SE Asia Stocks-Most up in holiday-thinned trade; Philippines down
BANGKOK, Dec 29 (Reuters) - Most Southeast Asian stock markets rose on Tuesday, with gains in select large caps bringing key indexes in Malaysia and Indonesia to multi-week highs, but shares in the Philippines fell ahead of a five-day New year holiday. The Philippine index dropped 0.9 percent and headed for a fall of 4.3 percent on the year. Selling hit recent gainers such as Metropolitan Bank and Trust Co, while oil firm Petron Corp fell amid weak global oil prices. The Kuala Lumpur Composite Index hit its highest level since Dec. 2 at 1,678.08, led by Axiata Group Holdings , while the Jakarta Composite Index rose to 4,568.60, the highest level since Nov. 27, with inflows lifting shares of Bank Mandiri. Singapore's Straits Times Index recovered from Monday's weakness and Vietnam extended gains for a fourth session in light volumes amid subdued trading across exchanges in the region. Thailand's SET index was down 0.3 percent at midday, weighed down by a 3.2 percent loss in top energy firm PTT . The index trimmed some early losses after data showed factory output in November was slightly better than expected. The Thai stock market is expected to remain lacklustre in the last two trading days of 2015, strategists at broker Krungsri Securities wrote in a report. "A 3.4 percent overnight drop in crude price could drag Thai energy counters lower, albeit the drop would be mild because energy stocks have fallen recently and partly factored in such a risk," the broker said. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0557 GMT Market Current Prev Close Pct Move Singapore 2886.46 2875.32 +0.39 Kuala Lumpur 1678.08 1670.73 +0.44 Bangkok 1282.16 1285.87 -0.29 Jakarta 4562.22 4557.35 +0.11 Manila 6923.58 6983.61 -0.86 Ho Chi Minh 572.65 569.90 +0.48 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
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