SE Asia Stocks-Mostly up; Malaysia recovers from 15-month low
JAKARTA, Dec 5 (Reuters) - Southeast Asian stock markets were mostly higher on Friday with Malaysian shares staging a rebound after hitting a 15-month low in the previous session on concerns over falling oil prices. The Malaysian stock index rose 0.2 percent after falling 2.3 percent in the previous two sessions to its lowest since September 2013. "The ringgit was hit quite badly because of concern of oil price, the stocks are rebounding now," said Andri Zakarias, an analyst with BNI Securities in Jakarta. Shares in oil products trader Petronas Dagangan Bhd rose 4.5 percent, extending gains after having hit their lowest since March 2011 on Tuesday. Petronas Chemical Group gained 0.8 percent after Maybank IB Research on Thursday upgraded the stock to 'buy' on cheap valuations. Indonesia rose 0.2 percent to its highest since Sept. 25 on speculation about a possible credit rating upgrade. "Foreign inflow in the past few days has been quite strong. The market is speculating that Standard & Poor's will soon upgrade Indonesia's credit rating after the government cut fuel subsidy," Zakarias said. Among the big gainers, shares PT Matahari Department Store rose 1.9 percent. The Philippines was down 1.3 percent, extending the previous session's 0.8 percent fall. Shares of casino operator Bloomberry Resorts Corp fell as much as 6.3 percent to their lowest in three months on a downgrade of gaming stocks. The Thai stock market is closed on Friday for a public holiday and will reopen on Monday. 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 3319.11 3304.82 +0.45 Kuala Lumpur 1749.12 1745.69 +0.20 Bangkok -- 1597.76 -- Jakarta 5186.72 5177.16 +0.18 Manila 7205.93 7299.85 -1.29 Ho Chi Minh 579.57 578.38 +0.21 (Reporting by Fransiska Nangoy; Editing by Sunil Nair)
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