SE Asia Stocks-Up on rising oil price; Thailand ends near 6-mth high

jueves 21 de abril de 2016 06:29 GYT
 

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.
            
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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)