SE Asia Stocks-Most up on end-year buying, Singapore falls
BANGKOK, Dec 30 (Reuters) - Most Southeast Asian stock markets rose on Wednesday as end-year portfolio buying lifted the Malaysian index to a more than two-month high and Thai stocks to a near two-week high, with energy shares leading the pack after oil prices rebounded overnight. The Kuala Lumpur composite index rose 0.8 percent to 1,699.59, the highest since Oct. 27. The index is expected to see limited gains in the near term, technically hitting 1,720, Affin Hwang Capital said in a report. "Window dressing continues but after four days up, stock prices are perceived to have moved way ahead of fundamental and technicals averages," the broker said. Top gainers on the index included Malaysia's Petronas Gas , which rose 2.6 percent after a three-percent jump in oil prices overnight. In Bangkok, brokers expect energy shares to help lift the index. "The SET Index is poised to rise moderately on Wednesday, the last trading day of 2015. There is scope for Thai oil and gas shares to rebound," broker KGI Securities said in a report. The SET index was up 0.6 percent at midday, hovering around the highest since Dec. 18, with top energy firm PTT up 1.6 percent. The SET is heading for a nearly 14 percent drop on the year, among Asia's underperformers. The Indonesian stock market saw foreign inflows in select shares such as Bank Rakyat Indonesia, sending the broader index up 0.5 percent. The index was on track for about 12 percent loss on the year. Stock markets in Thailand and Indonesia will be shut on Thursday and Friday for the New Year holiday. The Vietnam index rose 0.3 percent to a near two-week high after the country published a list of business sectors that are open for foreign investment. Singapore bucked the trend, with the key index down 0.5 percent, weighed down by shares of Noble Group Ltd after Moody's Investors Service downgraded the commodity trader's rating to junk. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0627 GMT Market Current Prev Close Pct Move Singapore 2874.55 2888.22 -0.47 Kuala Lumpur 1699.59 1685.36 +0.84 Bangkok 1290.87 1283.78 +0.55 Jakarta 4590.23 4569.36 +0.46 Ho Chi Minh 577.85 576.29 +0.27 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
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