* Global markets take breather amid no fresh U.S.-Iran
threats
* Philippine Dec CPI above forecast
* Thai stocks rebound from worst fall in over 2 months
By Sameer Manekar
Jan 7 (Reuters) - Most Southeast Asian stock markets on
Tuesday recovered from previous session's losses, as investors
tempered expectations for a widespread geopolitical conflict
with no exchange of fresh threats between the United States and
Iran.
Regional stock markets fell between 0.5% and 1.7% on Monday
after the United States warned of major retaliation if Iran
strikes back for the killing of its military commander and
threatened to impose sanctions on Iraq for the expulsion of U.S.
troops from Baghdad. U.S. Defense Secretary Mark Esper on Monday said that the
United States has no plans to pull its troops out of Iraq.
"There is a likelihood of heightened geopolitical risks in
the Middle East, as well as globally, so markets are likely to
be volatile over the week," Linus Loo, head of research at Lim &
Tan Securities said, adding that optimism surrounding the
U.S.-China Phase 1 trade deal may return to the markets.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS added 0.6%, recouping almost all of Monday's
losses.
Leading the gains in the region, Malaysian stocks .KLSE
rebounded from a nearly 1% drop in the previous session.
Financials and consumer sectors boosted the benchmark, with
Malayan Banking MBBM.KL and Sime Darby Plantation SIPL.KL
advancing 0.4% and 1.3%, respectively.
Singapore's benchmark index .STI rose on the back of gains
in blue-chip stocks, with Southeast Asia's largest lender DBS
Group Holdings DBSM.SI and Oversea-Chinese Banking Corp
OCBC.SI adding nearly 1% each.
Thai stocks .SETI clawed back from their worst drop in
over two months in the previous session, lifted by
petrochemicals producer PTT Global Chemical PTTGC.BK and
telecom firm Advanced Info Service ADVANC.BK .
The Philippine index .PSI gained 0.3% after data on
Tuesday showed the country's annual inflation picked up more
than expected in December, but remained well within the central
bank's target. The benchmark was boosted by SM Investments Corp SM.PS and
Ayala Corp AC.PS , which jumped 2% and 0.6%, respectively.
"The surprise inflation print in December should keep Bangko
Sentral ng Pilipinas (BSP) on alert as they gauge price
developments going into 2020," ING said in a note, adding that
there is scope for the central bank to ease monetary policy
further in 2020.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0346 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3242.99 3218.86 0.75
Bangkok 1578.38 1568.5 0.63
Manila 7818.21 7797.87 0.26
Jakarta 6265.661 6257.403 0.13
Kuala Lumpur 1610.52 1597.76 0.80
Ho Chi Minh 955.25 955.79 -0.06
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 3242.99 3222.83 0.63
Bangkok 1578.38 1579.84 -0.09
Manila 7818.21 7,815.26 0.04
Jakarta 6265.661 6,299.54 -0.54
Kuala Lumpur 1610.52 1588.76 1.37
Ho Chi Minh 955.25 960.99 -0.60