* Vietnam rises most in over 1 month
* Philippine ends 0.8% higher on last minute buying
* Thai stocks post best session in over 2 months
By Sameer Manekar
Jan 9 (Reuters) - Southeast Asian stock markets ended higher
on Thursday, recovering from sharp declines in the previous
session, as investors' risk appetite increased after the United
States and Iran looked to back down on their military conflict.
U.S. President Donald Trump said on Wednesday the United
States did not have to retaliate on Iran's attack on its
facilities in Iraq, while Iranian Foreign Minister Mohammad
Javad Zarif said the strikes "concluded" Tehran's response to
the U.S. killing of its top military general. In Southeast Asia, Thai equities .SETI posted their
biggest rise in over two months, with consumer and utilities
firms lifting the index.
Charoen Pokphand Foods CPF.BK and Gulf Energy Development
GULF.BK were among the top performers, adding 5.4% and 3.3%.
Singapore's benchmark index .STI ended flat, and is on
track to post a third consecutive weekly gain.
"Until it flares up again, the U.S.-Iran tensions have faded
after Trump's press conference... Markets have held up well
ahead of the anticipated signing of U.S.-China Phase 1 deal on
Jan. 15," said Kee Yan Yeo, an equity market strategist at DBS
Bank.
The Singapore index has performed relatively better than
other markets over the last two days. On Wednesday, the index
ended marginally lower, while other Southeast Asian markets lost
nearly 1%.
Vietnam stocks .VNI ended 1.2% higher, gaining most in
over a month.
Financial and real estate firms were among the top gainers,
with Bank for Foreign Trade of Vietnam VCB.HM and Vinhomes Jsc
VHM.HM rose 2% and 1%, respectively.
Financials and consumer stocks lifted the Philippine bourse
.PSI , which rose 0.8%. Nearly half of the bourse's gains came
from last-minute buying.
Metropolitan Bank and Trust Co MBT.PS rose 2%, while SM
Investments Corp SM.PS gained 1.6%.
Indonesian shares .JKSE recorded their best session in
nearly a month. Bank Mandiri (Persero) BMRI.JK and state-owned
Telekomunikasi Indonesia TLKM.JK gained 2.7% and 1.5%.
An index of Jakarta's 45 most liquid stocks .JKLQ45 ended
1.1% higher.
Financials and telecom firms lifted the Malaysian equities
.KLSE , with Malayan Banking MBBM.KL and mobile service
provider Digi.Com Bhd DSOM.KL rising 1.3% and 2.9%.
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SOUTHEAST ASIAN STOCK MARKETS
Market Current Previous close Pct Move
Singapore 3247.48 3245.89 0.05
Bangkok 1579.64 1559.27 1.31
Manila 7797.64 7736.24 0.79
Jakarta 6274.493 6225.686 0.78
Kuala Lumpur 1595.65 1589.1 0.41
Ho Chi Minh 960.15 948.98 1.18
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 3247.48 3222.83 0.76
Bangkok 1579.64 1579.84 -0.01
Manila 7797.64 7,815.26 -0.23
Jakarta 6274.493 6,299.54 -0.40
Kuala Lumpur 1595.65 1588.76 0.43
Ho Chi Minh 960.15 960.99 -0.09