The South China Morning Post reported https://www.scmp.com/news/china/diplomacy/article/3026585/countdown-trade-war-talks-china-ready-sweeten-deal-buying that China might agree to buy more American agricultural products, hoping for a better deal with the United States.
However, a senior White House adviser tamped down expectations on Tuesday for the next round of U.S.-China trade talks, urging investors, businesses and the public to be patient about resolving the trade dispute between the world's two largest economies.
Sentiment got a lift ahead of monetary policy decisions by the European central bank on Thursday and the U.S. Federal Reserve next week, with investors hoping for further easing amid a slowdown in global growth.
Leading the region, Singapore stocks <.STI> extended gains for a third session, underpinned by financial and real estate shares. Hongkong Land Holdings advanced 2.1%, while DBS Group Holdings hit its highest in more than a month.
Real estate stocks got a boost after the Housing and Development Board (HDB) of Singapore enhanced https://www.hdb.gov.sg/cs/infoweb/press-release/more-affordable-and-accessible-homes-for-singaporeans the Central Provident Fund (CPF) housing grant to provide for affordable and accessible homes.
"STI is up because news has been incrementally more positive. The higher CPF grant and income ceiling will improve the HDB resale and upgraders market. This is supportive for the private residential mass market," Paul Chew, head of research at Phillip Securities Research said.
Meanwhile, Malaysian stocks <.KLSE> traded relatively flat ahead of a monetary policy decision on Thursday, where the central bank is expected to keep its benchmark interest rate unchanged, according to a Reuters poll, as it keeps room for potential easing later should global growth fall sharply.
The country's industrial production index rose at its slowest pace in five years in July as mining output slowed, government data showed on Wednesday.
Thai stocks edged higher on broad-based gains, with Siam Commercial Bank climbing 1.3% and Kasikornbank rising 1.2%.
The Philippine index <.PSI> eked out modest gains as strength in consumer shares offset losses in financial stocks.
Bucking the trend, Vietnam stocks <.VNI> traded in the red.
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SOUTHEAST ASIAN STOCK MARKETS As at 0432 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3187.76 3155.71 1.02
Bangkok 1666.09 1665.93 0.01
Manila 7943.42 7929.48 0.18
Jakarta 6337.866 6336.673 0.02
Kuala Lumpur 1597.08 1595.85 0.08
Ho Chi Minh 967.96 970.26 -0.24
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3187.76 3068.76 3.88
Bangkok 1666.09 1563.88 6.54
Manila 7943.42 7,466.02 6.39
Jakarta 6337.866 6,194.50 2.31
Kuala Lumpur 1597.08 1690.58 -5.53
Ho Chi Minh 967.96 892.54 8.45
(Reporting by Shreya Mariam Job in Bengaluru; Editing by Sherry Jacob-Phillips)
By Shreya Mariam Job