(May 30): Most Southeast Asian stock markets rose on Thursday ahead of a key economic data announcement by China, with Philippines leading gains, while Singapore shares fell to a near five-month low. Meanwhile, Sino-U.S. trade tensions continued to take precedence in global financial markets. "The continued aggravation of trade tensions between China and the US has sent investors scrambling to find safe havens amid a highly volatile market," a note from OCBC said. "Investors seem resigned to a prolonged trade war and a dimmed global growth outlook." Analysts say Philippines will be one of the beneficiaries from the trade war as firms hoping to move out of China to avoid increased tariffs look to other countries, including Philippines, for growth.

Source: The Edge Markets May 30, 2019 04:07 UTC