SE Asia Stocks-Rebound with Asia, oil prices; Singapore leads
BANGKOK, Feb 15 (Reuters) - Southeast Asian stock markets rose on Monday, with the Singapore benchmark climbing almost 3 percent and key regional indexes reversing recent losses, as sentiment in Asia and the global oil market improved. Singapore's key Straits Times Index was up 2.7 percent at 2,609.26. Among the top gainers, shares of Singapore Telecommunications jumped 4.8 percent after the company issued its earnings forecast for the current financial year. Thai SET index traded up 1.3 percent, recovering from Friday's second straight drop to its lowest close since Jan. 26. Investors hunted for bargains in energy shares such as PTT and PTT Exploration and Production. "We see the energy counters leading the recovery amid a 6.7 percent rise in WTi oil price following renewed speculation on output cut," broker KGI Securities said in a report. Stocks in Malaysia gained after weakness over the past three days while Indonesia and the Philippines both rebounded from falls on Friday. Vietnam was nearly unchanged after early losses. Asian shares snapped a five-session losing streak on Monday as China's central bank fixed the yuan sharply stronger, easing fears of depreciation for now, though a string of weak data from Japan to China and Indonesia suggested the bounce may be short lived. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0750 GMT Market Current previous close Pct Move Singapore 2609.26 2539.95 2.73 Bangkok 1293.46 1276.49 1.33 Manila 6692.58 6654.45 0.57 Jakarta 4739.449 4714.393 0.53 Kuala Lumpur 1655.49 1643.74 0.71 Ho Chi Minh 543.86 544.75 -0.16 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
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