July 9, 2018 / 9:52 AM / 3 months ago

SE Asia Stocks-Most markets rise in line with broader Asia; Indonesia up 2 pct

    * Singapore climbs 1.2 pct, Thailand gains 0.5 pct
    * Philippine's Metropolitan Bank hits 1-1/2-yr low

    By Karthika Suresh Namboothiri
    July 9 (Reuters) - Most Southeast Asian stock markets closed
higher on Monday, with Indonesia rising 2 percent, as broader
Asian shares rallied after weeks of losses amid worries over a
trade war between the United States and China.
    Asian shares also took heart from favourable U.S. jobs data
that underscored the economy's strength, and China's efforts to
attract more foreign capital and cushion its economy following
the implementation of U.S. tariffs on Chinese imports last week.

    "Lately we've seen some recovery in the Chinese market,
given the fact that it has lost substantially over the past few
weeks. This has also boosted sentiment in the regional markets,"
said Manny Cruz, an analyst with Asiasec Equities Inc.
    China's securities regulator said on Sunday it plans to ease
restrictions on foreign investment in stocks listed on the
Shanghai or Shenzhen exchanges.
    The Shanghai Composite Index ended 2.5 percent
higher, its biggest one-day rise since May 2016, while the
blue-chip CSI300 Index finished up 2.8 percent, its
best since August 2016.
    In Southeast Asia, Indonesian shares jumped to a
near two-week closing high, boosted by financials. Bank Central
Asia soared 4.7 percent.
    Singapore shares climbed 1.2 percent, boosted by
financials. DBS Group Holdings rose 1.4 percent, while
United Overseas Bank Ltd gained 1 percent.
    Thai shares closed 0.5 percent higher, extending
gains into a second session. 
    PTT Public Company ended 1.6 percent and PTT
Exploration and Production jumped over 3 percent as
global oil prices rose on potentially tight market conditions.

    Malaysian shares climbed 0.5 percent with
telecommunication services provider Axiata Group
ending 5.7 percent higher.
    Meanwhile, Philippine shares ended flat with losses
in consumer stocks offseting gains in financials and
industrials.
    SM Investment rose 1.3 percent, while Metropolitan
Bank & Trust Co fell to its lowest close in
one-and-a-half years. 
    Vietnam shares erased early gains to closed 0.3
percent lower.    
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3228.82   3191.82         1.16
 Bangkok            1622.96   1614.76         0.51
 Manila             7186.62   7186.71         0.00
 Jakarta            5807.375  5694.912        1.97
 Kuala Lumpur       1672.63   1663.86         0.53
 Ho Chi Minh        915.12    917.51          -0.26
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3228.82   3402.92         -5.12
 Bangkok            1622.96   1753.71         -7.46
 Manila             7186.62   8558.42         -16.03
 Jakarta            5807.375  6355.654        -8.63
 Kuala Lumpur       1672.63   1796.81         -6.91
 Ho Chi Minh        915.12    984.24          -7.02
 
 (Reporting by Karthika Suresh Namboothiri; Editing by
Subhranshu Sahu)
  
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