SE Asia Stocks - Most weak as oil shares fall; airline stocks gain

martes 9 de diciembre de 2014 00:40 GYT

BANGKOK, Dec 9 (Reuters) - Southeast Asian markets fell on
Tuesday as energy shares extended losses after crude oil dived
to new five-year lows but bargain-hunting emerged in shares of
airlines, which are seen to benefit from lower oil prices.
    Oil and gas shares and commodities stocks led top losers on
regional indexes, including Malaysia's Sapurakencana Petroleum
, Singapore's Olam International, Thailand's
PTT and Indonesia's Indo Tambangraya Megah.
    Oil dived 4 percent to new five-year lows on Monday, as Wall
Street expectations of a deeper price slump next year and a
Kuwaiti prediction for $65 crude set off one of the biggest
declines this year. 
    Kuala Lumpur's composite index hovered around a
level last seen in September 2013, while Jakarta's composite
index fell for a second session and the Philippine index
 eased 0.6 percent.
    Airline stocks outperformed, with Garuda Indonesia 
climbing for a third session to its highest since May 2013 and
and Philippine Cebu Air rallying to its highest since
May 2013.
    Shares of Singapore Airlines hit their highest
since November 2011, climbing 1.6 percent, adding to a rally of
almost 4 percent over the past five trading days. 
    Singapore's Straits Times Index was up 1 percent,
bucking the decline in the region.
    In Bangkok, consumer-related stocks including banks 
and property rose ahead of a cabinet meeting expected
to announce short-term economic measures to boost domestic
    The broader SET index edged down 0.3 percent at
1,570.93, earlier slipping to 1,563.83, the lowest since Nov.
13. The index is expected to move between 1,560-1,585 for the
day, said strategists at broker Phillip Securities.
    "A new round of economic stimulus measures on the cabinet's
agenda today will be on the market's radar screen," they wrote
in a report.
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 Change at 0408 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3327.92       3297.84       +0.91 
 Kuala Lumpur       1737.27       1740.84       -0.21
 Bangkok            1573.34       1575.55       -0.14
 Jakarta            5135.50       5144.01       -0.17
 Manila             7176.23       7230.56       -0.75
 Ho Chi Minh         562.59        571.68       -1.59
 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)