SE Asia Stocks -Philippines rebounds ahead of rate decision; others up

miércoles 24 de junio de 2015 01:55 GYT

BANGKOK, June 24 (Reuters) - Most Southeast Asian stock
markets rose in light volume on Wednesday as investors
cautiously built positions amid hopes of a Greek debt deal, with
Philippine large-caps rebounding a day ahead of the central
bank's meeting on interest rates.
    The Philippine composite index was up 0.5 percent
after a 0.8 percent fall on Tuesday to a near one-week low.
Metropolitan Bank and Trust Co, the most
actively-traded stock, gained 1 percent.
    All 16 economists in a Reuters poll predicted the central
bank would leave the overnight borrowing rate 
unchanged at 4.0 percent, confident that increased government
spending would help the economy regain steam. 
    Trading volume in Manila fell to just 28 percent of the
full-day average over the past 30 days, similar to most others
in the region.
    In Bangkok, the SET index was up 0.8 percent at
midday, recovering from the previous day's weakness.
    Oil prices, which edged higher on hopes of
stronger-than-expected U.S. crude demand, helped lift energy
shares such as PTT and PTT Global Chemical.
    "Both will continue to benefit from higher crude oil prices
and are expected to post robust second-quarter earnings and will
be window-dressing targets," strategists at broker Krungsri
Securities wrote in a note to clients.
    Investors chose to be optimistic on the chances of a Greek
debt deal, helping Asian shares rally for a sixth straight
session while the dollar held broad gains as the prospect of
U.S. rate rises came back on the radar. 
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 Change at 0534 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3347.98       3339.78       +0.25
 Kuala Lumpur       1726.17       1726.86       -0.04
 Bangkok            1515.59       1503.23       +0.82
 Jakarta            4962.74       4937.65       +0.51
 Manila             7585.41       7551.56       +0.45
 Ho Chi Minh         593.77        593.07       +0.12
 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)