February 13, 2018 / 4:10 AM / in 8 months

SE Asia Stocks-Extend recovery on Wall Street gain, bargain-hunting

    * Vietnam top gainer
    * Singapore, Indonesia up over 1 pct each

    By Christina Martin
    Feb 13 (Reuters) - Southeast Asian stock markets edged
higher on Tuesday tracking Wall Street which extended gains
after its worst week in two years and as bargain hunters stepped
in to buy battered down stocks.
    Wall Street's three major indexes rebounded on Monday with
broad-based gains, while MSCI's broadest index of Asia-Pacific
shares outside Japan was up more than 1 percent.

    "Asian markets are taking their cue from the U.S. markets
which closed higher yesterday," said Jinshu Liu, director of
research at NRA Capital Pte Ltd, Singapore. 
    "The rebound looks opportune after last week's heavy
sell-off which is probably attracting bargain hunters right
now." 
    Singapore shares rose as much as 1.6 percent, with
financials and industrials accounting for most of the gains,
making it one of the best performers in the region.  
    Oversea-Chinese Banking Corporation Ltd added as
much as nearly 4 percent, its steepest intraday gain since June
2016, while Keppel Corporation Ltd gained as much as
over 2 percent. 
    The top gainer on Singapore's benchmark index was United
Overseas Bank Ltd which rose as much as 3.6 percent,
its biggest intraday percentage gain in over nine months. 
    Vietnam jumped as much as 1.7 percent to over a
one-week high and was on track for a second straight session of
gains, boosted by financial and utility stocks. 
    Joint Stock Commercial Bank for Investment and Development
of Vietnam rose as much as 5.6 percent to its highest
in almost two weeks while oil and gas refining business
Petrovietnam Gas Joint Stock Corp added as much as 5.3
percent. 
    Indonesian shares climbed as much as 1.1 percent to
a one-week high, as financials, telecoms and energy stocks
pushed the index higher. 
    An index of the country's most liquid stocks edged
up over 1 percent.
    Thai shares scaled up as much as 0.4 percent to more
than a one-week high, with gains spread across all sectors,
while Malaysia was flat. 
    Philippine shares snapped three straight sessions of
losses and bounced up as much as 0.6 percent, helped by
industrials and financials. 
    Aboitiz Equity Ventures Inc gained nearly 2
percent, making it the top performer on the main index. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS; Change at 0402 GMT
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3433.73   3384.98         1.44
 Bangkok            1802.23   1799.45         0.15
 Manila             8494.19   8487.91         0.07
 Jakarta            6590.764  6523.454        1.03
 Kuala Lumpur       1832.03   1830.17         0.10
 Ho Chi Minh        1057.66   1041.79         1.52
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3433.73   3402.92         0.91
 Bangkok            1802.23   1753.71         2.77
 Manila             8494.19   8558.42         -0.75
 Jakarta            6590.764  6355.654        3.70
 Kuala Lumpur       1832.03   1796.81         1.96
 Ho Chi Minh        1057.66   984.24          7.46
 

 (Reporting by Christina Martin in Bengaluru; Editing by Vyas
Mohan)
  
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