Largely up as North Korea tensions abate

JAKARTA: Most Southeast Asian stock markets ended higher on Wednesday, reversing losses from the day before and in line with Asia and Europe, as the threat of no new sanctions on North Korea following its ballistic missile test calmed jittery investors.
The 15-member U.N. Security Council said North Korea should take immediate and concrete actions to reduce tensions, but the U.S.-drafted statement, which was agreed by consensus, did   not threaten new sanctions.    
Most regional markets are higher due to receding fears of hostilities in the Korean peninsula, said Manny Cruz, an analyst with Manila-based Asiasec Equities Inc.
In Southeast Asia, Malaysian shares closed 0.7 percent higher, helped by upbeat earnings from major companies. Malayan Banking Bhd, Malaysia's largest bank by assets, gained 0.4 percent after it reported a 43 percent rise in quarterly net profit. The country's biggest mobile operator
Axiata Group climbed to its highest in two months after its quarterly profit surged.
Singapore shares climbed 0.6 percent, with financials accounting for half of the gains on the index.
Index heavyweights DBS Group and Oversea-Chinese Banking Corporation were up 1.2 percent and 0.7 percent, respectively. Vietnam closed at its highest in three weeks, with real estate company Vingroup JSC hitting a record closing high. 
Indonesia ended 0.3 percent lower, with clove cigarettes manufacturer Gudang Garam Tbk falling 3.7 percent.
The Thai index finished marginally lower, after earlier rising 0.8 percent, its highest in more than four years.     Asia shares ex-Japan were up 0.6 percent as of 1004 GMT.