Most southeast Asian markets rose on Thursday, with Indonesia and Vietnam gaining more than 1 percent each, as fears of a global trade war eased after the White House said some trade partners may be exempted from President Donald Trump's proposed tariffs. Broader Asian peers climbed nearly 1 percent after White House spokeswoman Sarah Sanders said Canada, Mexico and a clutch of other countries may be exempted from impending hefty US tariffs on steel and aluminium imports.
Indonesia rose after six consecutive days of losses, helped by gains in lenders including Bank Central Asia and Bank Negara Indonesia, up more than 3 percent each. An index of the country's 45 most liquid stocks rose as much as 1.3 percent. Vietnam shares were lifted by real estate company Vingroup and financial intermediary Vietnam Prosperity, with both hitting all-time highs.
Thai shares declined for a seventh straight session, their longest losing streak since November 2015, as energy company PTT Pcl shed 1.5 percent and property developer Central Pattana dropped nearly 5 percent. Philippine shares were down 0.3 percent, with financials dragging the index lower, a day before the release of January trade balance data. Philippines had finished 2017 posting its largest ever annual trade deficit, pressuring the peso. BDO Unibank and Ayala Corp lost more than 2 percent each.
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