July 17, 2018 / 10:03 AM / 4 months ago

SE Asia Stocks-Most edge up as oil recovers; Malaysia ends at 1-mth high

    * Malaysia gains for seventh session
    * Vietnam closes at 2-week high
    * Thailand ends at 1-week low

    By Karthika Suresh Namboothiri
    July 17 (Reuters) - Most Southeast Asian stock markets
inched higher on Tuesday, briefly sidelining trends in broader
Asia that remained subdued before Federal Reserve Chairman
Jerome Powell's testimony to the U.S. Congress.
    Powell is likely to reiterate the Fed's stance towards
gradual monetary policy tightening, and market focus will be on
his views on recent trade tensions.
    A recovery in oil prices that had slumped to three-month
lows in the previous session also helped boost sentiment.
    Malaysia's stock index extended gains to a seventh
session, closing at a one-month high. Mobile communication
service provider Digi.Com Bhd rose 7.5 percent. 
    Singapore stocks climbed, with Singapore Airlines Ltd
 up 3.6 percent and Singapore Press Holdings
hitting a one-year closing high.
    The city-state's non-oil domestic exports rose less than
expected in June, hurt by slower growth of pharmaceutical
shipments, data showed.
    Philippine stocks closed higher, with telecom and
consumer sectors leading gains.
    Vietnam shares gained for a fourth straight session,
closing 1.1 percent higher. The bourse ended at a two-week
closing high, with Mobile World Investment Corp up 4.5
percent.
    The Indonesian index closed 0.7 percent lower,
largely dragged by banks. Bank Central Asia fell 1.7
percent, while Astra International was down 1.1
percent.
    Thai shares marked their lowest close in a week, as
energy and industrial stocks took a beating from the dip in oil
prices.
    PTT Exploration and Production lost 3.7 percent,
while Airports of Thailand closed 2.8 percent lower.
    Foreign selling of Thai shares hit a record high so far this
year, bourse data showed, driven by domestic political
uncertainty, higher U.S. interest rates and rising global trade
protectionism.

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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3239.64   3232.79         0.21
 Bangkok            1626.07   1627.69         -0.10
 Manila             7381.68   7369.44         0.17
 Jakarta            5861.508  5905.158        -0.74
 Kuala Lumpur       1737.28   1726.67         0.61
 Ho Chi Minh        921.27    911.11          1.12
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3239.64   3402.92         -4.80
 Bangkok            1626.07   1753.71         -7.28
 Manila             7381.68   8558.42         -13.75
 Jakarta            5861.508  6355.654        -7.77
 Kuala Lumpur       1737.28   1796.81         -3.31
 Ho Chi Minh        921.27    984.24          -6.40
 

 (Reporting by Karthika Suresh Namboothiri; Editing by Sunil
Nair)
  
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