SE Asia Stocks-Most rebound; energy, palm oil shares lead

miércoles 13 de mayo de 2015 01:25 GYT

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
    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.
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 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)