Southeast Asian stocks climb on trade optimism

Published: February 19, 2019 13:09:07 | Updated: April 02, 2019 14:19:15

Most Southeast Asian stock markets climbed on Tuesday, lifted by optimism that the United States and China might be inching towards a deal to resolve their nearly year-long trade dispute.

The Malaysian benchmark index extended gains to a second session, with Petronas Chemicals Group Bhd and Tenaga Nasional Bhd rising as much as 3.9 per cent and 0.5 per cent respectively.

Vietnam shares were boosted by real estate stocks, as Vinhomes JSC gained up to 4.4 per cent, while Vingroup JSC firmed 1.2 per cent, reports Reuters.

Indonesian stocks pared previous session's upbeat gains to edge 0.3 per cent higher.

Energy and financial shares were the biggest boost, with Bank Maybank Indonesia surging as much as 24.8 per cent, while Bank Rakyat Indonesia rose up to 2.6 per cent.

Philippine stocks were the outlier in the regional market, with financials and industrials dragging the index.

Shares of BDO Unibank Inc dropped as much as 1.7 per cent, while Ayala Corp slipped up to 1.4 per cent.

Singapore stocks traded relatively flat, while the Thai index was closed for a holiday.  

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