SE Asia Stocks-Most higher; Thai telecom shares recover
BANGKOK, Dec 22 (Reuters) - Southeast Asian stock markets rose on Tuesday, with Malaysia's key index recovering amid a rally in shares of Axiata Group following an acquisition plan while beaten-down Thai telecom shares recouped after recent losses. The Kuala Lumpur composite index was up 0.3 percent after an almost two percent drop over the past two days. Axiata shares, the most actively traded, jumped 3 percent due to its plan to acquire Nepal's mobile operator, brokers said. Bangkok's SET index traded up 0.07 percent. Shares of Total Access Communication surged 9 percent while True Corporation jumped 3.8 percent. "Global stocks and the oil market are stabilizing while Thailand's telecom sector has plunged about 15 percent to discount a worsening industry landscape, so the local market should stabilize," said broker KGI Securities. The Philippine key index extended gains for a second straight day, adding 0.8 percent to a near three-week high while gains in Singapore, Indonesia and Vietnam were relatively lower. Trading volumes on most exchanges were lower than half a full-day average over the past 30 days ahead of public holidays later in the week. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0751 GMT Market Current Prev Close Pct Move Singapore 2854.66 2845.55 +0.32 Kuala Lumpur 1634.80 1629.09 +0.35 Bangkok 1264.51 1264.44 +0.01 Jakarta 4490.75 4490.68 0.00 Manila 6966.18 6910.34 +0.81 Ho Chi Minh 567.20 566.90 +0.05 (Reporting by Viparat Jantraprap; ; Editing by Biju Dwarakanath)
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