Southeast Asian stock markets ended mostly higher on Tuesday as steadier global stock markets bolstered bargain hunting in recently battered bluechips such as Indonesia's Astra International Tbk and Philippines' PLDT. Jakarta's Composite Index edged up 0.36 percent at 4,329.07, its all-time closing high. The biggest listed company Astra International rose 2.6 percent, halting a four-day fall.
The Philippine main index gained 0.31 percent to 5,399.94, the highest close in more than one week. Manila's biggest firm by value Philippine Long Distance Telephone Co rose 0.7 percent after Monday's 1 percent drop. The Ho Chi Minh Stock Exchange's VN Index climbed nearly 2 percent to a one-month closing high of 399.22, with market sentiment lifted after Vietnam's ruling Communist Party promised economic reforms.
Investors preferred bluechips that are due to release good earnings in the coming reporting season, brokers said. In Bangkok, state run Krung Thai Bank Pcl rose 2.2 percent, outperforming the SET index which fell 0.2 percent. Broker Phillip Securities said it expects Krung Thai Bank to post a July-September net profit of 7.26 billion baht ($236.67 million) versus last year's 5.5 billion baht.