Most Southeast Asian stock markets closed higher on Thursday as report that Washington and Beijing were making headway on their talks on trade helped bolster sentiment, after recent sessions of steep sell-offs over global growth worries.
Investors awaited the outcome of the next round of talks due later in the day, on the backdrop of a Reuters report that both economies have made progress in all areas under discussion in trade talks, but sticking points still remain.
Separately, China's Premier Li Keqiang said he does not think there is any trust deficit between Beijing and Washington, and the country will sharply expand market access especially in its financial services sector.
"Near-term direction of the market is very much dependent on a trade resolution between the US and China. Trade resolution will boost confidence that global growth has troughed," said, Paul Chew Kuan Leng, Head Of Research, Phillip Securities Research.
Leading the gains in the regional markets, Vietnam shares ended 0.7 percent firmer, boosted by strength in the real estate sector, with Vinhomes JSC adding 3.3 percent.
Government data showed that the country's Consumer Price Index (CPI) is likely 0.21 percent lower in March, compared with the previous month. Singapore shares ended 0.2 percent firmer. Casino operator Genting Singapore Ltd closed 1 percent higher, while conglomerate Jardine Strategic Holdings Ltd edged 0.4 percent higher.
Thai shares closed 0.3 percent higher, after the Election Commission said the pro-army party won the popular vote in general election. The pro-army Palang Pracharat Party gained 8.4 million ballots, while the main opposition Pheu Thai Party got 7.9 million vote, the election commission said. Shares of Airports of Thailand PCL were among the top gainers on the index, while telecom provider Advanced Info Service PCL closed 1.1 percent firmer.
Meanwhile, a senior Thai central bank official said the country's monetary policy committee did not "close the door" on raising interest rates this year.
The Malaysian benchmark index was the only outlier, ending 0.1 percent lower.
The index extended declines to close at its lowest in more than three months after the Malaysian central bank projected a gloomy growth outlook for this year.
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