May 17, 2016 / 10:07 AM / in 2 years

SE Asia Stocks-Rise on higher oil; Vietnam, Singapore lead

By Rushil Dutta
    May 17 (Reuters) - Most Southeast Asian stocks rose on
Tuesday, led by energy stocks as global oil prices climbed for a
second day to a near 6-month high, with Vietnam up 1.5 percent
to hit its highest since July.
    Oil traded at around $49 a barrel supported by supply
outages in Nigeria, Canada and other producers that are eroding
a persistent glut. 
    Vietnam closed at a more than nine-month high, riding
on energy stocks. The smallest of the six main Southeast Asian
markets has gained 6.3 percent this year as of Monday's close.
    "Short-term movements are hard to predict and volatility is
always there but I expect the market to remain resilient
throughout the rest of 2016," said Dang Van Phap, research
manager at Viet Capital Securities.
    PetroVietnam Gas finished 6.3 percent higher, while
PetroVietnam Well & Drilling Services Corp was up 6.7
    Singapore shares closed at a 2-week high, with
oil-rig firm Keppel Corp up 4.5 percent and offshore
engineering firm Sembcorp Marine closing nearly 8
percent higher.
    Malaysia rose about 1 percent ahead of a central bank
decision on interest rates on Thursday. SapuraKencana Petroleum
 was up 1.9 percent. 
    Bank Negara Malaysia will likely hold its overnight policy
rate at 3.25 percent on expectations economic
growth will improve in the coming quarters, a Reuters poll
    Indonesia dipped slightly as financials took a hit,
with the Jakarta Finance Index closing more than 1
percent lower, dragged down by the country's three largest
state-controlled banks.
    "Given the management guidance, we think the banking sector
still poses downside risks, particularly from rising NPL
(non-performing loans) and noise on lending rate intervention,"
Trimegah Securities said in a note.
    Thai stocks were 0.6 percent higher, led by telecomm
services and energy shares.
    Broader Asian shares rose, with MSCI's broadest index of
Asia-Pacific shares outside Japan up 0.9
percent, extending its recovery from a two-month low set on
For Asian Companies click;  

  STOCK MARKETS                                 
  Change on day                                 
  Market         Current     Previous   Pct Move
  Singapore      2781.11     2736.06    1.65
  Bangkok        1406.57     1397.63    0.64
  Manila         7524.84     7511.74    0.17
  Jakarta        4729.156    4731.562   -0.05
  Kuala Lumpur   1633.39     1621.21    0.75
  Ho Chi Minh    624.75      615.78     1.46
  Change on                             
  Market         Current     End 2015   Pct Move
  Singapore      2781.11     2882.73    -3.53
  Bangkok        1406.57     1288.02    9.20
  Manila         7524.84     6952.08    8.24
  Jakarta        4729.156    4593.008   2.96
  Kuala Lumpur   1633.39     1692.51    -3.49
  Ho Chi Minh    624.75      579.03     7.90

 (Reporting by Rushil Dutta in Bengaluru; Additional reporting
by Fransiska Nangoy in Jakarta and My Pham in Hanoi; Editing by
Biju Dwarakanath)
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