Southeast Asian stock markets ended on a cautious note on Wednesday, with the Stock Exchange of Thailand gaining but Philippine shares extending losses to a sixth straight session.
Sentiment in broader Asia remained sombre with MSCI's broadest index of Asia-Pacific shares outside Japan falling to its lowest levels since July 2017, after China on Tuesday said it wanted to impose US$7 billion a year in sanctions on Washington.
"South Asia market risk is an entirely different kettle of fish, and 'when in doubt, stay out', as there are few clear-cut risk decisions on the back of the looming China tariffs...," Stephen Innes, Head of Trading APAC, OANDA, said in a research note.
The SET index earned 6.97 points or 0.42% to close at 1,679.39, in turnover worth 59 billion baht.
The Philippine index fell nearly 1% to its worst seven-week closing low, led by industrial stocks such as JG Summit, down 5.5%, and Aboitiz Equity Ventures which hit a more than five-year trough.
A weakness in emerging market currencies including the Peso, coupled with quickening inflation in the Philippines has seen Manila's benchmark index shedding nearly 5% over the past six sessions.
Singapore shares reversed course to end 0.6% higher, with lender Oversea-Chinese Banking Corp climbing nearly 1% and shipbuilder Keppel Corp gaining 2.2%.
Data showed that the city-state's total retail sales for July declined 2.6% from a year earlier, dragged by a fall in motor vehicles sales.
"Market concerns about US-Sino trade tensions could have contributed to dampened domestic consumer sentiments," OCBC Bank said in a note.
Indonesian shares erased early gains and ended 0.6% lower. Bank Central Asia and Telekom Indonesia , down about 2% each, were the biggest drags on the index. An index of the country's 45 most liquid stocks shed 0.7%.
Malaysian shares declined 0.8% to a near four-week low. Telecom group Axiata lost 2.2%.
Vietnam added 0.2%.
