Rise; Philippines jumps 2%

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(July 26): Southeast Asian stock markets rose on Thursday, in line with broader Asia after U.S. President Donald Trump and European Commission President Jean-Claude Juncker agreed to begin talks to lower tariffs, easing immediate concerns about worsening global trade tensions.

The European Commission and the United States agreed to work together to slash industrial tariffs on both sides and increase U.S. exports of liquefied natural gas and Soybeans to Europe, among others.

This boosted investor risk appetite which has been muted lately on concerns over a full-blown trade war.

"Regional markets are higher today after the U.S. and Europe agreed to sign a trade pact agreement, which eased trade war concerns," said Lexter Azurin, an analyst with AB Capital Securities.

Asian shares ex-Japan reflected the positive sentiment and rose for a third straight session, up by 0.1%.

Philippine shares rose 2% to a six-week high, extending gains into a third session. All sectors traded in positive territory with industrials leading the gains.

SM Investments Corp and SM Prime Holdings were the top contributors, rising 1.7% and 2.5% respectively, ahead of earnings.

The market has gained on anticipation of solid second-quarter earnings which are due over the next few weeks, said Lexter.

The market rose as much as 2.3% on Wednesday, after the International Monetary Fund said the country was likely to sustain economic growth of 6.7% this year and in 2019.

Thai shares gained as much as 0.7%, boosted by energy and financial stocks.

PTT PCL and PTT Exploration and Production PCL were among the top boosts, up about 1% and 1.5% respectively.

Singapore shares inched higher, with gains in financials outweighing losses in telecommunication stocks.

Gains in Oversea-Chinese Banking Corp, United Overseas Bank and DBS group Holdings helped the benchmark stock index trade higher for a sixth session in eight. 

Indonesian shares gained up to 0.6% on the back of financials, while Malaysian stocks edged higher on utilities.    

SOUTHEAST ASIAN STOCK MARKETS as at 0351 GMT 

Market Current Previous close Pct Move
Singapore 3329.82 3326.83 0.09
Bangkok 1700.6 1690.08 0.62
Manila 7657.77 7514 1.91
Jakarta 5953.813 5933.889 0.34
Kuala Lumpur 1765.14 1763.78 0.08
Ho Chi Minh 923.56 927.58 -0.43

Change on year

Market Current End 2017 Pct Move
Singapore 3329.82 3402.92 -2.15
Bangkok 1700.6 1753.71 -3.03
Manila 7657.77 8558.42 -10.52
Jakarta 5953.813 6355.654 -6.32
Kuala Lumpur 1765.14 1796.81 -1.76
Ho Chi Minh 923.56 984.24 -6.17