April 7, 2016 / 4:56 AM / 2 years ago

SE Asia Stocks-Trade higher on cautious Fed tone, rising oil prices

JAKARTA, April 7 (Reuters) - Southeast Asian stock markets
rose on Thursday on higher oil prices and easing concerns about
an April U.S. interest rate increase following cautious comments
by policy makers in the U.S. Federal Reserve minutes.
    The Philippine index rose 0.4 percent, led by
property developer Robinsons Land Corp with a 2.3
percent gain.
    "The release of the minutes of the Fed's March FOMC meeting
showed that some members of the committee favour an April
interest rate hike while most urged caution in the face of
financial uncertainty," said Taye Shim, head of research at KDB
Daewoo Securities Indonesia.
    The Fed's caution lifted appetite for Southeast Asian
    Indonesia's stock index gained 0.4 percent led by
energy stocks. Coal miner PT Bayan Resources Tbk 
gained 5.3 percent, while state gas distributor PT Perusahaan
Gas Negara Tbk rose 2 percent. 
    Oil prices extended gains on inventory concerns and dollar
weakness, lending support to energy-based stocks. 
For Asian Companies click;  

 Change 0431 GMT                                   
 Market             Current   Prev close  Pct move
 Singapore            2820.7     2811.25       0.34
 Kuala Lumpur        1720.58     1717.01       0.21
 Bangkok              1375.1     1373.59       0.11
 Jakarta             4889.31     4868.23       0.43
 Manila              7209.14     7180.55       0.40
 Ho Chi Minh          567.83      567.79       0.01
 (Reporting by Fransiska Nangoy; Editing by Sunil Nair)
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