SE Asia Stocks-Philippines rises on last-minute buying; growth worries cap gains
* Singapore rebounds from early losses to end steady * Indonesia gains dented by World Bank forecast cut - analyst * Thailand dragged by energy stocks as oil prices dip By Rashmi Ashok July 2 (Reuters) - The Philippine index led gains in the region on Tuesday, boosted by last-minute buying in large-cap stocks, followed by Malaysian shares, while other Southeast Asian stock markets were subdued as lacklustre data stoked worries about economic slowdown. Disappointing manufacturing activity data for June from various countries on Monday reflected signs of slowing economies with activity across the United States and Europe sharply slowing, while regional PMI data also missed the mark. Philippine stocks saw a spurt of buying among large-cap stocks just a few minutes before close. The index was the top gainer in the region, ending 0.6% higher, after a lacklustre performance for most of the session. Investors purchased shares of index heavyweights such as JG Summit Holdings, Aboitiz Power Corp and SM Investments Corp ahead of session close. Shares of JG Summit jumped about 1.5% in the last 10 minutes of Tuesday's trade to close 1.8% higher. Malaysian stocks held on to early gains to end higher, with tourist electric utilities provider Tenaga Nasional adding 1.9%, while telco Axiata Group closed 1% firmer. Meanwhile, Indonesian stocks flitted through the session, but ended slightly firmer. "Despite good news revolving around trade talks and the G20 meeting, the upside move today seems to be limited after World Bank cut Indonesia's economic growth forecast to 5.1% from 5.2% (in 2019)," said Anugerah Zamzami Nasr, equity research analyst, PT Phillip Sekuritas Indonesia. "Risks to Indonesia's growth projection have increased with the recent re-escalation of global tensions that could further weigh on world trade," a World Bank report added. http://bit.ly/2KTbIwq Singapore shares rebounded from early losses to end flat as gains in large-caps - Jardine Matheson Holdings and Jardine Strategic Holdings - helped the index recover. Vietnam's index closed lower, dragged by financial stocks, while Thai shares were dented by losses in energy stocks after crude prices dropped. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3370.8 3372.26 -0.04 Bangkok 1732.23 1740.91 -0.50 Manila 8093.6 8043.71 0.62 Jakarta 6384.898 6379.688 0.08 Kuala Lumpur 1691 1683.62 0.44 Ho Chi Minh 961.98 965.61 -0.38 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3370.8 3068.76 9.84 Bangkok 1732.23 1563.88 10.76 Manila 8093.6 7,466.02 8.41 Jakarta 6384.898 6,194.50 3.07 Kuala Lumpur 1691 1690.58 0.02 Ho Chi Minh 961.98 892.54 7.78 (Reporting by Rashmi Ashok in Bengaluru, Editing by Sherry Jacob-Phillips)