(June 26): Philippine shares closed higher for the first time in nine sessions on Tuesday, driven mainly by industrial and real estate stocks, while Indonesian shares fell for a fifth session in six.
The Philippine Stock Exchange PSEi Index rose 0.3% with industrial conglomerate JG Summit Holdings closing 3.8% higher, while property developer SM Prime Holdings Inc gained 1.4%.
Singapore stocks recovered from an early fall to close 0.6% higher, helped largely by a turnaround in financials. Oversea-Chinese Banking Corp Ltd rose 0.7%.
The island state's industrial production in May accelerated 11.1% from a year earlier, bolstered by higher output in pharmaceutical and electronics sectors. A jump in manufacturing output bodes well for Singapore's economy, which depends chiefly on exports.
Among losers, Indonesian shares closed 0.6% lower, dragged largely by financials. Bank Central Asia ended 3.7% lower, while Bank Negara Indonesia closed at a one-month low.
The central bank is likely to raise its key interest rate when it meets this Friday, as the country looks to stabilise the fragile rupiah, a Reuters poll showed.
Vietnam shares ended about 0.8% lower, weighed down by financials and consumer staples. Insurer BaoViet Holdings fell 3.1%, while Vietnam Dairy Products JSC ended 1.8% lower.
Meanwhile, MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4%.
"Asian bourses are likely to remain handicapped in trading for the near-term, as investors prefer to de-risk into the heightened global trade war uncertainties and thinner summer trading conditions," OCBC said in a research note.
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
|Market||Current||Previous close||Pct Move|
|Ho Chi Minh||983.02||990.52||-0.76|
Change on year
|Market||Current||End 2017||Pct Move|
|Ho Chi Minh||983.02||984.24||-0.12|