* Thai stocks set to snap two sessions of losses
* Malaysia July exports above forecast
* Singapore on track for second straight gain
By Shreya Mariam Job
Sept 4 (Reuters) - Thai stocks .SETI gained the most in
the region on Wednesday after the country's finance minister
played down recession fears, while Singapore advanced on the
back of upbeat service sector data from China.
Thailand's economy is just slowing but not in a recession
yet and recently announced stimulus measures should help lift
growth to 3% this year, the country's finance minister said.
Analysts expect recent inflation data would lead to an
interest rate cut by Thailand's central bank.
"We believe falling inflation allows the Bank of Thailand
space to ease further by at least one more 25bp policy rate cut
in the rest of the year," ING said in a note to clients.
The Thai SET index .SETI rose 0.6%, with gains broad based
and was set to snap two straight sessions of losses.
The country's biggest listed energy firm PTT PCL PTT.BK
gained 1.2%, while telecom company Advance Info Service PCL
ADVANC.BK added 0.9%.
Also helping shrug off sour manufacturing data out of the
United States was China's service sector numbers. Activity in China's services sector expanded at the fastest
pace in three months in August as new orders rose, prompting the
biggest increase in hiring in over a year, a private survey
showed on Wednesday.
The upbeat data boosted equities in trade-reliant Singapore,
with the city-state's benchmark .STI index gaining 0.4%, on
track to post its second straight gain.
Financial and telecom stocks provided the biggest support.
DBS Group Holdings Ltd DBSM.SI edged up 0.4%, while Singapore
Telecommunications Ltd STEL.SI advanced 1%.
Vietnam stocks .VNI fell 0.5% as financial stocks dropped.
Joint Stock Commercial Bank For Foreign Trade Of Viet Nam
VCB.HM fell 1% and Joint Stock Commercial Bank for Investment
BID.HM shed 1.3%.
Malaysia stocks .KLSE inched higher, with a boost from
financial stocks.
The country's exports rose unexpectedly in July, rebounding
from a drop in the previous month, lifted by solid demand for
manufactured goods and higher shipments to China, government
data showed on Wednesday. Indonesian stocks .JKSE edged lower, while Philippine
stocks .PSI traded relatively flat.
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SOUTHEAST ASIAN STOCK MARKETS As at 0346 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3103.28 3090.63 0.41
Bangkok 1651.28 1642.25 0.55
Manila 7806.08 7804.71 0.02
Jakarta 6248.475 6261.59 -0.21
Kuala Lumpur 1592.35 1591.52 0.05
Ho Chi Minh 974.84 979.36 -0.46
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3103.28 3068.76 1.12
Bangkok 1651.28 1563.88 5.59
Manila 7806.08 7,466.02 4.55
Jakarta 6248.475 6,194.50 0.87
Kuala Lumpur 1592.35 1690.58 -5.81
Ho Chi Minh 974.84 892.54 9.22