SE Asia Stocks - Up; energy shares rise with oil prices

lunes 22 de diciembre de 2014 00:33 GYT
 

BANGKOK, Dec 22 (Reuters) - Southeast Asian stock markets
rose on Monday, with indexes in Malaysia and Indonesia hitting
their highest in more than a week as bargain hunting lifted
shares of battered energy firms amid a rise in oil prices.
    Oil prices rose in early trade, after a strong rebound on
Friday, as consensus spread that Brent crude would likely remain
above $60 for the rest of the year. 
    Shares of Malaysia's Sapurakencana Petroleum,
Singapore's Keppel Corp, Indonesia's Indo Tambangraya
Megah, and Thailand's PTT recouped some of
their recent losses.
    Stocks in Malaysia and Indonesia both rose
for a fourth session to their highest since Dec. 12. Singapore's
Straits Times Index gained almost 1 percent, its fourth
straight gain.
    The Philippine main index was up 0.3 percent while
Vietnam jumped 2.2 percent.
    Thailand's SET index edged up 0.6 percent after last
week's modest loss. 
    Brokers in Bangkok said the market found support on buying
interest by domestic institutions.
    "Local institutional investors should continue to support
the market as their investment units see more liquidity
injection from LTF buying and the launching of a number of
trigger funds last week," KGI Securiites said in a report.
    Long-term equity funds (LTF) are more popular towards the
end of the year due to a favourable tax treatment of the funds.
Trigger funds focus on "long only" strategies and are redeemed
when the index hits a target level.
    Institutional investors were net buyers of Thai shares for a
combined 20.4 billion baht ($621.38 million) over the past four
consecutive sessions while foreign investors were net sellers of
a combined 15.4 billion baht worth of shares. 
        
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0407 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3306.98       3279.53       +0.84
 Kuala Lumpur       1740.51       1715.99       +1.43
 Bangkok            1522.98       1514.35       +0.57
 Jakarta            5147.91       5144.62       +0.06
 Manila             7149.80       7125.63       +0.34
 Ho Chi Minh         535.48        523.09       +2.37
 ($1 = 32.8300 baht)

 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)