SE Asia Stocks-Higher; Malaysia comes off six-week low

martes 2 de diciembre de 2014 07:24 GYT

BANGKOK, Dec 2 (Reuters) - Southeast Asian stock markets
rose on Tuesday as a rally in crude oil markets from five-year
lows helped recoup losses in regional oil and gas stocks and
investors selectively bought  into shares expected to benefit
from lower oil. 
    Malaysia's key index gained 0.4 percent to 
1,785.97, after Monday's 2.3 percent drop to a more than
six-week closing low of 1,778.27.
    Bargain hunting emerged late in the day as the market
slipped to a near oversold territory. The index's 14-day
Relative Strength Index (RSI) closed at 37.2 versus 33.6 on
Monday. A level of 30 or below indicates the market is oversold.
    Beaten-down shares such as Sapurakencana Petroleum 
and UMW Oil and Gas Corporation led the rebound.
    Singapore's Straits Times Index rose 0.5 percent,
coming off a two-week closing low hit on Monday and the Thai SET
index ended slightly higher after hovering in negative
territory during early trade.
    Among bright spots, shares of Thailand's biggest industrial
conglomerate Siam Cement advanced 0.4 percent and 
Indonesia's airline firm Garuda Indonesia jumped 3.7
percent, with brokers citing a positive earnings outlook due to
lower energy costs.       
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 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3322.32       3305.64       +0.50
 Kuala Lumpur       1785.97       1778.27       +0.43
 Bangkok            1594.00       1593.82       +0.01
 Jakarta            5175.79       5164.29       +0.22
 Manila             7344.23       7331.73       +0.17
 Ho Chi Minh         569.43        568.01       +0.25
 Change on year
 Market             Current       End 2013    Pct Move
 Singapore          3322.32       3167.43       +4.89
 Kuala Lumpur       1785.97       1866.96       -4.34
 Bangkok            1594.00       1298.71      +22.47
 Jakarta            5175.79       4274.18      +21.09
 Manila             7344.23       5889.83      +24.69
 Ho Chi Minh         569.43        504.63      +12.84
 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)