* Philippine index reverses early losses to end 0.4% up * Vietnam shares hit near 2-week low * Indonesian stocks hit highest level since Nov. 6 By Shruti Sonal Dec 17 (Reuters) - Philippine shares reversed from an over two-month low to end higher on Tuesday as investors picked up beaten down stocks, while the Indonesian benchmark rose on gains in financial and energy sectors. Sentiment has been strained in Philippines after its water regulator cancelled the extension of concession deals with the country's two largest utilities Manila Water Co Inc and Maynilad Water Services last week. "A drop in utilities for the last two weeks has been significant... reversal of losses indicate bargain hunting for some of the players in the market," said Charles William Ang, associate analyst at COL Financial Group, Inc. Metro Pacific Investments, a major shareholder of Maynilad Water Services, which slumped about 18% last week, ended 4.6% higher on Tuesday. Easing trade tensions between Washington and Beijing hurt sentiment in Vietnam, sending its shares to their lowest in nearly two weeks. Vietnam has emerged as an alternative manufacturing hub to China for major U.S. firms to avoid tariffs on their U.S.-bound goods. Hoang Minh Finance Investment JSC dived 7%, while Cotec Investment and Land House Development JSC shed over 6%. The Indonesian benchmark rose for a third session to hit its highest since Nov. 6. PT Bank Central Asia Tbk gained 2.2%, while Bayan Resources surged over 13%. Malaysian stocks gained 0.5%, supported by gains in telecom and healthcare stocks. Maxis Bhd gained 2.6% and IHH Healthcare Bhd rose 1.9%. Meanwhile, investors in other Southeast Asian markets awaited further clarity on the interim trade deal between the United States and China. U.S. National Economic Council Director Larry Kudlow said late on Monday that the "phase-one" trade deal has been "absolutely completed". Chinese officials, however, have been more cautious, emphasizing that the trade dispute has not been completely settled. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Market Current Previous close Pct Move Singapore 3200.8 3206.09 -0.16 Bangkok 1548.65 1549.74 -0.07 Manila 7730.45 7701.6 0.37 Jakarta 6244.352 6211.592 0.53 Kuala Lumpur 1576.95 1569.35 0.48 Ho Chi Minh 954.03 961.47 -0.77 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3200.8 3068.76 4.30 Bangkok 1548.65 1563.88 -0.97 Manila 7730.45 7,466.02 3.54 Jakarta 6244.352 6,194.50 0.80 Kuala Lumpur 1576.95 1690.58 -6.72 Ho Chi Minh 954.03 892.54 6.89 (Reporting by Shruti Sonal in Bengaluru; editing by Uttaresh.V)
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