SE Asia Stocks-Up on rising oil price; Thailand ends near 6-mth high
JAKARTA, April 21 (Reuters) - Southeast Asian stock markets gained on Thursday on an overnight rally in oil prices with the Thai index closing at its highest in nearly six months while Malaysian stocks ended a three-day fall. Thailand's SET index closed at its highest since Oct 27, up 0.6 percent from a day earlier, driven by energy stocks. Shares of PTT PCL, the country's top oil firm, led the gain, climbing 3.3 percent to their highest in eight months. Overnight, oil prices rose 4 percent on a smaller-than-expected build in U.S. crude inventories and as oil bulls bet that major crude producers would meet again to try to curtail output. "In our view, rising oil prices should give Thai energy shares a lift today, but the room for upside in Thai stocks however looks limited in the near term due to a lack of strong buying interest from key investor groups," Phillip Capital in Bangkok wrote in a note. Analysts have warned that stock valuations in Thailand have become expensive after the recent rally. Indonesia's stock index rose 0.5 percent. The mining sub-index outpaced the main index with a 2 percent gain as coal mining stocks benefited from higher oil prices. Malaysian stocks ended up 0.7 percent with gaming conglomerate Genting Bhd posting its biggest one-day gain in three months. Philippine stocks rose 0.8 percent with Ayala Land Inc rebounding from its lowest in over five weeks. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev close Pct move Singapore 2960.78 2949.95 0.37 Kuala Lumpur 1721.47 1708.91 0.73 Bangkok 1423.9 1414.96 0.63 Jakarta 4903.09 4876.6 0.54 Manila 7257.85 7201.37 0.78 Ho Chi Minh 575.73 568.03 1.36 Change on year Market Current End 2015 Pct move Singapore 2960.78 2882.73 2.71 Kuala Lumpur 1721.47 1692.51 1.71 Bangkok 1423.9 1288.02 10.55 Jakarta 4903.09 4593.008 6.75 Manila 7257.85 6952.08 4.40 Ho Chi Minh 575.73 579.03 -0.57 ($1 = 13,173.0000 rupiah) (Reporting by Fransiska Nangoy; Editing by Sunil Nair)
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