April 7, 2016 / 10:32 AM / 2 years ago

SE Asia Stocks-Mostly up; Philippines jumps most in nearly 3 weeks

JAKARTA, April 7 (Reuters) - Most 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
    The Philippine index rose 0.7 percent, its biggest
single-day percentage gain in nearly three weeks. Shares of oil
company Petron Corp led the rally with a gain of 3.53
percent, their largest since March 23.   
    Malaysia rose 0.4 percent, while Vietnam 
gained 0.7 percent, supported by food and energy shares.
    Oil prices extended gains on inventory concerns and dollar
weakness, lending support to energy-based stocks. 
    "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.
    Indonesia closed slightly lower, dragged down by
profit-taking in the country's biggest listed company, cigarette
maker PT HM Sampoerna Tbk. The stock fell 1.5 percent,
after gaining 4 percent in the previous two sessions.
    After market hours on Thursday, HM Sampoerna said it would
conduct a stock split to increase its liquidity and attract more
retail investors. 
    Thailand's SET Index fell 1.2 percent on Thursday,
its fifth straight session of falls, as Goldman Sachs cuts
target prices for several banking stocks, including Bangkok Bank
Pcl and Siam Commercial Bank Pcl. 
For Asian Companies click;  

 Change on day                                   
 Market           Current   Prev close  Pct move
 Singapore         2813.59     2811.25       0.08
 Kuala Lumpur      1724.29     1717.01       0.42
 Bangkok           1356.69     1373.59      -1.23
 Jakarta           4867.28     4868.23      -0.02
 Manila            7232.97     7180.55       0.73
 Ho Chi Minh         571.6      567.79       0.67
 Change on year                                  
 Market           Current    End 2015   Pct move
 Singapore         2813.59     2882.73      -2.40
 Kuala Lumpur      1724.29     1692.51       1.88
 Bangkok           1356.69     1288.02       5.33
 Jakarta          4867.285    4593.008       5.97
 Manila            7232.97     6952.08       4.04
 Ho Chi Minh         571.6      579.03      -1.28
 (Reporting by Fransiska Nangoy; Editing by Subhranshu Sahu)
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