SE Asia Stocks-Most higher; Philippine heads for 7th straight closing high

martes 7 de abril de 2015 01:02 GYT

BANGKOK, April 7 (Reuters) - Southeast Asian stock markets
rose on Tuesday as energy shares gained on recent jumps in oil
prices, with the Philippine index heading for a record closing
high for the seventh straight day after inflation data suggested
policy rates would remain steady.
    The Philippine main index traded up 0.68 percent at
8,108.23. It earlier hit 8,136.97, surpassing Monday's sixth
straight record close of 8,053.74.
    Data early on Tuesday showed the Philippines' annual
inflation came in slower than expected in March, giving the
central bank more leeway to keep its policy rates steady.
    The Philippine central bank's governor said on Tuesday the
monetary policy remained appropriate but it was ready to make
adjustments if needed as it monitored commodity prices and
changes in market sentiment. 
    Energy related shares led among top percentage gainers
across exchanges, including Malaysia's Tenaga Nasional
, Thailand's PTT Exploration and Production 
and Philippine Energy Development Corporation.
    Oil prices jumped more than 5 percent on Monday as traders
reassessed how quickly Iran might increase exports after a
preliminary nuclear deal and anticipated that a months-long rise
in U.S. crude inventories may be slowing. 
    Oil futures eased on Tuesday after Goldman Saches 
said prices needed to remain low for months to achieve a
slowdown in U.S. output growth.
    Malaysia's main index was up 0.57 percent, on track
for a fourth straight gain, Singapore was up 0.48
percent, having hit 3,476.20, the highest since December 2007
and Indonesia added 0.71 percent, extending Monday's
    Thai SET index rose 0.89 percent, resuming after a
market holiday on Monday. Brokers in Bangkok said they expected
further market upside on the day.
    "Much lower-than-expected U.S. non-farm payrolls could cause
the Fed to delay raising interest rates, which would result in
funds flowing into emerging stock markets," strategists at
broker Krungsri Securities said in a report.
    "Yesterday's steep jump in oil prices should provide
positive sentiment for energy and petrochemical stocks," the
report said.
    Asian stocks followed a positive lead from Wall Street to
rise on Tuesday, while the dollar held onto its gains after
rebounding against the euro and yen on higher U.S. Treasury
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 Change at 0441 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3469.54       3452.91       +0.48
 Kuala Lumpur       1853.45       1842.94       +0.57
 Bangkok            1549.74       1536.05       +0.89
 Jakarta            5519.19       5480.03       +0.71
 Manila             8108.23       8053.74       +0.68
 Ho Chi Minh         544.28        542.97       +0.24
 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)