SE Asia Stocks - Most up on oil shares; Malaysia near 3-week high
BANGKOK, Oct 7 (Reuters) - Southeast Asian stock markets eked out more gains on Wednesday as a jump in global oil prices boosted energy shares, with the Malaysian index hitting a near-three-week high after upbeat August trade data. Kuala Lumpur's composite index traded up 0.4 percent at its highest since Sept. 18 after better-than-expected exports data in August, thanks to rising shipments to Singapore, China and the United States. Jakarta was down 0.4 percent on selling in recently-rallying large-caps such as Telkomunikasi Indonesia . The benchmark hit a more-than-five-week high in early trade as the rupiah jumped to a near-seven-week high and Indonesia's central bank said it saw no room to cut its benchmark interest rate as the ailing currency has strengthened recently. A handful of Southeast Asian oil related-stocks rallied. Sembcorp Marine was up 2.5 percent, Petronas Dagangan gained 4.5 percent and PTT Exploration and Production rose 4.3 percent. Brokers in Bangkok said recovering oil prices prompted investors to cover short positions but caution remained over the broader domestic economy. "The room for further market upside looks limited and there is little scope for a strong flow of foreign funds to return back to Thai stocks until the country's macroeconomic recovery takes hold," broker Phillip Securities said in a report. Indexes in Singapore, Vietnam and the Philippines extended gains for a third straight day amid hopes the U.S. Federal Reserve would likely delay its planned rate hike into 2016. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0500 GMT Market Current Prev Close Pct Move Singapore 2920.69 2897.41 +0.80 Kuala Lumpur 1669.67 1662.51 +0.43 Bangkok 1379.50 1370.69 +0.64 Jakarta 4430.17 4445.78 -0.35 Manila 7057.20 7055.49 +0.02 Ho Chi Minh 583.82 581.29 +0.44 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)
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