BANGKOK, Aug 29 ― Thai shares rebounded today, helped by short covering, while others in the region were range-bound amid a mixed-bag of economic data and caution about tensions in Ukraine.

Thai SET index inched up 0.2 per cent, with shares of telecommunications company True Corp rallying to their highest since June 2001 after the fall early in the week amid short selling, stock exchange data showed.

“True Corp shares were among the top active short-selling list this week. The strong gain today could come from those investors who covered their short positions,” said a trader at broker KT Zmico Securities.

Energy shares edged slightly higher, recovering from a 1.2 per cent drop yesterday as investors weighed in the risk of the government's retail oil price restructuring, resulting in a reduction in gasoline prices.

Shares of oil traders and petrol station operators were mixed, with stocks of PTT unchanged after a 2.7 per cent drop yesterday. Shares of Bangchak Petroleum Pcl jumped 2.2 per cent and PTG Energy rose 2 per cent.

“Oil traders and petrol station operators may see losses/gains on petrol and gasohol inventories following the cuts while margin on diesel prices would be up due to lower-priced inventories,” said energy analyst Ornmongkol Tantitanatorn of broker Phillip Securities.

Data from Thailand's Industry Ministry early today showed July factory output slid more than expected, another sign the economy is stuck in a rut even as the government stays upbeat on economic outlook.

Thai central bank will announce July economic numbers later in the day.

The Philippines fell for a second day after the country posted a budget deficit of 1.8 billion pesos (RM130 million) in July, while Malaysia reversed Thursday's gain before money supply and banking indicators in July.

Shares of Singapore's banks were mixed, with Oversea-Chinese Banking Corp up 0.2 per cent and DBS Group Holdings down 0.1 per cent, after total bank lending in

Singapore was barely changed in July from June.

Vietnam rose 0.3 per cent amid busy trade in banking stocks while solid money inflows extended even with a two-day market holiday ahead. ― Reuters