Southeast Asian stocks rise as US-China trade worries ease

Published: July 01, 2019 13:10:55 | Updated: July 03, 2019 16:11:21

Southeast Asian stock markets saw a relief rally on Monday after weeks of volatile trade, as a thaw in Sino-US trade tensions and upbeat comments from US President Donald Trump revived risk appetite.

The Singapore stock index led gains in the region, with a 1.2 per cent rise. Lenders DBS Group Holdings and United Overseas Bank added 2.5 per cent and 1.7 per cent, respectively.

Indonesian stocks advanced as financials and telecom stocks lent support, ahead of release of June inflation data.

Telecom major Telekomunikasi Indonesia Tbk rose 1.7 per cent.

The index of the country's 45 most liquid stocks were up 0.4 per cent, reports Reuters.

Malaysian stocks also rose, despite data showing June manufacturing activity slowed, with new orders contracting for a ninth straight month as demand conditions softened.

Vietnamese index jumped, with a solid performance at financials and real-estate counters. Builder Vingroup JSC rose 0.9 per cent.

Thai stocks surged as a jump in oil prices provided additional support to the energy-heavy index.

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