June 27, 2018 / 4:15 AM / 6 months ago

SE Asia Stocks-Most rise; Philippines, Thailand top gainers

    * Philippine shares build on Tuesday's gains
    * Oil stocks boost Thai index

    By Ambar Warrick
    June 27 (Reuters) - Most Southeast Asian stock markets rose
on Wednesday, with the Philippines extending its recovery, as
Wall Street's gains assuaged investor worries over a global
equity sell-off and trade uncertainties.
    U.S. stocks found their footing overnight, helped by gains
in the energy, technology and consumer discretionary sectors
after a sharp sell-off a day earlier on spiralling global trade
tensions.
    "A minor recovery in the U.S. is a welcome development for
most stocks in the region," said Manny Cruz, an analyst with
Asiasec Equities Inc.
    Philippine stocks jumped as much as 1.5 percent,
recouping the losses at the start of the week.
    "Apart from bargain-hunting, there is also the traditional
window-dressing before the quarter-end, so that has inspired
some buying appetite on select stocks," Cruz said.
    Real estate company Ayala Land rose more than 2
percent, while another market heavyweight SM Investments Corp
 gained nearly 4 percent. 
    However, Cruz said further headwinds were expected for the
Philippine market, particularly from global trade tensions as
well as a weaker peso.
    Thai markets also rose, with energy stocks taking
the lead as oil and gas explorer PTT PCL rose more than
1 percent on stronger oil prices.
    The stock was the biggest boost to the benchmark index. 
    Oil prices firmed following supply disruptions in Libya and
Canada and after U.S. officials told oil importers to stop
buying Iranian crude from November.
    Indonesian stocks firmed about 0.5 percent with
energy and telecom companies posting strong gains. Coal miner
Bayan Resources jumped 18 percent, while
Telekomunikasi Indonesia rose more than 1 percent.
    The index of the region's 45 most liquid stocks
rose 0.2 percent.

    
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SOUTHEAST ASIAN STOCK MARKETS
    
 Change as at 0411                            
 GMT                                          
 Market             Current   Previous close  Pct Move
 Singapore          3287.35   3280.87         0.20
 Bangkok            1635.33   1623.98         0.70
 Manila             7114.07   7007.21         1.53
 Jakarta            5851.988  5825.649        0.45
 Kuala Lumpur       1675.9    1675.86         0.00
 Ho Chi Minh        983.81    983.02          0.08
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3287.35   3402.92         -3.40
 Bangkok            1635.33   1753.71         -6.75
 Manila             7114.07   8558.42         -16.88
 Jakarta            5851.988  6355.654        -7.92
 Kuala Lumpur       1675.9    1796.81         -6.73
 Ho Chi Minh        983.81    984.24          -0.04
 
 (Reporting by Ambar Warrick in Bengaluru; Editing by Amrutha
Gayathri)
  
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