Most Southeast Asian stock markets ended higher on Friday, with the Philippines rising for a fourth straight week, but gains were capped ahead of a US jobs report which could provide cues on the pace of Federall Reserve interest rate hikes Sentiment in broader Asia was muted, with Asian shares ex-Japan trading flat after Beijing vowed on Thursday to retaliate to the threat of higher tariffs from the United States on $200 billion worth of Chinese imports.
Philippine shares ended 0.8 percent higher, led by financials. The index is up more than 1.5 percent for the week. Ayala Corp, up 2 percent, was the top contributor, while Metropolitan Bank And Trust Co added 3.7 percent.
Thai shares ended 0.2 percent higher, with the index extending gains to a fifth straight week. Financials and real estate stocks outperformed after data showed Thailand's consumer sentiment rose in July from a month earlier. Malaysian shares inched up, with gains in industrials and energy stocks outweighing losses in telecom. The index is up for a fourth consecutive week.
Malaysia's exports grew 7.6 percent in June, missing the 11.5 percent forecast in a Reuters poll, with export growth slowing sharply from a surge in April. "In upcoming month, we foresee Malaysia's exports to remain positive on the back of zero-rated GST, tax holiday period and stable retail fuel price," MIDF Research said in a note.
Among losers, Singapore dropped the most, with the index closing 1.8 percent lower for the week. Lender DBS Group Holdings was the biggest drag on the benchmark for a second straight session after reporting a second-quarter profit on Thursday which fell short of expectations. Indonesian shares shed 0.1 percent, hurt by losses in consumer discretionary and telecom stocks.
Indonesia's central bank forecast second-quarter economic growth at 5.15 percent, with the governor saying that pace, combined with low inflation showed that "the national economy is running under its capacity".