SE Asia Stocks -Indonesia rebounds; energy shares lift Thai index above 1,600
BANGKOK, Feb 3 (Reuters) - Indonesia's main stock index rose on Tuesday as fund inflows lifted banking shares, while the Thai benchmark broke above the key 1,600-level as a rebound in crude oil prices triggered buying interest in select large-cap energy shares. Asian stocks gained on Tuesday as hopes for an agreement on Greece's debt situation lifted risk appetite. The Jakarta composite index traded 0.4 percent higher, recovering from a loss on Monday. Shares of Bank Mandiri, Bank Rakyat Indonesia and Bank Negara Indonesia were among those actively traded as foreign investors led buyers, Thomson Reuters data showed. Lower-than-expected inflation in January and interest rate outlook underpinned sentiment, brokers said. "Combined with the possibly declining deposit rates, this should be positive for banking sector," broker Trimegah Securities said in a report. Bangkok's SET index was up 1.1 percent at 1,600.06, led higher by a 4.4 percent gain in shares of energy explorer PTT Exploration and Production and a 2.8 percent jump in shares of top energy firm PTT. Broker Maybank Kim Eng Securities advised investors to accumulate stocks when the index contracts during trading hours. "The market correction should end soon, rebound and break the 1,600 level, supported by the improving fourth quarter earnings of Thai listed companies and the recovering price of oil," it said in a report. Singapore's key index reversed gains from the previous day while the Philippine index was on course for a second straight day of falls, further pulling away from a record close of 7,689.91 hit on Jan. 30. Vietnam eased 0.5 percent, poised for a fourth consecutive day of loss. Malaysia remained closed on Tuesday, will reopen on Wednesday. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0401 GMT Market Current Prev Close Pct Move Singapore 3410.57 3423.35 -0.37 Bangkok 1600.06 1582.70 +1.10 Jakarta 5297.65 5276.24 +0.41 Manila 7582.04 7630.71 -0.64 Ho Chi Minh 567.07 570.37 -0.58 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
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