* Vietnam posts best session in about 6 weeks
* Malaysia ends at 2-week high on bargain buying
By Ambar Warrick
April 24 (Reuters) - Most Southeast Asian stock markets
ended higher on Wednesday, led by Vietnam, as an earnings driven
rally in U.S. stocks spurred buying, despite broader Asian
equities running out of steam by the day's end.
Wall Street indices scaled record highs overnight and
prompted early gains across most Asian bourses, although
residual fears over global growth and Chinese stimulus slowly
crept back into markets.
"Apparently, we are stuck in a stock market rally that no
one likes as you would be troubled to find another
record-breaking U.S. session that was received with such low
spirited appeal from Asian investors," Stephen Innes, managing
partner and head of trading at SPI Asset Management, said in a
Still, most regional markets held on to the day's gains,
with the Vietnam index ending up 0.9 percent at a
one-week high in its best session since March 12.
Strong U.S. corporate earnings are positive for Vietnam,
which serves as a manufacturing hub for a number of American
Vietnam Dairy Products JSC and Joint Stock
Commercial Bank for Foreign Trade of Vietnam were among
the top boosts to the index for the day.
The Malaysian benchmark ended at a two-week high on
bargain buying in most major sectors. Financials and consumer
non-staples were among the top boosts for the day.
Public Bank ended up 0.2 percent, while Sime Darby
Plantation closed around 1 percent higher.
The Philippine index closed 0.4 percent higher on
strength in industrial and real estate stocks. Industrial
conglomerate SM Investments Corp gained 2.2 percent,
while Ayala Land Inc closed at a record peak.
Ayala Land was among the biggest boosts to the index after
it outlined plans to raise about $500 million through what would
be the Philippine's first real estate investment trust public
Ayala Land's parent, Ayala Corp, also ended about 2
percent higher and pushed up the benchmark.
The Indonesian benchmark, however, ended slightly
lower on profit taking in consumer staples and financial stocks.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3362.43 3353.47 0.27
Bangkok 1673.43 1671.31 0.13
Manila 7846.99 7818.93 0.36
Jakarta 6447.885 6462.822 -0.23
Kuala Lumpur 1638.01 1627.44 0.65
Ho Chi Minh 976.92 968 0.92
Change on year
Market Current End 2018 Pct Move
Singapore 3362.43 3068.76 9.57
Bangkok 1673.43 1563.88 7.01
Manila 7846.99 7466.02 5.10
Jakarta 6447.885 6194.498 4.09
Kuala Lumpur 1638.01 1690.58 -3.11
Ho Chi Minh 976.92 892.54 9.45
(Reporting by Ambar Warrick in Bangalore; Editing by Rashmi