SE Asia Stocks- Malaysian shares post biggest gains in two weeks

miércoles 10 de diciembre de 2014 02:00 GYT

JAKARTA, Dec 10 (Reuters) - Southeast Asian stock markets
mostly rose on Wednesday, with Malaysia leading the gains as it
rebounded from a 15 month-low.
    The Malaysian stock index rose 0.9 percent, its
biggest gain in more than two weeks, after the previous
session's lowest close since September 2013 on concerns over
declining crude oil prices.
    "Investors have started to accumulate selective stocks in
Malaysia. The decline earlier this week has brought prices
fairly low," said Reza Priyambada, head of research at Woori
Korindo Securities in Jakarta.
    Latex products manufacturer Hartalega Holdings Bhd 
rose 1.5 percent after Maybank IB Research upgraded the stock to
'buy' and raised its target price, citing its earnings profile
and saying it was benefiting from a stronger US dollar against
the ringgit.
    Indonesia's Jakarta Composite Index rebounded from a
two-week low, gaining 0.3 percent for the day.
    Shares in PT Bank Rakyat Indonesia, the country's
second largest lender by assets, rose 1.8 percent on Wednesday
after Indonesian brokerage Danareksa reiterated its 'buy' rating
on the stock, citing a "well-managed deposits structure and
resilient margins".
    The Singapore index rose 0.3 percent, while
Philippine stocks fell 0.4 percent.
    The Thai stock market was closed on Wednesday for a public
holiday and will reopen on Thursday.
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 Change on 0502 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3328.94       3319.84       +0.27
 Kuala Lumpur       1754.01       1738.10       +0.92
 Bangkok              --          1559.56         -- 
 Jakarta            5136.92       5122.31       +0.29
 Manila             7153.22       7183.87       -0.43
 Ho Chi Minh         554.55        555.31       -0.76
 (Reporting by Fransiska Nangoy; Editing by Anupama Dwivedi)