SE Asia Stocks-Philippines, Indonesia lead regional rebound

martes 12 de enero de 2016 02:54 GYT
 

BANGKOK, Jan 12 (Reuters) - Most Southeast Asian stock
markets rose on Tuesday, led by the Philippines and Indonesia as
investors bought back recently battered shares, although caution
remained over China's stock markets and weak global oil prices.
    The Philippine composite index climbed 1.4 percent
after a 4.4 percent drop on Monday. HSBC upgraded the
Philippines to "overweight," partly reflecting a decline in
market valuations and robust domestic demand in an election
year. 
    The Jakarta composite index advanced 1.2 percent,
rebounding from a near four-week closing low on the day before.
    Gains in Malaysia and Vietnam were relatively
small, while Singapore and Thailand retreated
from early highs. Investors in most parts were more reluctant to
chase share prices, according to brokers.
    "Singapore shares staged a feeble rebound this morning but
the advance failed to gain traction as traders remained
unconvinced about it sustainability," Singapore-based NRA
Capital said in a midday report.
    Asian shares, as measured by MSCI's broadest index of
Asia-Pacific shares outside Japan eased 0.2
percent while China stocks rose as financial stocks bounced and
the offshore yuan strengthened on suspected state bank
intervention.  
    Thai PTT Exploration and Production and
Singapore's Keppel Corp were among top large cap
losers as weak crude oil prices dented sentiment. 
    "Market gains should be limited by continued concerns about
a shaky Chinese economy and weak oil prices. There is no real
new local catalyst to bolster the SET at the moment," said
broker Asia Wealth Securities in Bangkok.
        
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0639 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2694.59       2708.85       -0.53
 Kuala Lumpur       1642.22       1637.59       +0.28
 Bangkok            1233.95       1234.50       -0.04
 Jakarta            4513.27       4465.48       +1.07
 Manila             6379.53       6288.26       +1.45
 Ho Chi Minh         559.23        557.87       +0.24
 
 (Reporting by Viparat Jantraprap; Editing by Anand Basu)