SE Asia Stocks-Flat to higher after China GDP data; energy shares rebound
BANGKOK, Jan 19 (Reuters) - Most Southeast Asian stock markets were trading flat to higher on Tuesday as China's economy grew in line with expectations in the fourth quarter and a rebound in global oil prices lifted battered energy shares in the region. Key indexes in Thailand and Vietnam led the region's rebound, with energy-related stocks such as PetroVietnam Gas and PTT recouping from recent losses. China's fourth quarter GDP growth of 6.8 percent, matching expectations, bolstered sentiment in the Thai market, with investor focus shifting to bank earnings, broker Maybank Kim Eng Securities said in a report. "If earnings are in line, we expect more sector rotation as oil prices will remain weak, despite some rebound," the broker said in a report. Among top gainers, shares of Siam Commercial Bank advanced 2.2 percent and TMB Bank was about 1 percent higher ahead of 2015 and fourth quarter earnings releases expected later in the day. Stocks in Singapore, Malaysia, Indonesia and the Philippines were either little changed or a notch lower. Oil prices stabilised on Tuesday, supported by strong Chinese fuel consumption and halting a slide to 2003 levels earlier in the week, while Asian stocks rose modestly as a lack of negative surprises offered the market a slight reprieve. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0526 GMT Market Current Previous close Pct Move Singapore 2595.37 2593 0.09 Bangkok 1256.17 1245.05 0.89 Manila 6328.46 6335.09 -0.10 Jakarta 4470.809 4481.276 -0.23 Kuala Lumpur 1625.53 1622.64 0.18 Ho Chi Minh 529.19 526.37 0.54 (Reporting by Viparat Jantraprap; Additional reporting by My Pham in Hanoi; Editing by Biju Dwarakanath)
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