SHANGHAI, March 27 -- China's bookstore chain brand Fang Suo Commune clinched the Bookstore of the Year Award at The London Book Fair International Excellence Awards, the fair announced Tuesday. It beat BOA Bookstore of Vietnam and Unity Books Wellington of New Zealand, both on the shortlist to win. Located at Taikoo Hui, one of the high-end shopping malls in the southern Chinese metropolis of Guangzhou, Fang Suo Commune is an innovative bookstore nestled among luxury shops. "This award goes from strength to strength and the entries were exceptionally strong this year," LBF judges said. "Fang Suo is ...breathtaking in scale and conception. (There is) A vast range of activities and events ...that gives you a glimpse of what bookstores of the future will be." Opened in 2011, Fang Suo Commune Guangzhou has bookshelves covering its walls, from floor to ceiling. The 1,800-square-meter store boasts a coffee bar, a boutique and a handicrafts shop, and welcomes more than 2 million visitors through her doors every year. Fang Suo Commune Bookstore regularly hosts art exhibitions, lectures and book launches about art, culture and lifestyle, turning it into a center for the city's book lovers. The brand, now with branches in China's southwestern cities of Chengdu and Chongqing, and northeastern city of Qingdao, Shandong Province, aims at creating a new system for the Chinese aesthetics of life and exploring the possibilities of becoming an urban cultural complex, according to its official website. Other winners of the LBF International Excellence Awards included Finland's Espoo City Library, which won the Library of the Year Award, and Ukraine's Book Arsenal Literary Festival, which took home the Literary Festival Award. The Audiobook Publisher of the Year Award went to Booklava from the United Arab Emirates.
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"SET drops ahead of Thai Raksa Chart ruling" BANGKOK, March 6 -- Thai stocks dropped ahead of the Constitutional Court' ruling on the Thai Raksa Chart Party, while Philippine shares jumped 2% on Wednesday, led by real estate and consumer stocks. The Stock Exchange of Thailand main index fell 13.49 points or 0.82%, in turnover of 44 billion baht, with all sectors except energy in the negative territory. The court will give its ruling on Thursday whether to ban Thak Raksa Chart for nominating Princess Ubolratana as its candidate for prime minister in the March 24 general election. The Election Commission had asked the court to dissolve the party after it nominated the princess. "Tomorrow's ruling will be worth closely monitoring as it may trigger a start of heightened political risks that could derail the Thai economy," OCBC Bank said in a note. The Philippine benchmark stock index, which was Southeast Asia's worst performer last month, gained the most among regional markets as a selloff last week made valuations more attractive. Foreign investors bought net 273 million pesos (US$5.23 million) in equities on Wednesday, exchange data shows. SM Prime Holdings, the country's second-largest firm by market value, advanced 3.6%, while real estate conglomerate Ayala Land Inc gained 2.3%. Singapore stocks closed lower for a second session in three, dragged by industrial and consumer stocks. Index heavyweight Jardine Matheson Holdings Ltd dipped 2.1%, while food retailer Dairy Farm International Holdings Ltd weakened 4%. Meanwhile, Indonesian shares snapped two consecutive sessions of losses, helped by consumer and financial stocks. Clove cigarette maker Gudang Garam Tbk PT rose 2.1%, while lender PT Bank Mayapada Internasional Tbk added 11.4%. HANOI, February 28 -- The White House says no joint agreement was reached between President Trump and North Korean leader Kim Jong Un at their second summit in Hanoi. “No agreement was reached at this time, but their respective teams look forward to meeting in the future,” press secretary Sarah Sanders wrote in a statement. Sanders added: “President Donald J. Trump of the United States and Chairman Kim Jong Un of the State Affairs Commission of the Democratic People’s Republic of Korea had very good and constructive meetings in Hanoi, Vietnam, on February 27-28, 2019." White House press secretary Sarah Huckabee Sanders said the two leaders "had very good and constructive meetings" and "discussed various ways to advance denuclearization and economic driven concepts," but that "no agreement was reached at this time." The two leaders had been scheduled to hold a signing ceremony Thursday afternoon in Hanoi for an expected deal. But the event was called off less than two hours before it was supposed to take place, and Trump moved up his departure time from Vietnam. Trump had spent the morning setting expectations for the event, repeatedly stressing that he was "in no rush" to force North Korea to denuclearize. "Speed is not that important to me as long as there’s no testing," Trump said Thursday morning in Vietnam, referencing Pyongyang's halt of missile tests. At one point, Trump reiterated the phrase "no rush" several times in a row. "Over the years, I’m sure we’ll be together a lot,” he added. In a startling moment, Kim even responded to reporters' questions about his intentions and predictions for the summit. “It’s too early to tell, but I wouldn’t say I’m pessimistic,” he said through a translator, perhaps answering a foreign journalist's question for the first time. “From what I feel right now I do have a feeling that good results will come out." WASHINGTON, February 24 -- US President Donald Trump has welcomed sanctions imposed by Russia and China on the border with North Korea. "The last thing China wants are large scale nuclear weapons right next door. Sanctions placed on the border by China and Russia have been very helpful," Trump tweeted on Sunday. The US president blogged that he is leaving for Hanoi, Vietnam, early on Monday to meet with North Korean leader Kim Jong Un. "’We both expect a continuation of the progress made at first Summit in Singapore. Denuclearization?" the president wrote, adding that he has "great relationship with Chairman Kim". According to the US president, Kim Jong Un "realizes, perhaps better than anyone else, that without nuclear weapons, his country could fast become one of the great economic powers anywhere in the World." "Because of its location and people (and him), it has more potential for rapid growth than any other nation!" he wrote in his Twitter account. Trump also hailed Chinese President Xi Jinping for helping to organize a second US-North Korea summit, due next week. On June 12, Donald Trump and Kim Jong Un held a historic meeting - the first-ever between a sitting US president and a North Korean leader - in Singapore. They signed a joint statement, pledging to implement the stipulations in the document fully and expeditiously. North Korea committed to work towards denuclearization of the Korean Peninsula in return for security guarantees from the United States. PYONGYANG, February 23 -- North Korean leader Kim Jong Un has started his train journey from Pyongyang to Hanoi (Vietnam), where he is set to meet with US President Donald Trump next week. The source informed that around 17:00 local time (11:00 Moscow time), the North Korean leader left for Hanoi in an armored train. He is expected to travel all the way to Vietnam by train, passing China. The total distance between Pyongyang and Hanoi surpasses 4,500 kilometers. The North Korean leader’s trip is expected to last for over 48 hours. Earlier, Trump announced that he would meet with Kim Jong Un for the second time in Vietnam's capital Hanoi on February 27-28. The first summit between Kim Jong Un and Donald Trump took place in Singapore on June 12, 2018. The parties signed a joint document, in which Pyongyang committed to denuclearizing the Korean Peninsula in return for US security guarantees. "Real estate, financial shares drag Philippine market" BANGKOK, February 19 -- Philippine stocks fell the most on Tuesday dragged by losses in the real estate and financial stocks, as most of the Southeast Asian equity markets ended lower, while Malaysia gained as investors took positions amid the earnings season. The Philippine index dropped about 1% to its lowest level since Jan 8, dragged by losses in real estate and financial stocks. "The Philippine market right now is in search of a new catalyst and with none in sight, some investors are already choosing to take profit," said Rachelle Cruz, an analyst with AP Securities. BDO Unibank Inc shed 3.2%, while Ayala Land Inc dropped 3.7% to close at its lowest level since Jan 3. "Ayala Corp has $293 million worth of bonds that are exchangeable to shares of ALI and that will mature by that time (in May). Some investors may look to cash in, exerting a downward pressure on ALI's share price," a note from RCBC securities said. Meanwhile, the Malaysian index gained 0.8% to a three-month closing high on the back of materials and utilities. Petronas Chemicals Group Bhd rose 3.9% ahead of its fourth quarter result announcement. Shares of Kuala Lumpur Kepong Bhd strengthened more than 1%, after posting a jump in quarterly net profit. Real estate stocks drove the Vietnam index marginally higher, with Vinhomes JSC and Vingroup JSC rising 6.1% and 2%, respectively. Singapore and Indonesia indexes traded relatively lower. WASHINGTON, February 15 -- Vietnamese airlines will be able to fly to the United States and code share with American carriers after the US Federal Aviation Administration declared the country complies with international safety standards. The US aviation safety agency said in a statement late on Thursday that it was awarding Vietnam a “Category 1” rating, two weeks after Reuters reported the decision was expected. “It’s recognition by a very developed aviation authority which requires a very high standard of safety and security,” Vietnamese Deputy Transport Minister Nguyen Ngoc Dong told Reuters on Friday. There are currently no non-stop flights between Vietnam and the United States, despite a large market catering to tourism and visits by friends and relatives. Vietnam Airlines, Bamboo Airways and VietJet Aviation desire to fly to the United States. Bamboo Airways chairman Trinh Van Quyet said Bamboo was considering destinations such as Seattle, Los Angeles and San Francisco, with the first route to open in late 2020 or early 2021. His airline has ordered 20 Boeing Co 787s for long-haul flights. Capa Centre for Aviation chief analyst Brendan Sobie said the FAA rating was important for Vietnam symbolically and politically. But he said Vietnamese airlines could struggle to make US flights profitable because of the lack of demand from high-paying business travellers. “For Vietnam Airlines, launching routes to the US is our political responsibility as a national airline. Whether or not the route is commercially feasible depends quite a lot on technical issues and aircraft,” the airline said in a statement. Vietnam Airlines said it was in talks with Airbus and Boeing about potential jet purchases for the US route, but the earliest they were expected to arrive was in 2022. In the meantime its existing codeshares with Delta Air Lines could be expanded after the rating. Budget carrier VietJet said it plans to purchase wide-body jets capable of non-stop US flights and believes its experience in keeping costs down will give it an effective business model. “We plan to open routes to cities with Vietnamese communities living in the United States such as in California, serving the large travelling and commercial demand from customers,” VietJet’s vice president To Viet Thang said in a statement. The FAA last year sent a team to Vietnam to conduct a safety assessment. Vietnam’s rapidly growing aviation market saw traffic increase 16% on average each year from 2010 to 2017, government data shows. Its airlines are major customers of Boeing and Airbus. "SET drops, other Asean stock markets rise" BANGKOK, February 14 -- The Stock Exchange of Thailand index ended lower, while other Southeast Asian stock markets closed higher on Thursday as a surprise jump in monthly Chinese trade data brought slight relief amid continued focus on Sino-US talks. The SET index eased 3.09 points or 0.19% to 1,652.64, in turnover of 45.88 billion baht, despite gains in shares of telecom operators. True Corporation jumped 25 satang or 4.81% to 5.45 baht, Advanced Info Service added 2.50 baht or 1.37% to 184.50 and Jasmine International ended 25 satang or 4.24% higher to 6.15 baht. PTT shares however dropped 75 satang or 1.53% to 48.25 baht. The region's biggest trading partner, China, reported better-than-expected trade figures for January, easing some fears of an imminent slowdown in the economic powerhouse. High-level talks between the country and the United States have been a major focal point for markets this week. US President Donald Trump is considering a 60-day extension of the Mar 1 deadline for higher tariffs on Chinese imports, Bloomberg reported on Thursday, citing unnamed sources. The Philippine benchmark firmed 0.9% to snap four consecutive sessions of losses and led the gains among its regional peers. Financial stocks were the biggest boost to the index, with BDO Unibank Inc rising 2.3% to post its best close in nearly 11-months. Asian fast-food giant Jollibee Foods Corp jumped 1.7% and was also among the top gainers on the Philippine benchmark after reporting a rise in fourth-quarter net income. Philippine markets had seen large outflows over the past four sessions as foreign investors rebalanced their portfolios. Meanwhile, the Vietnam stock exchange continued to gain for the fourth straight day, closing 0.8% up, supported by a persisting rally in the country's real estate sector. Property developers Vingroup JSC and Vincom Retail JSC gained 3.6% each. "(The) Vietnamese market has been moving in a positive direction on Wall Street cues. Investor sentiment has also been supported by a possibly positive outcome of the Trump – Kim summit slated for Hanoi later this month," said a stock broker with SSI Securities Corp. "Traditionally, cashflows into the market in Vietnam are often strong in the first quarter of the year as several corporate investors have abundant cash at hands." The Malaysian index ticked up 0.2%, after data showed on Thursday that the country's economy expanded 4.7% in the October-December quarter from a year earlier, in line with expectations, ending four quarters of slowing growth. Singapore's index ended 0.3% higher ahead of a fourth-quarter GDP report due on Friday. The country's economy likely grew at a slower pace than initially estimated as growth in the city-state's manufacturing and services sectors came under strain from slowing demand, a Reuters poll showed. "Energy stocks lead SET gains, Philippine shares continue slide" BANGKOK, Februari 13 -- Thai shares rose on Wednesday, with energy stocks leading broad-based gains, while the Philippine index declined for a fourth consecutive session. Singapore stocks closed at a more than 4-month high, leading the gains in Southeast Asia after US President Donald Trump said he could relax the China trade deal deadline. Trump said on Tuesday that he could let the March 1 deadline to reach a trade agreement "slide for a little while," although he added he was not inclined to do so. However, his remarks spurred a rally in Wall Street overnight, as well as a number of Asian players. The Stock Exchange of Thailand index advanced 13.24 points or 0.81% to 1,655.73, in turnover worth 45 billion baht. Shares of energy stocks were among the largest boosts to the index. PTT Plc added 50 satang or 1.03% to 49 baht. PTT Global Chemical Plc gained 1.75 baht or 2.59% to 69.25 baht and PTT Exploration and Production Plc advanced 2.50 baht or 2.06% to 124 baht. The Philippine index, which has outperformed its peers this year so far, declined for a fourth consecutive session to end 1.1% lower, pressured by industrial and financial stocks. Industrial conglomerate JG Summit Holdings Inc dropped 3.9% and was the top loser on the benchmark, whereas BDO Unibank Inc fell 1.1%. Philippine's latest downturn appears to be a flow driven correction due to international investors reallocating their funds, said Rachelle C Cruz, an analyst with AP Securities. The Singapore index, which has a high trade exposure with China, outpaced its peers for the day with a 1.4% rise, posting its highest close since Oct 3, 2018. Financials bolstered the benchmark with lender United Overseas Bank Ltd jumping 2.5%. The Vietnam benchmark rose for the third day, closing about 0.8% higher, driven by financial and consumer stocks. Malaysian shares ended 0.1% lower ahead of the country's fourth-quarter GDP figures released on Thursday. "SET falls most in Asean region on political uncertainty" BANGKOK, February 11 -- Thai stocks closed lower on Monday, falling most in the Southeast Asia region amid political uncertainty in the country, while Vietnam markets surged as trade resumed after a week-long holiday. The Stock Exchange of Thailand index ended 13.68 points or 0.83% lower to 1,638.00, in turnover worth 40 billion baht. Mobile services provider Advanced Info Service Plc fell seven baht or 3.72% to 181 baht, InTouch Holdings Plc also plunged 2.75 baht or 4.82% to 54.25 baht, SC Asset Corporation Plc dipped 18 satang or 5.70% to 2.98 baht and Thai Com Plc ended 85 satang or 9.83% lower to 7.80 baht. The Election Commission did not approve the nomination of Princess Ubolratana for prime minister by the Thak Raksa Chart Party on Monday, putting an end to the controversial, short-lived candidacy by echoing His Majesty the King's royal command that royalty should be "above politics". His Majesty's royal command came after market hours on Friday. Shares of listed companies associated with, or with a legacy tied to, the Shinawatra clan surged considerably last week before TRC announced its prime ministerial candidate. On the other hand, Vietnam benchmark ended about 1.9% higher as trade resumed after a week-long Lunar New Year holiday. Gains on the benchmark were largely broad-based, with real estate and financial stocks in the lead. The index clocked its best session since early-December, and was at a near 8-week high. Shares of property developer Vingroup gained about 4.3%, while those of Joint Stock Commercial Bank for Foreign Trade of Vietnam ended 2.8% higher. Other Southeast Asian markets traded in a flat-to-low range as markets adopted a wait and see approach with trade negotiations between the United States and China recommencing from Monday. Singapore stocks pared early losses to end largely flat. Liu Jinshu, head of research at Tayrona Financial said there was some resistance emerging above the 3,200 level, particularly due to the market being unable to make significant progress above that level on Friday. Worries over the Chinese economy have cast a shadow over Singapore's prospects, owing to the island nation's large electronic exports to the country. A US delegation arrived in Beijing on Monday to recommence talks, ahead of the March 1 deadline to reach a trade deal. China is Southeast Asia's largest trading partner, and its trade tiff with the US has exacted a heavy toll on the region. "SET ends flat, Malaysia stocks lead losses in Asean" BANGKOK, February 8 -- Thai shares lost slightly on Friday, while Malaysia stocks led losses, as investors were rattled after the United States dismissed the likelihood of a quick resolution to the long drawn Sino-US trade war. US President Donald Trump on Thursday said he would not be meeting China's Xi Jinping before the March 1 deadline, sparking fears that two economies would not be able to clinch a pivotal trade deal. The negative sentiment dampened regional markets and pushed broader Asian shares lower, though trading remained thin as China was closed for Lunar New Year holidays. The Stock Exchange of Thailand index eased 1.43 points or 0.09% to 1,651.68, in turnover worth 56.86 billion baht. The SET index dropped 16 points shortly after the open before it rebounded to end flat. The Malaysian index ended 0.4% lower, falling the most across the region. Index heavyweight Axiata Group Bhd fell 4.4% to an over two-month low, dragging the benchmark. According to local media reports Axiata Group and its unit Ncell are to foot a tax bill of 61 billion Nepalese rupees (US$536.03 million), excluding late fees and fines for the capital gains tax on Ncell buyout deal following a Supreme Court ruling. Philippine stocks fell 0.4%, hurt by losses in financial and telecom stocks. For the week the Manila benchmark index dropped 0.9%, marking its first weekly loss in 2019. PLDT Inc dropped 3.4%, while shares of Bank of the Philippine Islands slid 1.4%. The Indonesian benchmark closed down 0.2%, with material and energy stocks leading declines. The index marked its first weekly loss in the new year, snapping a rally of six weeks. Charoen Pokphand Indonesia Tbk PT dropped 1.9%, while United Tractors Tbk PT slipped 2.9%. Vietnam's financial markets remained closed this week for Lunar New Year holidays. "Indonesia stocks end at 11-month high, SET adds 5 points" BANGKOK, February 6 -- Indonesian stocks surged more than 1% to close at an 11-month high on Wednesday, after the country posted a faster-than- expected GDP growth in the fourth quarter of 2018, while Thai shares added 5.62 points to close above the 1,6500 mark. Indonesia's gross domestic product (GDP) in the final quarter of 2018 expanded 5.18% from a year earlier, compared with 5.11% forecast in a Reuters poll, while for the year the economy grew 5.17%, marking its best in five years. The country's benchmark index ended 1.02% higher, its highest level since March 5, 2018. Telecom and material stocks were the biggest boost to the index, with Telekomunikasi Indonesia (Persero) Tbk Perusahaan Perseroan PT and Unilever Indonesia Tbk PT rising 2.1% and 2%, respectively. The Stock Exchange of Thailand index gained 5.62 points or 0.34% to 1,658.71, in turnover of 38.5 billion baht. The index was driven by financial and material stocks and the Bank of Thailand's decision to hold benchmark interest rates steady. Kasikornbank Plc added 2 baht or 1% to 202 baht and Siam Commercial Bank Plc gained 2.50 baht or 1.89% to 135 baht. Shares of Siam Cement Group Plc firmed 6 baht or 1.29% to 470 baht. Philippine index reversed course and slipped from 10-and-a-half-month high hit earlier in the session to close marginally lower. Industrial stocks dragged the index, with SM Investment Corp and JG Summit Holdings Inc slipping 1.7% and 3.7%, respectively. "I would say it (the reason for the fall) is profit taking for the lack of any news to suggest otherwise," said Charles William Ang, associate analyst at COL financial. He added that good inflation rates had pushed the index earlier in the day. The country's inflation had eased in the month of January, supporting views that the central bank would leave interest rates on hold on at its meeting on Thursday. Malaysia, Vietnam and Singapore stock markets were closed for Lunar New Year holidays. "Gains in financial, energy stocks help SET index rise" BANGKOK, January 31 -- Thai shares rose to a near eight-week closing high on Thursday after gains in the energy and financial sectors. Vietnam and Malaysia shares dropped but other Southeast Asian markets were in the green on the Federal Reserve's dovish outlook. The Fed kept rates at 2.25 % to 2.5 % on Wednesday as widely expected, which are well below historical averages. The US central bank also discarded its promises of "further gradual increases" in interest rates, and said it would be "patient" before making any further moves amid signs of global economic slowdown and a damaging trade war with China. Rising US borrowing costs in 2018 had led to massive capital flight from emerging markets, prompting regional central banks to hike rates to reduce the rate differential and combat a stronger US dollar. "Markets clearly like the newly dovish Fed, which had exceeded expectations for dovishness in the midst of a positive output gap and tight labour market," Mizuho Bank said in a client note. The Stock Exchange of Thailand index added 9.13 points or 0.56% to 1,641.72, in turnover worth 57 billion baht. Kasikornbank topped the most active stock. KBANK jumped 7 baht or 3.63% to 200 baht, Bangkok Bank gained 4 baht or 1.90% to 215 baht and Siam Commercial Bank closed at 133 baht, up 2 baht or 1.53%. PTT Plc added 25 satang or 0.52% to 48.50 baht and PTT Global Chemical ended 50 satang or 0.74% higher to 68 baht. Indonesian shares jumped 1.1%, boosted by financial and industrial stocks. The index rose 5.5% in January in its third straight monthly gain. Bank Central Asia and Unilever Indonesia gained about 2% and 1.9%, respectively. An index of the country's top 45 liquid stocks climbed 1.5% to its highest since April 2018. Philippine shares closed 0.3% higher after gaining as much as 1.5% earlier in the session. The benchmark stock index pared its gains after the central bank said January annual inflation is likely to settle within a range of 4.3% to 5.1%, above its target of 2-4% for 2019. Surging inflation had dented consumption and put pressure on the peso in 2018, prompting Bangko Sentral ng Pilipinas to hike its benchmark rate five times. The Philippine stock index added 7.3% in January, in its sharpest monthly gain since March 2016. Vietnam shares ended 0.6% lower, while Malaysian shares retreated from early gains to close flat. Maritime Rescue Center opened on South China Sea islet as Beijing seeks to reinforce claims30/1/2019 TOKYO, January 30 -- China opened a maritime rescue center on one of its man-made islands in the disputed South China Sea on Tuesday, state-run media reported, as Beijing seeks to reinforce its claims in the strategic waterway. China’s Ministry of Transport opened the rescue center on Fiery Cross Reef, which is also claimed by Taiwan, Vietnam and the Philippines, “to better protect navigation and transport safety in the South China Sea,”. It quoted the ministry as saying the center “will offer better support to maritime rescue operations in the southern part of the South China Sea” near the Spratly chain. Beijing has built up a series of military outposts in the South China Sea, which includes vital sea lanes through which about $3 trillion in global trade passes each year. The Philippines, Vietnam, Malaysia, Taiwan and Brunei have overlapping claims. As part of what some experts say is a concerted bid to cement de facto control of the South China Sea, three of Beijing’s man-made islets in the Spratlys — Fiery Cross, Subi and Mischief reefs — all boast military-grade airfields. Recent reports have also said the islets, including Fiery Cross, have emplacements for missiles, extensive storage facilities and a range of installations that can track satellites, foreign military activity and communications. In a bid to offset concerns over the militarization of these islets, China has consistently said the facilities there are for defensive purposes and that the islands themselves are civilian and will provide navigational services to ships in the vicinity. But some observers have expressed concern that the moves could help boost Beijing’s claim of sovereignty over the islets. These moves have seen China build ecological conservation and restoration facilities and marine observation centers on Fiery Cross, Subi and Meiji Reefs. Xinhua has said that the facilities were “providing public services, including marine forecasts and disaster alarms, to the international society and passing vessels.” In late July, China announced that it would permanently station a search-and-rescue ship at Subi Reef, the largest of China’s seven man-made outposts in the Spratlys and home to a lighthouse and extensive docking facilities. In October, another rescue ship was sent to the region to replace the vessel. BANGKOK, January 9 -- The Stock Exchange of Thailand index ended marginally lower on Wednesday, snapping three straight sessions of gains, dragged by healthcare stocks. Other Southeast Asian stock markets closed mixed, with Philippines rising nearly 3%, on rising optimism that talks between China and the United States could end a months-long trade war between the world's top two economies. Chinese and US teams ended trade talks in Beijing on Wednesday that lasted longer than expected, with China's Foreign Ministry spokesman Lu Kang saying that the longer-than-expected negotiations suggested the countries were serious in talks. "Sentiment across the region is improving due to the current talks between US and China, as investors are already buying back their positions in the market in expectation of positive results," said Rachelle Cruz, an analyst with AP Securities. The SET index ended 1,590.50 at the close, easing 3.50 points or 0.22%, in turnover worth 46 billion baht. Bangkok Dusit Medical Services Plc slumped two baht or 8.10% to close at 22.70, Bumrungrad Hospital Plc lost 16.50 baht or 8.57% to end at 176 baht, and Bangkok Chain Hospital Plc dropped 60 satang or 3.66% to 15.80 baht. Philippine shares closed 2.8% higher, posting their sharpest gain since Sept 21, 2018 and their highest close in nine months, supported by industrials. Conglomerates SM Investments Corp and JG Summit Holdings Inc advanced 6.1% and 5.9%, respectively. "Foreign investors are coming back to the Philippine markets since the macro concerns have partly improved and the currency has strengthened against the dollar," said Cruz. Foreign investors have invested a net US$75.53 million in equities so far this year after offloading $1.08 billion last year. Last week, government data showed that inflation cooled more than expected in December. The market now awaits trade data for November due this week for further clues about the economy. Singapore stocks climbed 1.1%, extending gains into a fourth session. Jardine Matheson Holdings Ltd, the index's largest company by market value, rose 1.9%, while DBS Group Holdings Ltd gained 1.4%. Vietnam shares advanced over 1%, boosted by financial and real estate stocks. Joint Stock Commercial Bank for Investment and Development of Vietnam rose 3.1%, while Vincom Retail JSC gained 5.3%. |
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