SE Asia Stocks-Most up ahead of holidays; Thai index recovers

miércoles 23 de diciembre de 2015 03:15 GYT

BANGKOK, Dec 23 (Reuters) - Most Southeast Asian stock
markets rose on Wednesday, with key indexes in Singapore and the
Philippines hovering around multi-week highs ahead of market
holidays, while the Thai benchmark snapped losing streaks amid
short-covering in telecoms stocks.
    The key SET index advanced 1 percent, regaining some
losses over the past three trading days, with beaten-down shares
such as Total Access Communication leading the market
    Positive sentiment in the region would support a recovery in
the Thai market on the day, brokers said. 
    "We also expect less pressure from foreign equity outflows
as the long holidays are approaching on the foreign side while
the selling spree on telecom stocks should have peaked," said
broker KGI Securities in a report.
    Singapore's key Straits Times Index extended gains
for a second day, up 0.5 percent to its highest since Dec. 9.
Shares of DBS Group Holdings and Oversea-Chinese
Banking Corporation were top two gainers.
    Data early on the day showed the city-state's core inflation
unexpectedly slowed in November due to lower food and services
    In Kuala Lumpur, the key stock index was up 0.9
percent, with oil and gas service firm Sapurakencana Petroleum
 climbing along with positive global oil prices. 
    Malaysia's annual inflation rate in November was 2.6
percent, higher than forecast, reflecting rises in prices for
consumer goods. 
    The key stock index in the Philippines was up 0.3
percent, hitting the highest since Dec. 3. Indonesia 
drifted into negative territory after early modest gains and
Vietnam eased 0.6 percent to a more than one-week low.
    Stock markets in the Philippines, Malaysia and Indonesia
will be closed on Thursday and Friday for public holidays.
Singapore will trade half-day on Thursday, and will shut on
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 Change at 0658 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2865.92       2852.97       +0.45
 Kuala Lumpur       1657.69       1643.26       +0.88
 Bangkok            1273.74       1261.66       +0.96
 Jakarta            4504.57       4517.57       -0.29
 Manila             6989.25       6966.18       +0.33
 Ho Chi Minh         563.08        566.35       -0.58
 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)