SE Asia Stocks -Most up on Greek debt hopes; MERS-hit Thai shares rebound
BANGKOK, June 22 (Reuters) - Most Southeast Asian stock markets rose on Monday amid hopes about Greek debt deal, with Thai benchmark recovering from a more than two-week closing low hit on Friday amid short covering in tourism related stocks. Thai SET index was up 0.6 percent at 1,500.45, bouncing off Friday's close of 1,491.46. The country's first case of Middle East Respiratory Syndrome (MERS) report and international aviation agency's safety rating downgrade prompted selloff in aviation and hotel shares late last week. "We believe prices already reflect risks, and we see a potential rebound in the short term," strategists at broker Krungsri Securities wrote in a report. Shares of airport operator Airports of Thailand, the most actively traded on the index, jumped 2.1 percent after a drop to a one-month low on Friday. Asian shares got the week off to a strong start and U.S. stock futures and the euro firmed on Monday, after Greece scrambled to avert defaulting on its debt with last-minute proposals aimed at appeasing its creditors. Indexes in Singapore and Malaysia both rose about 0.6 percent, while Vietnam's benchmark VN Index climbed 1.02 percent, led by dairy product maker Vinamilk after it announced a dividend plan. The Philippines was nearly flat. Indonesia bucked the trend, edging down 0.4 percent after a near two-week closing high on Friday, with selling hit recent gainers such as Telkom Indonesia and Bank Mandiri. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0610 GMT Market Current Prev Close Pct Move Singapore 3321.69 3300.96 +0.63 Kuala Lumpur 1732.88 1721.77 +0.65 Bangkok 1500.45 1491.46 +0.60 Jakarta 4964.82 4985.00 -0.40 Manila 7601.43 7601.17 +0.00 Ho Chi Minh 590.68 584.70 +1.02 (Reporting by Viparat Jantraprap; Editing by Anand Basu)
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