May 17, 2016 / 5:46 AM / 2 years ago

SE Asia Stocks-Rise as oil extends gains; Indonesia flat

By Rushil Dutta
    May 17 (Reuters) - Indonesian shares traded steady on
Tuesday as losses in finance stocks were offset by gains in
other sectors, while other Southeast Asian stock markets rose on
higher oil prices, with Vietnam hitting a nine-month high.
    The Jakarta Finance Index fell more than 1
percent, dragged down by the country's three largest
state-controlled banks.
    Sentiment on banking stocks was hit after Bank Mandiri
, the largest lender by assets, reported a
lower-than-expected first-quarter profit and forecast higher
    "Given the management guidance, we think the banking sector
still poses downside risks, particularly from rising NPL and
noise on lending rate intervention," Trimegah Securities said in
a note.
    Oil futures rose for a second straight session as the market
focused on supply disruptions that prompted long-time bear
Goldman Sachs to issue a bullish assessment on near-term prices.
    Vietnam shares hit a more than nine-month high,
riding on energy stocks. 
    PetroVietnam Gas climbed 3.6 percent, while
PetroVietnam Well & Drilling Services Corp advanced 5.6
    Malaysia was on track for its first gain in three
sessions, while Singapore shares rose to its highest
level since May 5, with oil-rig firm Keppel Corp 
rising 4.5 percent.
For Asian Companies click;  

  STOCK MARKETS                                 
  Change on                                     
  Market         Current     Previous   Pct Move
  Singapore      2771.88     2736.06    1.31
  Bangkok        1406.36     1397.63    0.62
  Manila         7523.57     7511.74    0.16
  Jakarta        4726.147    4731.562   -0.11
  Kuala Lumpur   1632.12     1621.21    0.67
 Ho Chi Minh     620.59      615.78     0.78
  Change on                             
  Market         Current     End 2015   Pct Move
  Singapore      2772.44     2882.73    -3.83
  Bangkok        1406.36     1288.02    9.19
  Manila         7524.23     6952.08    8.23
  Jakarta        4726.147    4593.008   2.90
  Kuala Lumpur   1632.12     1692.51    -3.57
  Ho Chi Minh    620.59      579.03     7.18


 (Reporting by Rushil Dutta in Bengaluru; Additional reporting
by Fransiska Nangoy in Jakarta; Editing by Subhranshu Sahu)
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