Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Southeast Asia stocks: Most rise on U.S.-China trade deal, Singapore leads

share with twitter share with LinkedIn share with facebook
01/14/2020 | 05:58am EDT

Most Southeast Asian stock markets ended higher on Tuesday, underpinned by optimism on the imminent signing of a Phase 1 trade deal between the United States and China, with Singapore leading gains lifted by the industrial sector.

Under the terms of the trade deal to be signed on Wednesday in Washington, China has pledged to buy nearly $80 billion worth of additional manufactured goods from the United States over the next two years, and would also buy more than $50 billion more in energy supplies, a source told Reuters on Monday.

"Asia markets are expected to sing to the cheer on Wall Street with the alleviation of U.S.-China trade tensions carrying this week," IG Asia said.

Aiding the sentiment further, exports from the region's largest trading partner, China, rose for the first time in five months in December and by more than expected, signalling a modest recovery in demand.

In Southeast Asia, the benchmark index of trade-reliant Singapore closed at a more than 2-month high, driven by major gains in the industrial sector.

Industrial conglomerates Jardine Strategic Holdings and Jardine Matheson Holdings advanced 4.6% and 3.8%, respectively.

Indonesian shares ended higher for the fourth consecutive session. Bank Rakyat Indonesia (Persero) added 1.3%, while Unilever Indonesia was up 0.9%.

The Philippine bourse reversed course from earlier in the session as investors rushed back to equities in last minute trading. The index gained 16.48 points after losing as much as 92.49 points earlier.

Consumer firms lifted the index, with food and beverage firm Universal Robina Corp jumping 6.5%.

Malaysian equities fell for a third straight session, however, though the main index trimmed its earlier losses to finish 0.3% lower.

Indian palm oil importers effectively stopped all purchases from Malaysia, the world's second largest palm producer, after the government privately urged them to boycott its product following a diplomatic spat, sources said. [POI/]

Malaysia's exports to India constituted nearly a quarter of its total palm oil exports in 2019 http://bit.ly/2QSGy9W. According to government data from 2018 http://bit.ly/36RmLgF, palm oil was the major contributor to the gross domestic product of the country's agriculture sector.

Sime Darby Plantation and IJM Plantations ended 2.2% and 3.6% lower, respectively.

Thai stocks finished marginally higher, while Vietnam index gained 0.1%.

By Sameer Manekar

Stocks mentioned in the article
ChangeLast1st jan.
CPO (CPO) - CMG (ELECTRONIC)/C1 -0.07% 700.5 End-of-day quote.0.36%
IJM PLANTATIONS -2.38% 1.64 End-of-day quote.-30.51%
JARDINE MATHESON HOLDINGS LIMITED -0.63% 44.39 End-of-day quote.-20.16%
JARDINE STRATEGIC HOLDINGS LIMITED -1.32% 21.69 End-of-day quote.-29.23%
LETS HOLDINGS GROUP CO., LTD. -4.72% 8.28 End-of-day quote.37.09%
LINE CORPORATION -0.37% 5370 End-of-day quote.0.37%
LONDON BRENT OIL 0.53% 37.86 Delayed Quote.-38.33%
LOOK HOLDINGS INCORPORATED -0.62% 958 End-of-day quote.-23.48%
PT BANK RAKYAT INDONESIA (PERSERO) TBK 0.60% 3360 End-of-day quote.-23.64%
PT UNILEVER INDONESIA TBK -0.63% 7825 End-of-day quote.-6.85%
RISE, INC. 3.85% 27 End-of-day quote.-10.00%
SIME DARBY PLANTATION -0.21% 4.84 End-of-day quote.-11.19%
UNILEVER N.V. -1.02% 48.55 Delayed Quote.-5.23%
UNIVERSAL ROBINA CORPORATION 1.85% 137.7 End-of-day quote.-5.03%
WORLD CO., LTD. -2.36% 1323 End-of-day quote.-50.84%
WTI -1.29% 35.72 Delayed Quote.-36.69%
share with twitter share with LinkedIn share with facebook
Latest news "Economy & Forex"
03:50aCENTRAL BANK OF REPUBLIC OF TURKEY : Press Release on Maximum Interest Rates for Credit Cards (2020-64)
03:36aAmazon tells india market regulator its partner future retail misled public, shareholders on contract disclosures-letter
03:32aAirport transfer Blacklane bets on intercity trips to revive COVID-hit business
03:31aChina suspends imports from Ecuadorian company after coronavirus found on seafood packaging
01:55aCENTRAL PEOPLE GOVERNMENT OF PEOPLE RE : China's non-manufacturing PMI rises in October
01:27aNew Zealand PM Ardern to announce government on Nov. 2
01:21aU.S. reports world record of more than 100,000 COVID-19 cases in single day
01:05aCENTRAL BANK OF SEYCHELLES : SBM Bank (Seychelles) Limited is officially closed for business
01:01aDays before election, economic data reveals gradual improvement, gloomy outlook
10/30Nigeria reaches out to U.S., South Korea to back WTO candidate
Latest news "Economy & Forex"