SE Asia Stocks-Most recover; U.S. economic data, Wall Street help
Sept 3 (Reuters) - Most Southeast Asian stock markets recovered from recent losses on Thursday in cautious buying following overnight gains on Wall Street and positive U.S. economic data, with concerns about slowing economic growth in China capping gains. Singapore traded 0.7 percent firmer after posting a one-week closing low on Wednesday, while Malaysia rose 0.8 percent. Indonesia's Jakarta Composite Index recovered from a one-week low hit in the previous session and was trading 0.5 percent higher. Thailand rose as much as 1 percent to its highest since Aug. 18, while the Philippine index gained 0.4 percent. "Wall Street had a positive day overnight but the jury is still out whether this is sustainable given the recent swings. The Fed's fairly positive Beige Book report and ADP's firm payroll numbers added to the sentiment," Singapore-based Net Research Asia said in an investor note. On Wednesday, U.S payroll processor ADP reported that private payrolls increased 190,000 last month. While that was below economists' expectations for a gain of 201,000 jobs, it was a step up from the 177,000 positions created in July. The U.S. Federal Reserve said on Wednesday labour markets were tight enough to fuel small wage gains in some professions in recent weeks, though some companies already were feeling a chill from an economic slowdown in China. Chinese markets were closed for a holiday, which also calmed the markets. Bucking the trend, Vietnam's benchmark VN Index fell 1.4 percent, on track for its third straight decline, with most blue chips losing ground. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0642 GMT Market Current Prev Close Pct Move Singapore 2897.36 2878.13 +0.67 Kuala Lumpur 1602.64 1590.19 +0.78 Bangkok 1382.06 1372.45 +0.70 Jakarta 4423.33 4401.29 +0.50 Manila 7097.28 7072.46 +0.35 Ho Chi Minh 554.73 562.31 -1.35 (Reporting by Shihar Aneez; Editing by Subhranshu Sahu)
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