May 25, 2016 / 10:12 AM / 2 years ago

SE Asia Stocks-Strong U.S. home sales data boosts risk appetite

By Aparajita Saxena
    May 25 (Reuters) - Southeast Asian stocks closed higher on
Wednesday as investor risk appetite got a boost on data showing
new home sales in the U.S. raced to a more than eight-year peak
in April, while rising global oil prices helped energy shares
    U.S. home prices also hit a record high, with the report
coming in the wake of fairly upbeat data on home resales and
residential construction, offering further evidence of a pick-up
in economic growth early in the second quarter. 
    "Investors are less concerned about the global slowdown
because of upbeat data coming out of the U.S. and Europe," said
Grace Aller, an analyst with Manila-based AP Securities.
    European markets were higher across the board after a debt
deal with Greece.  
    Philippine stocks closed up 1.5 percent, extending
gains into a third session, led by financials. Bank of
the Philippine Islands gained 2.84 pct.
    Crude oil prices nearing $50 levels has been putting a lot
of tailwinds into Philippine markets, said Victor Felix from AB
Capital Securities Inc in Manila.
    U.S. crude prices hit a seven-month high at $49.45 after
industry data suggested a larger-than-expected drawdown in U.S.
crude inventories last week. 
    No surprise moves from an OPEC meeting slated for June 2
will bode well for Philippine stocks, Felix added.
    Indonesia closed higher, rebounding from Tuesday's
losses. Oil and gas company Perusahaan Gas Negara (Persero) Tbk
PT rose 5.2 percent. 
    Financials also gained after Indonesia's central bank said
it may ease monetary policy again next month. 
    Thailand closed up nearly 1 percent, led by energy
stocks, while Malaysia cut early losses to close
marginally higher.
    Singapore's Straits Times index ended 0.6 percent
higher, with shares of oil-rig firm Keppel Corp up 0.8
    Asian shares climbed, with MSCI's broadest index of
Asia-Pacific shares outside Japan rising 1.92
percent, its biggest intraday percentage gain since March 30.
For Asian Companies click;  
  STOCK MARKETS                                        
  Change on day                                        
  Market           Current       Previous     Pct Move
  Singapore        2766.66       2750.23      0.60
  Bangkok          1397.63       1384.26      0.97
  Manila           7463.95       7356.72      1.46
  Jakarta          4772.977      4710.785     1.32
  Kuala Lumpur     1630.96       1625.84      0.31
  Ho Chi Minh      611.89        611.62       0.04
  Change on year                              
  Market           Current       End 2015     Pct Move
  Singapore        2766.66       2882.73      -4.03
  Bangkok          1397.63       1288.02      8.51
  Manila           7463.95       6952.08      7.36
  Jakarta          4772.977      4593.008     3.92
  Kuala Lumpur     1630.96       1692.51      -3.64
  Ho Chi Minh      611.89        579.03       5.68

 (Reporting by Aparajita Saxena; Editing by Biju Dwarakanath)
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