SE Asia Stocks -Most higher; Malaysia posts best gain since May 2013
BANGKOK, Dec 22 (Reuters) - Most Southeast Asian stocks rose on Monday as energy shares staged a strong rebound in line with a rise in crude oil prices, with the Malaysian index posting its best gain in more than 19 months and the Thai benchmark closing near a two-week high. Oil rose above $62 a barrel, mirroring gains in equities, as investors became confident there would be no further substantial price loss in the run-up to the new year. Kuala Lumpur's composite index, which measures moves of 30 large-cap stocks, rose 1.6 percent, its best daily gain since May 2013. Sapurakencana Petroleum was the top percentage gainer with a rise of 6.7 percent. Bangkok's SET index finished up 1.5 percent at 1,536.83, the highest closing level since Dec. 9. PTT and PTT exploration and Production rallied more than 4 percent each. "The market performed better than expected today because of inflows from 'domestic trigger funds' and a rally in large-cap energy shares" said Chakkrit Charoenmetachai, a senior analyst with AEC Securities. Traders said the SET index could be capped at a key resistance of 1,555 towards the end of the year due to a lack of foreign investor participation in the holiday season. Singapore's Straits Times Index climbed 1.6 percent, its best single-day rise since September 2013. The Philippine index ended slightly higher and Vietnam jumped 2.8 percent. Indonesia bucked the trend. The index fell 0.4 percent, erasing earlier gains, led by large caps Astra International and Bank Central Asia. 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 3330.96 3279.53 +1.57 Kuala Lumpur 1744.05 1715.99 +1.64 Bangkok 1536.83 1514.35 +1.48 Jakarta 5125.77 5144.62 -0.37 Manila 7139.27 7125.63 +0.19 Ho Chi Minh 537.54 523.09 +2.76 Change on year Market Current End 2013 Pct Move Singapore 3330.96 3167.43 +5.16 Kuala Lumpur 1744.05 1866.96 -6.58 Bangkok 1536.83 1298.71 +18.34 Jakarta 5125.77 4274.18 +19.92 Manila 7139.27 5889.83 +21.21 Ho Chi Minh 537.54 504.63 +6.52 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
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