* Malaysia posts biggest pct gain in over 2-1/2 years
* Malaysian power utility Tenaga Nasional surges on tariff
* Indonesian stocks gain ahead of cbank rate decision
By Ambar Warrick
June 29 (Reuters) - Malaysian shares bounced back on Friday
from their lowest close in one-and-a-half years, on strong gains
in power utility Tenaga Nasional, the index's third largest
stock, while most other Southeast Asian stock markets firmed in
the final trading session of the quarter.
Asian share markets rallied from nine-month lows, after
China eased foreign investment limits, but underlying sentiment
was dampened by worries over trade frictions a week before
initial U.S. and Chinese tariffs were set to take effect.
"Asian bourses may see a small reprieve into the monthend
amid more positive overnight cues from Wall Street. Key to watch
today is the Bank of Indonesia rate decision," OCBC said in a
Wall Street rose overnight, lending some support to
sentiment in Asia. MSCI's broadest index of Asia-Pacific shares
outside Japan rose about 1 percent.
However, Southeast Asian stock markets were set to log
substantial quarterly losses, as trade tensions between the two
largest economies in the world took their toll. A volley of
tariffs between the United States and China had prompted a mass
exodus from the region's risky assets.
Malaysian stocks jumped as much as 2.2 percent,
their biggest intraday percentage gain since September 2015. The
market fell to a 1-1/2-year closing low on Thursday.
Tenaga Nasional Bhd surged 8.4 percent and was the
biggest boost to the Malaysian benchmark. The company revised
its tariffs on Friday and said that it would charge non-domestic
customers an additional surcharge for the July-December period.
The index was on track to post a 9 percent loss for the
Indonesian shares rose about 0.9 percent, with
financials and consumer staples taking the lead. Bank Mandiri
rose 2.3 percent, while Unilever Indonesia
gained 0.9 percent.
Bank Indonesia, which increased its key interest rate twice
during May, is likely to raise it again when it meets on Friday,
a Reuters poll showed. The bank has been struggling to stabilise
a plunging rupiah.
Indonesian stocks were on track to post a more than 7
percent decline for the quarter.
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SOUTHEAST ASIAN STOCK MARKETS
Change as at 0340 GMT
Market Current Previous close Pct Move
Singapore 3276.03 3257.57 0.57
Bangkok 1592.32 1599.54 -0.45
Manila 7140.22 7066.57 1.04
Jakarta 5716.183 5667.319 0.86
Kuala Lumpur 1700 1665.68 2.06
Ho Chi Minh 954.12 957.35 -0.34
Change on year
Market Current End 2017 Pct Move
Singapore 3276.03 3402.92 -3.73
Bangkok 1592.32 1753.71 -9.20
Manila 7140.22 8558.42 -16.57
Jakarta 5716.183 6355.654 -10.06
Kuala Lumpur 1700 1796.81 -5.39
Ho Chi Minh 954.12 984.24 -3.06
(Reporting by Ambar Warrick in Bengaluru; Editing by Amrutha