July 12, 2018 / 4:14 AM / a month ago

SE Asia Stocks-Edge higher; Philippines hits near 1-month high

    * Philippines set for third straight gaining session
    * Malaysia, Indonesia set for 4-day gaining streak
    * Vietnam touches 8-month low, but recoups losses

    By Karthika Suresh Namboothiri
    July 12 (Reuters) - Most Southeast Asian stock markets edged
higher on Thursday, with the Philippines touching a near
one-month high and Indonesia extending gains for a fourth
session, as broader Asian peers recovered slightly from the
previous session's steep losses.
    Asian shares outside Japan rose 0.3 percent,
erasing early losses, as negative sentiment over mounting
U.S.-China trade tensions eased. 
    "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," Taye Shim,
head of research at Jakarta-based Mirae Asset Sekuritas.
    Philippine shares extended gains to a third session,
rising 0.5 percent to their highest since June 18.
    Real estate company Ayala Land was up as much as
2.6 percent, while Bank of the Philippine Islands
gained 3.4 percent.
    Indonesian shares climbed for a fourth consecutive
session, up 0.6 percent. 
    Financials led the charge, with Bank Central Asia
up 2.5 percent and Bank Mandiri (Persero) Tbk up as
much as 0.8 percent.
    The index of the country's 45 most liquid stocks
climbed 0.6 percent.
    Singapore stocks inched 0.3 percent higher. United
Overseas Bank Ltd gained over 1 percent, while
casino-operator Genting Singapore was up as much as
3.3 percent.
    The city-state's economy likely expanded at a slower pace in
the second quarter, with advance gross domestic product (GDP)
forecast to rise 4.0 percent in April-June from a year earlier.
The government's estimate is expected to be released on Friday.

    Thai shares gained 0.5 percent, with gains in
materials stocks outweighing strong losses in the energy sector.
    Siam cement was up 1.9 percent, while PTT Public Co
 slipped 1.6 percent.
    Malaysian shares gained 0.4 percent, climbing for a
fourth consecutive session. 
    Banks boosted the index as Public Bank Bhd and
Malayan Banking Bhd up 0.6 percent and 1.8 percent,
respectively.
    Vietnam stocks slipped to their lowest in nearly
eight months, but recouped the losses and were trading
marginally higher.
      
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0412 GMT
    
 Market             Current   Previous close  Pct Move
 Singapore          3252.45   3249.08         0.10
 Bangkok            1645.03   1636.63         0.51
 Manila             7359.52   7333.73         0.35
 Jakarta            5927.428  5893.359        0.58
 Kuala Lumpur       1694.82   1688.77         0.36
 Ho Chi Minh        894.79    893.16          0.18
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3252.45   3402.92         -4.42
 Bangkok            1645.03   1753.71         -6.20
 Manila             7359.52   8558.42         -14.01
 Jakarta            5927.428  6355.654        -6.74
 Kuala Lumpur       1694.82   1796.81         -5.68
 Ho Chi Minh        894.79    984.24          -9.09
 
 (Reporting by Karthika Suresh Namboothiri; Additional reporting
by Aditya Soni; Editing by Amrutha Gayathri)
  
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