July 12, 2018 / 9:57 AM / 4 months ago

SE Asia Stocks-Markets edge higher in line with broader Asia

    * Malaysia, Indonesia rise for fourth session
    * Vietnam hits 8-mth low before bouncing back

 (Updates Thailand closing figures)
    By Karthika Suresh Namboothiri
    July 12 (Reuters) - Southeast Asian stock markets closed
marginally higher on Thursday, tracking a slight recovery in
broader Asia and as upbeat economic data boosted sentiment.
    Asian shares outside Japan climbed 0.4
percent as markets tried to consolidate from the previous
session's steep losses when fears of an escalation in the
U.S.-China trade war jolted investor sentiment.
    "The U.S.-China trade conflict has been gaining heavy
headlines for some time now. So basically I think most of the
investment negatives have been baked into the cake," said Taye
Shim, head of research at Jakarta-based Mirae Asset Sekuritas.
    Philippine shares ticked up and posted their highest
close in more than three weeks with financials leading the
gains. 
    Ayala Corp rose 3 percent and Bank of the Philippine
Islands climbed 2 percent.
    Singapore shares advanced with casino operator
Genting Singapore rising 3.3 percent and United
Overseas Bank Ltd gaining 0.3 percent.
    Malaysian shares rose 0.9 percent to their highest
close in three weeks. Bankers CIMB Group Bhd closed
4.7 percent higher, while Malayan Banking Bhd gained
nearly 4 percent.
    Malaysia's industrial production index rose 3 percent in May
from a year earlier, supported by gains in the manufacturing and
electricity generation sectors, government data showed.

    Vietnam stocks closed 0.6 percent higher, snapping
three consecutive sessions of declines and recovering from an
eight-month low hit earlier in the session.
    Thai shares rose for a fourth session in five, with
Energy Absolute PCL climbing 5.6 percent and Siam Cement
 gaining 0.5 percent.
    The country's exports are expected to increase 9 percent
this year, more than the previous forecast, the commerce
minister said.
    
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SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3253.01   3249.08         0.12
 Bangkok            1640.93   1636.63         0.26
 Manila             7350.58   7333.73         0.23
 Jakarta            5907.872  5893.359        0.25
 Kuala Lumpur       1703.57   1688.77         0.88
 Ho Chi Minh        898.51    893.16          0.60
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3253.01   3402.92         -4.41
 Bangkok            1640.93   1753.71         -6.43
 Manila             7350.58   8558.42         -14.11
 Jakarta            5907.872  6355.654        -7.05
 Kuala Lumpur       1703.57   1796.81         -5.19
 Ho Chi Minh        898.51    984.24          -8.71
 

 (Reporting by Karthika Suresh Namboothiri; Additional reporting
by Aditya Soni
Editing by Subhranshu Sahu)
  
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