Most Southeast Asian stock markets ended higher on Friday tracking peers in Asia, with the Philippines leading the pack on bargain-hunting. MSCI's broadest index of Asia-Pacific shares outside Japan was marginally higher ahead of the US jobs report later in the day.
Investors will scrutinise the report for clues on whether it could influence the timing of the Federal Reserve's plans to tighten monetary policy. Philippine shares ended 0.7 percent higher buoyed by gains in utilities and financial stocks. The benchmark index is down 1.7 percent on week, its worst this year.
Energy Development Corp surged to end the session 16 percent higher after the renewable power producer said on Thursday a consortium of investors had offered to buy about a third of the company. Its parent, First General Corp gained 6.1 percent. Shares of both the companies saw heavy trading activity.
"The market today is largely boosted by the performance of EDC and First Gen," said Charles Ang, an analyst with Manila-based COL Financial. Philippines' annual inflation was 2.8 percent in July, picking up slightly from the previous month's revised 2.7 percent rate.
Malaysia ended 0.2 percent higher, aided by financials and industrials. Public Bank Bhd ended 0.8 percent higher, while MISC Bhd closed up 0.4 percent. The index ended a third straight week higher. Malaysia's exports in June grew 10 percent from a year earlier, government data showed.
Bucking the trend, Singapore ended 0.3 percent down, as oil and gas stocks took a hit from lower oil prices. Sembcorp Industries lost 1.6 percent, while DBS Group Holdings ended 2.5 percent lower after it flagged pressures on asset quality. Singapore shares snapped five weeks of gains to end marginally lower for the week.
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