SE Asia Stocks-Most rebound on share buyback, bargain hunting

martes 25 de agosto de 2015 01:29 GYT
 

BANGKOK, Aug 25 (Reuters) - Most Southeast Asian stock
markets rebounded on Tuesday, helped by bargain hunting and
share buyback plans of some companies, with Indonesian benchmark
recovering from over 1-1/2-year low on Monday, but concerns over
China's economy limited further gains.
    The Jakarta composite index rose nearly 2 percent,
regaining some of the 4 percent fall to the lowest close since
December 2013 on the previous day.
    State-controlled firms such as Telekomunikasi Indonesia
 and Bank Mandiri led the rebound after a
cabinet minister said state-owned enterprises are repurchasing
their shares from Tuesday. 
    The Thai SET index was up 0.4 percent, after a
volatile trading. Some large-caps and energy shares such as PTT
Exploration and Production fell amid further routs in
 U.S. stocks and drop in oil prices overnight.
   
    Shares of PTT Global Chemical jumped 6 percent
following a share buyback plan, a day after its stock hit an
all-time closing low. 
    Broker Maybank Kim Eng Securities expected more listed firms
to buy back shares as prices are now undervalued.
    "Although stocks tied to the global economy and
energy/petrochemical stocks will still underperform the market,
their share prices are now trading below -1SD (standard
deviation)," the broker's strategists wrote in a report.
    Singapore's Straight Times Index climbed 1.8
percent, with shares in top three lenders, including DBS Group
Holdings, rising after sharp falls the day
before. 
    "We expect some technical rebound today but this will still
be in the nature of more cautious nibbling," said broker NRA
Capital in a report.
    Indexes of Malaysia and Vietnam both
rebounded from an early slide to new multi-year lows. The
Philippines' benchmark stock index was a tad 0.09 percent
lower after touching a 16-month low in early
trading. 
        
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0501 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2896.04       2843.39       +1.84
 Kuala Lumpur       1545.31       1532.14       +0.86
 Bangkok            1305.89       1301.06       +0.37
 Jakarta            4244.96       4163.73       +1.95
 Manila             6784.67       6791.01       -0.09
 Ho Chi Minh         532.77        526.93       +1.11
 
 (Reporting by Viparat Jantraprap; Additional reporting by
Fransiska Nangoy in Jakarta; Editing by Anand Basu)