Most Southeast Asian stock markets closed higher on Thursday, with Vietnam gaining nearly 2.5 percent, as the political turmoil in Italy that roiled global financial markets showed signs of easing. A degree of calm returned with the two anti-establishment parties renewing efforts to form a coalition government, rather than force Italy into holding elections for the second time this year, which could have stoked fears of such a vote effectively being a referendum on its euro membership.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.9 percent after slumping to its weakest since early April on Wednesday.
Vietnam shares closed 2.4 percent higher with Saigon Beer Alcohol Beverage Corp gaining 4.8 percent and Joint Stock Commercial Bank for Foreign Trade of Viet Nam climbing 4 percent.
The benchmark stock index fell 7.5 percent this month, in its second consecutive monthly drop. Malaysian shares closed 1.2 percent higher, but fell 6.9 percent for the month in their biggest monthly drop since October 2008.
Tenaga Nasional Bhd rose 1.8 percent and DiGi.Com Bhd climbed 5.2 percent.
Indonesian shares closed 0.5 percent lower with Telekomunikasi Indonesia (Persero) Tbk Perusahaan Perseroan PT declining 2.2 percent and United Tractors Tbk PT shedding 4.7 percent.
Singapore shares erased gains towards the end of the session and closed 0.5 percent lower. Jardine Matheson Holdings fell 2.9 percent, while United Overseas Bank Ltd was down 2.8 percent.
For the month, Indonesian shares dropped 0.2 percent, in their fourth straight monthly drop, while Singapore fell over 0.5 percent.
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