SE Asia Stocks - Singapore trims gains on Q2 GDP; Indonesia up before rate decision
BANGKOK, July 14 (Reuters) - Southeast Asian stock markets eked out more gains on Tuesday as Greece's debt deal lifted sentiment in the region while stocks in Singapore erased most early gains as investors weighed in the risk of weaker-than-expected economic growth. Singapore's key Straits Times Index edged up 0.03 percent as real estate shares, including Capitaland Mall Trust , gained, overshadowing losses in large-caps such as Singapore Telecommunications Ltd. Singapore's economy unexpectedly contracted in the second quarter as sluggish global demand knocked the city-state's manufacturing sector, dimming the outlook as growth in key trade partner China continues to cool. Jakarta's composite index was up 0.5 percent ahead of the central bank's decision on its benchmark interest rate. Analysts in a Reuters poll expected the rate to be maintained at 7.5 percent Thailand's SET index was up 0.1 percent as builders rallied on hopes the cabinet would approve large-scale projects but index heavyweight banks fell on expectations of weak quarterly results, brokers said. "Despite improved global factors, Thai fundamentals remain weak in the near-term and could cap the magnitude of recovery," strategists at broker KGI Securities wrote in a report. Asian shares rose on Tuesday on hopes Greece's conditional bailout agreement would bring to an end that country's debt crisis, though caution kept broad gains in check. Indexes in Malaysia and the Philippines rose for a fourth day. Vietnam climbed at one point to the highest since Sept. 9. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0552 GMT Market Current Prev Close Pct Move Singapore 3312.18 3311.22 +0.03 Kuala Lumpur 1724.50 1716.11 +0.49 Bangkok 1492.46 1490.65 +0.12 Jakarta 4919.09 4893.92 +0.53 Manila 7546.08 7496.33 +0.66 Ho Chi Minh 635.01 634.06 +0.15 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)
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