SE Asia Stocks-Most higher; oil and gas stocks recoup some losses

martes 2 de diciembre de 2014 02:51 GYT
 

BANGKOK, Dec 2 (Reuters) - Southeast Asian stock markets
mostly gained on Tuesday, with the Singapore index rebounding
from Monday's two-week closing low amid bargain hunting in
battered oil and gas stocks as crude oil markets bounced back
from five-year lows.
    Singapore's key Straits Times Index rose 0.7
percent to 3,327.21 after hitting 3,305.64 at the close on
Monday. Shares of Ezion Holdings led the gainers,
trading up 4.5 percent after Monday's 16 percent drop.
    The recovery in crude oil prices would alleviate selling in
oil and gas related stocks, said Singapore-based broker NRA
Capital. It expected the market's rise to be small.
    "It is likely gains will be capped as the mood remains
uncertain with concerns that Europe's recovery is still tenuous
at this stage," it said.
    Crude oil markets jumped as much as 5 percent on Monday on
fears the high U.S. shale output blamed for the global oil glut
may be shrinking. 
    Indonesia's index rose for a fifth session to the
highest since Sept. 25. Shares of coal miner PT Bumi Resources
Tbk surged as much as 12.2 percent after three of its
units filed for protection from creditors in the United States.
 
    In Bangkok, shares of the country's top oil and gas firm PTT
 were up 0.6 percent after a 5 percent slide on Monday
while the SET index eased 0.3 percent.
    Broker Maybank Kim Eng Securities advised investors to slow
investments ahead of the ECB meeting this week, awaiting details
of a bond purchase program. 
    "If the ECB announces the bond purchasing program, more
capital from hedge funds will flow into emerging and Thai
markets," it said in a report.
    In Kuala Lumpur, shares of Sapurakencana Petroleum 
rose 1.2 percent, recouping from a 10 percent fall on Monday,
and helping trim some losses in the broader market.
    Malaysia's key stock index eased 0.4 percent,
extending losses for a fourth day to a near oversold territory.
Its 14-day Relative Strength index (RSI) stood at 31.9. A level
of 30 or lower indicates the market is oversold.
       
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0626 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3327.21       3305.64       +0.65
 Kuala Lumpur       1770.71       1778.27       -0.43
 Bangkok            1589.53       1593.82       -0.27
 Jakarta            5186.86       5164.29       +0.44
 Manila             7336.29       7331.73       +0.06
 Ho Chi Minh         569.29        568.01       +0.23 
 
 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)