SE Asia Stocks -Most rebound; banks lead gains in Singapore
BANGKOK, June 30 (Reuters) - Most Southeast Asian stock markets rose on Tuesday, with banks leading the rebound in Singapore after a loan growth in May, while Thai shares extended losses for a third session after a fall in monthly factory output and ahead of a market holiday. Singapore's key Straits Times Index was up 1.22 percent, recouping some of the 2.2 percent loss over the past three sessions. It is on track to post a quarterly drop of 3.7 percent, the first loss in six quarters. Shares of top three lenders by value -- DBS Group Holdings , United Overseas Bank and Oversea-Chinese Banking Corporation -- all rebounded from the falls on Monday when Greek debt concerns prompted selling in the region. Data released early on Tuesday showed the city-state's total bank lending grew in May for the first time in four months on stronger demand for credit for general commerce and financial institutions. The Thai SET index was down 0.4 percent at 1,504.91, taking the loss since Friday to almost 1 percent and heading for a quarterly fall of 0.5 percent, reversing the gain of the previous quarter. The Thai market will be closed on Wednesday for financial market's mid-year closing day. Trading will resume on Thursday. Thai factory output fell more than expected in May, dashing hopes for a quick recovery of the domestic economy and prompting selling in banking and industrial shares, among economic proxies, brokers said. Shares of lender Kasikornbank, the most actively traded, were down 1.8 percent at a four-week low and industrial conglomerate Siam Cement fell 1.2 percent to a more than two-month low. Brokers in Bangkok expected the Greek debt uncertainty to be a key market drag. "We believe the SET will remain volatile and expect it to move in a range of 1,495-1,520, depressed by the Greek situation," strategists at broker Maybank Kim Eng Securities wrote in a note to clients. Stocks in Malaysia, Indonesia and the Philippines were all heading for a quarterly fall. Vietnam is set for a quarterly gain, bucking the trend. Asian shares held near five-month lows on Tuesday after Chinese stocks took another leg down while safe-haven assets received a boost as investors nervously awaited further developments in the deepening euro zone crisis. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0612 GMT Market Current Prev Close Pct Move Singapore 3320.17 3280.18 +1.22 Kuala Lumpur 1707.48 1691.92 +0.92 Bangkok 1504.91 1511.19 -0.42 Jakarta 4920.04 4882.58 +0.77 Manila 7552.27 7567.38 -0.20 Ho Chi Minh 597.12 591.75 +0.91 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
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