SE Asia Stocks-Close higher as post-Brexit rebound continues
By Krishna V Kurup June 30 (Reuters) - Most Southeast Asian markets closed higher on Thursday, tracking regional peers, as markets shrugged off the impact of Britain's stunning vote to leave the European Union. MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.5 percent at 0900 GMT, pulling further away from a one-month low hit on Friday. The index has dropped about 0.8 percent in the April-June quarter. Singapore shares rose 1.7 percent, helped by consumer service providers. The index posted its biggest intra-day percentage gain since Oct. 2011. Singapore's total bank lending in May rose from April on stronger demand for manufacturing loans, central bank data showed on Thursday. United Overseas Bank gained 2.6 percent after the city-state's number 3 lender suspended its loans programme for London properties in the wake of Brexit. The Singapore index has shed 1.5 percent during the first half of the year. Vietnam's benchmark index hit a 11-month high during the session, led by healthcare shares, before closing up 0.3 percent. Dhg Pharmaceutical Joint-Stock Co gained 4.6 percent. Sentiment improved following rebounds across global markets and as funds boosted prices of Vietnamese shares to improve their end-June portfolio performance, analysts said. Analysts expect stocks to retreat in the next few sessions as the index approaches a historically strong resistance level of 640 points and on a lack of supportive news. The Philippine index erased early gains of as much as 2.3 percent to end marginally lower. Philippine stocks were up earlier in the session on Rodrigo Duterte's inauguration as president. However, when the market approached 8,000 points, "there was strong resistance. Eventually, the market corrected in the afternoon," said an analyst with SB Equities. "It went up too high, too fast." However, the index has gained 7.4 percent in the April-June quarter. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on day Market Current Prev close Pct Move Singapore 2840.93 2792.73 1.73 Bangkok 1444.99 1442.66 0.16 Manila 7796.25 7798.53 -0.03 Jakarta 5016.647 4980.105 0.73 Kuala Lumpur 1654.08 1642.21 0.72 Ho Chi Minh 632.26 630.12 0.34 Change on year Market Current End 2015 Pct Move Singapore 2840.93 2882.73 -1.45 Bangkok 1444.99 1288.02 12.19 Manila 7796.25 6952.08 12.14 Jakarta 5016.647 4593.008 9.22 Kuala Lumpur 1654.08 1692.51 -2.27 Ho Chi Minh 632.26 579.03 9.19 (Reporting by Krishna V Kurup in Bengaluru; Additional reporting by Mai Nguyen from Hanoi; Editing by Sunil Nair)
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