* Singapore snaps 3-session losing streak, rises over 1%
* Philippines recovers from a 6-week low earlier in the day
* Vietnam slips 1%, closes at over 2-month low
By Arundhati Dutta
Nov 22 (Reuters) - Most Southeast Asian stock markets shed
early losses to close higher on Friday, with Singapore leading
the pack after Chinese President Xi Jinping revived hopes of
reaching an interim trade deal with the United States.
Investor sentiment turned after Xi said China wants to work
out an initial deal and has been working actively to avoid a
trade war. However, hopes were held in check as U.S. President Donald
Trump is soon expected to sign the bills backing pro-democracy
Hong Kong protesters into law, stoking fears that the already
fragile Sino-U.S. ties may worsen. "Thankfully, China appears to be blaming Congress, and not
President Trump and his coterie, for the Hong Kong Law. After
some initial grumbling, China prefers to concentrate on the more
significant issues at hand," Jeffrey Halley, senior market
analyst at Asia Pacific OANDA, wrote in a note.
Trade-sensitive Singapore equities .STI rebounded from an
over 1% tumble in the previous session to end 1.1% higher.
Conglomerate Jardine Matheson Holdings JARD.SI tacked on 2.5%
while Jardine Strategic Holdings JSH.SI rose 1.7%.
Philippines markets .PSI , which had fallen as much as 1.4%
earlier in the day to hit a six-week low, recovered in late
trade to close flat.
Thai shares .SETI advanced 0.4%, lifted by financials.
Lenders Siam Commercial Bank SCB.BK and Kasikornbank
KBANK.BK gained 0.9% and 2.3%, respectively.
Malaysian stocks .KLSE added 0.3%, with index heavyweight
and electricity retailer Tenaga Nasional TENA.KL rising 0.7%.
However, the Vietnamese index .VNI closed at its lowest
level in over two months and logged its biggest weekly drop in
nearly a year.
Joint Stock Commercial Bank for Foreign Trade of Vietnam
VCB.HM and Joint Stock Commercial Bank for Investment and
Development of Vietnam BID.HM lost 2.3% and 2.4%,
respectively.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3225.65 3192.21 1.05
Bangkok 1597.72 1591.86 0.37
Manila 7824.59 7818.89 0.07
Jakarta 6100.242 6117.364 -0.28
Kuala Lumpur 1596.84 1592.19 0.29
Ho Chi Minh 977.78 987.89 -1.02
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3225.65 3068.76 5.11
Bangkok 1597.72 1563.88 2.16
Manila 7824.59 7,466.02 4.80
Jakarta 6100.242 6,194.50 -1.52
Kuala Lumpur 1596.84 1690.58 -5.54
Ho Chi Minh 977.78 892.54 9.55