July 13, 2018 / 10:16 AM / 7 days ago

SE Asia Stocks-Extend gains; Malaysia climbs 1 pct

    * Philippines touches near 1-month closing high
    * Malaysia, Singapore post 1st wkly gain in five
    * Vietnam posts fifth straight weekly decline

    By Karthika Suresh Namboothiri
    July 13 (Reuters) - Southeast Asian stock markets rose
further on Friday, with Malaysia adding 1 percent and Indonesia
posting its highest close in more than one month, in the absence
of any fresh developments in the U.S.-China trade spat.
    China has vowed to retaliate to the new tariffs, but the
lack of a specific response has likely sparked a global relief
rally.       
    "The broader market continues to remain in a wait-and-see
mode for further details on how China might retaliate on trade,
while equity markets continue to press higher under the guise
that 'no escalating news is good news'," Stephen Innes, head of
trading for Asia pacific at Oanda, said in a note.
    Meanwhile, data showed Chinese exports to the United States
surged in June, a result that could further inflame trade
tensions with Washington.
    Malaysian shares closed higher for a fifth straight
session and posted their first weekly gain in five. The
benchmark stock index rose 3.5 percent this week, the sharpest
since early October 2015.    
    Dialog Group Bhd jumped 6.1 percent on Friday,
while electricity provider Tenaga Nasional Bhd was up
1.1 percent.
    Indonesian shares extended gains into a fifth
session and snapped three consecutive weekly falls.
    United Tractors climbed over 3.3 percent and Bank
Negara Indonesia rose 3.2 percent.
    Philippine shares rose for a fourth consecutive
session with JG Summit gaining 3.7 percent and SM Prime
Holdings climbing 1.5 percent.
    Singapore shares edged higher with DBS Group Holdings
 rising 1 percent and Jardine Strategic Holdings
 gaining 1.6 percent.
    For the week, the benchmark stock index climbed 2.1 percent,
snapping four straight weekly declines. 
    Singapore's economic growth eased in the second quarter,
missing forecasts, as manufacturing activity cooled and
worsening trade tensions between the world's two largest
economies clouded the outlook for the trade-reliant city-state.

    Vietnam shares closed 1.3 percent higher, buoyed by
financials including Vietcombank, but posted their 
fifth straight weekly drop.
    
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SOUTHEAST ASIAN STOCK MARKETS    
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3260.35   3253.01         0.23
 Bangkok            1643.52   1640.93         0.16
 Manila             7399.18   7350.58         0.66
 Jakarta            5944.074  5907.872        0.61
 Kuala Lumpur       1721.93   1703.57         1.08
 Ho Chi Minh        909.72    898.51          1.25
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3260.35   3402.92         -4.19
 Bangkok            1643.52   1753.71         -6.28
 Manila             7399.18   8558.42         -13.55
 Jakarta            5944.074  6355.654        -6.48
 Kuala Lumpur       1721.93   1796.81         -4.17
 Ho Chi Minh        909.72    984.24          -7.57
 
 (Reporting by Karthika Suresh Namboothiri; Editing by
Subhranshu Sahu)
  
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