SE Asian markets edge higher in line with broader Asia

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(July 12): Southeast Asian stock markets closed marginally higher on Thursday, tracking a slight recovery in broader Asia and as upbeat economic data boosted sentiment.

Asian shares outside Japan climbed 0.4% as markets tried to consolidate from the previous session's steep losses when fears of an escalation in the US-China trade war jolted investor sentiment.

"The US-China trade conflict has been gaining heavy headlines for some time now. So basically I think most of the investment negatives have been baked into the cake," said Taye Shim, head of research at Jakarta-based Mirae Asset Sekuritas.

Philippine shares ticked up and posted their highest close in more than three weeks with financials leading the gains.

Ayala Corp rose 3% and Bank of the Philippine Islands climbed 2%.

Singapore shares advanced with casino operator Genting Singapore rising 3.3% and United Overseas Bank Ltd gaining 0.3%.

Malaysian shares rose 0.9% to their highest close in three weeks. Bankers CIMB Group Bhd closed 4.7% higher, while Malayan Banking Bhd gained nearly 4%.

Malaysia's industrial production index rose 3% in May from a year earlier, supported by gains in the manufacturing and electricity generation sectors, government data showed.

Vietnam stocks closed 0.6% higher, snapping three consecutive sessions of declines and recovering from an eight-month low hit earlier in the session.

Thai shares rose for a fourth session in five, with Energy Absolute PCL climbing 5.6% and Siam Cement gaining 0.5%.

The country's exports are expected to increase 9% this year, more than the previous forecast, the commerce minister said.

SOUTHEAST ASIAN STOCK MARKETS
Change on the day

Market             Current   Previous close  % move
Singapore          3253.01   3249.08         0.12
Bangkok            1640.93   1636.63         0.26
Manila             7350.58   7333.73         0.23
Jakarta            5907.872  5893.359        0.25
Kuala Lumpur       1703.57   1688.77         0.88
Ho Chi Minh        898.51    893.16          0.60

Change on year

Market             Current   End 2017        % move
Singapore          3253.01   3402.92         -4.41
Bangkok            1640.93   1753.71         -6.43
Manila             7350.58   8558.42         -14.11
Jakarta            5907.872  6355.654        -7.05
Kuala Lumpur       1703.57   1796.81         -5.19
Ho Chi Minh        898.51    984.24          -8.71