Southeast Asian markets: Vietnam ends at near 10-year high; Thailand retreats

Most Southeast Asian stock markets ended slightly higher on Thursday, in line with their Asian peers, with Vietnam closing at a near-decade high for a third consecutive session. MSCI's broadest index of Asia-Pacific shares outside Japan edged up and was near a 10-year high hit in the previous day, taking cues from overnight gains on Wall Street.
Sentiment got a boost after data showed China's producer prices were surprisingly strong in October while consumer inflation picked up pace, indicating that the world's second-largest economy remains robust. Vietnam inched 0.1 percent higher to levels unseen since January 2008, buoyed by real estate stocks. Vingroup Joint Stock Company closed at a record high.
The Singapore index ended 0.1 percent higher, at a two-year high for a third consecutive session, as gains in financials outweighed losses in industrials. Jardine Matheson Holdings Limited closed 3.4 percent lower, while the nation's largest lender DBS Group Holdings ended at its highest in nearly 18 years.
Philippine shares inched 0.1 percent higher, driven by industrials and real estate stocks. Industrial conglomerate JG Summit Holdings ended 3.2 percent higher, while property developer SM Prime Holdings closed 1.2 percent up. The country's central bank maintained its benchmark interest rate at 3 percent as expected, with inflation remaining manageable despite robust growth in the economy.
Malaysian benchmark index closed 0.2 percent higher. Bank Negara Malaysia maintained key interest rate at 3 percent, although inflation for full-year 2017 is expected to come in at the higher end of its forecast range of 3-4 percent. Thailand stocks ended the day 0.7 percent lower, snapping three sessions of gains as a rise in consumer confidence in October failed to cheer investors.-