higher, while

Thai shares held steady.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0410 GMT

Market Current Previous Close Pct Move

Singapore 3422 3386.59 1.05

Bangkok 1714.5 1714.38 0.01

Manila 8293.52 8321.98 -0.34

Jakarta 6032.704 6053.282 -0.34

Kuala Lumpur 1720.15 1718.36 0.10

Ho Chi Minh 926.1 903.55 2.50

Change on year

Market Current End 2016 Pct Move

Singapore 3422 2880.76 18.79

Bangkok 1714.5 1542.94 11.12

Manila 8293.52 6840.64 21.24

Jakarta 6032.704 5296.711 13.90

Kuala Lumpur 1720.15 1641.73 4.78

Ho Chi Minh 926.1 664.87 39.29

(Reporting by Sumeet Gaikwad in Bengaluru; Editing by Amrutha

Gayathri)