SE Asia Stocks-Higher; Malaysia comes off six-week low
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. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS 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)
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