SE Asia Stocks-Most rebound; energy, palm oil shares lead
BANGKOK, May 13 (Reuters) - Most Southeast Asian stock markets rebounded on Wednesday as a rise in global oil prices bolstered selective buying into energy and palm plantation stocks, while investors in Asia awaited economic data from China for possible more stimulus. Outperformers were Indonesia's Astra Agro Lestari, Malaysia's IOI Corp and Thai PTT after Malaysian palm oil futures rose to five-week high on Tuesday and global oil prices extended gains on Wednesday. Singapore-listed Wilmar International, an investment holding firm operating in palm oil business, climbed 1.6 percent, the best percentage gainer on the key Straits Times Index which was up 0.4 percent. Several brokers in the region expected the regional rebound to be short-lived. "An uncertain external environment, the continued slowdown in China and also correction in local property prices would mean it is unlikely the market will significantly rally from current levels," Singapore-based broker NRA Capital said in a report. China will release official data on April industrial production at 0530 GMT, as well as retail sales figures for last month and fixed investment. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.5 percent. Thai SET index, which hit a more than four-month closing low amid risk aversion on a weaker baht, rose 0.5 percent. CP All jumped 6.5 percent after it reported strong quarterly earnings. Quarterly earnings of Thai firms have been in line with expectations to date while analysts cut forecast 2015 earnings per share down by only 1.58 percent to 100.22 baht from 101.83 baht at the end of 2014, said broker Maybank Kim Eng Securities. "The further cut is likely to be limited. This will partially support the SET in the near term, awaiting the progress of new government investment," Maybank Kim Eng said. Indonesia's index hit a two-week high and the Philippines touched the highest since May 8. Bucking the trend, Vietnam extended losses, giving up some recent gains which came after the dong devaluation to help exports. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0507 GMT Market Current Prev Close Pct Move Singapore 3455.79 3442.33 +0.39 Kuala Lumpur 1797.97 1798.61 -0.04 Bangkok 1493.65 1485.72 +0.53 Jakarta 5224.98 5205.61 +0.37 Manila 7805.33 7794.55 +0.14 Ho Chi Minh 541.09 544.41 -0.61 (Reporting by Viparat Jantraprap; Editing by Anand Basu)
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