SE Asia Stocks-Up on oil prices; rate play lifts Thai shares
BANGKOK, April 24 (Reuters) - Southeast Asian stock markets rose on Friday, led by oil related shares such as Sapurakencana Petroleum Bhd and PTT Pcl, following gains in oil prices and as a fresh record for the Nasdaq bolstered sentiment in the broader Asia market. Malaysia's key index traded up 0.7 percent after two straight days of falls and on track to add 0.7 percent on the week, a sixth straight week of gain. Shares of oil and gas service firm Sapurakencana jumped 4.1 percent, the second-best performer on MSCI's index of Southeast Asia after global oil prices reached 2015-highs in the previous session. The Thai key SET index, which fell to a near three-week low on Thursday, rebounded 0.3 percent, trimming the week's likely loss to 1.1 percent. Top energy firm PTT and its energy explorer subsidiary PTT Exploration and Production both climbed about 2 percent. Bargain hunting continued in interest rate sensitive stocks as investors expected the Thai Monetary Policy Committee (MPC) to cut its policy interest rate at a meeting on Wednesday. Property developer Pruksa Real Estate climbed 1.8 percent, the best performer on the SET 50 index. "Many foreigners are slowing investment, awaiting the MPC's decision on the one-day repurchase rate," said broker Maybank Kim Eng Securities in a report. Investors also awaited key monetary policy moves next week from the U.S. Federal Reserve, brokers said. An index of Asian shares rose on Friday, on track for a weekly gain as a fresh record for the Nasdaq helped nudge it toward seven-year highs, while the dollar marched in place after more lacklustre U.S. economic data. In Singapore, firmer oil prices also boosted stocks of Keppel Corporation, with the key Straits Times Index up 0.06 percent, trimming a likely weekly loss to 0.6 percent. Weekly performances were mixed elsewhere, with Indonesia on track for a weekly gain of 0.5 percent, the Philippines heading for a second straight weekly loss of 0.4 percent and Vietnam poised for a 0.6 percent weekly drop. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0504 GMT Market Current Prev Close Pct Move Singapore 3504.83 3502.75 +0.06 Kuala Lumpur 1858.49 1846.08 +0.67 Bangkok 1552.37 1544.84 +0.49 Jakarta 5437.39 5436.21 +0.02 Manila 7914.74 7892.05 +0.29 Ho Chi Minh 564.72 561.25 +0.62 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
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