BENGALURU (Aug 22): Philippine shares resumed trade on Wednesday on a firm note after a holiday, led by real estate stocks, while gains in financials and energy pushed the Thai index higher.
Asian shares ex-Japan were trading 0.25% higher after the benchmark S&P 500 touched a record high on Tuesday, buoyed by strong earnings reports in the consumer sector and relative calm in the trade dispute between the United States and China.
Blue-chips Ayala Land and SM Prime Holdings, up around 2% each, were among the top gainers on the Philippine index which was down more than 1% in the previous session. Food & beverage products maker Universal Robina Corp jumped nearly 4%.
SM Prime Holdings, the biggest boost to the benchmark, partially confirmed a media article about its three-year expansion plans.
Thai shares edged higher, with oil & gas explorer PTT Exploration and Production gaining 0.7% and lender Kasikornbank rising nearly 1%.
Thailand's customs-cleared annual exports in July grew slightly from the previous month, commerce ministry data showed on Wednesday. However, the growth in exports was below forecasts.
The country recorded a trade deficit of US$0.52 billion in July, compared with June's US$1.58 billion surplus, official data showed.
Vietnam shares were up 0.7%, helped by gains in financials.
Financial markets in Singapore, Malaysia and Indonesia were closed for a national holiday.
SOUTHEAST ASIAN STOCK MARKETS: AS AT 0359GMT
Change on the day
|Market||Current||Previous close||% move|
|Ho Chi Minh||986.31||979.21||0.73|
Change on year
|Market||Current||End 2017||% move|
|Ho Chi Minh||986.31||984.24||0.21|