* Thai stocks lead gains, up as much as 1.1%
* Vietnam recovers from over 6-month low
* China Dec CPI unchanged from Nov
By Sameer Manekar
Jan 9 (Reuters) - Southeast Asian markets rose on Thursday,
recovering from sharp declines in the previous session, after
remarks from the United States and Iran soothed concerns of a
larger Middle East conflict.
President Donald Trump said on Wednesday the United States
did not have to respond militarily to Iran's attack, while
Iranian Foreign Minister Mohammad Javad Zarif said the strikes
"concluded" Tehran's retaliation. "As sentiment improves, market participants unwound
safe-haven bets with broad relief sell-off in the bond
universe," Mizuho Bank analyst Zhu Huani said.
Aiding sentiment, data showed China's efforts to prop up its
economy was yielding results as producer prices fell at a slower
pace, showing signs of a modest recovery in industry activity
and consumer price index in December remained unchanged from a
month ago at 4.5%. Thai stocks .SETI led gains in the region and was up as
much as 1.1%. Gulf Energy Development GULF.BK and Charoen
Pokphand Foods CPF.BK added 2.7% and 3.6%, respectively.
Indonesian equities .JKSE gained, with Bank Central Asia
BBCA.JK rising 0.9% and Bank Mandiri (Persero) BMRI.JK 1.7%.
Singapore's benchmark index .STI gained as much as 0.5%,
with Southeast Asia's largest lender DBS Group Holdings
DBSM.SI rising 0.4%, and industrial conglomerate Jardine
Strategic Holdings JSH.SI gaining 0.9%.
Malaysian equities .KLSE were lifted by financials.
Heavyweights Malayan Banking MBBM.KL and CIMB Group Holdings
CIMB.KL climbed 0.8% and 1%.
Philippine bourse .PSI inched up 0.3%. BDO Unibank
BDO.PS rose 0.5% and Ayala Land ALI.PS was up 1.8%.
Vietnam stocks .VNI recovered from a more than six-month
low hit in the previous session to climb up to 0.9% as most
blue-chip names rallied.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0427 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3247.96 3245.89 0.06
Bangkok 1572.14 1559.27 0.83
Manila 7762.75 7736.24 0.34
Jakarta 6245.823 6225.686 0.32
Kuala Lumpur 1592.04 1589.1 0.19
Ho Chi Minh 956.43 948.98 0.79
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 3247.96 3222.83 0.78
Bangkok 1572.14 1579.84 -0.49
Manila 7762.75 7,815.26 -0.67
Jakarta 6245.823 6,299.54 -0.85
Kuala Lumpur 1592.04 1588.76 0.21
Ho Chi Minh 956.43 960.99 -0.47