SE Asia stocks rise as fresh Wall Street highs support

Southeast Asian stock markets ended higher on Friday as fresh peaks on Wall Street overnight continued to underpin investor sentiment, with Singapore gaining nearly 1%.

SE Asia stocks rise as fresh Wall St highs support Southeast Asian stock markets ended higher on Friday as fresh peaks on Wall Street overnight continued to underpin investor sentiment, with Singapore gaining nearly 1%.

Broader Asian shares gained as investors awaited September US jobs data due later in the day that may provide clues on whether the Federal Reserve would raise interest rates as expected in December.

The dollar rose on Friday setting it on track for its fourth consecutive week of gains as investors trimmed some short bets on growing views that interest rate markets are underpricing the extent of US rate increases over the coming months.

The US Labor Department's closely watched employment report will likely show that nonfarm payrolls increased by 90,000 jobs last month, a Reuters survey of economists showed, after rising by 156,000 in August.

The number of Americans filing for unemployment benefits fell more than expected last week, but the continued impact of Hurricanes Harvey and Irma on the data made it difficult to get a clear picture of the labour market.

In Southeast Asia, Singapore shares climbed 0.9% and closed at their highest in more than 1-1/2 months, bringing the weekly gain to 2.2%.

United Overseas Bank Ltd rose 1.5%, while Jardine Matheson Holdings Ltd added 2.3%.

Philippine shares pared early gains to close 0.2% higher, buoyed by industrials. The index gained 1.7% over the week, marking its fourth week of gains in five.

Index heavyweights SM Investments Corp ended 1.3% higher, having hit an all-time high earlier in the day, while JG Summit advanced 3.3%.

The Jakarta stock index firmed marginally, buoyed by material and energy stocks.

Cement manufacturer Semen Indonesia climbed more than 3%, while Adaro Energy rose 2.5%.

The index of the country's 45 most liquid stocks rose 0.2%.

Malaysian stocks rebounded, helped by telecom and industrial stocks.

Malaysia's exports in August grew to 21.5% from a year earlier, beating expectations on the back of manufacturing sector and liquefied natural gas (LNG) exports, but were slower than the previous month.

IJM Corp and Sime Derby rose 1.9% and 0.9%, respectively.