SE Asia Stocks-Singapore shares rise on oil price gains, Philippines down

By Aparajita Saxena

May 26 (Reuters) - Southeast Asian share markets were mixed

on Thursday as Singapore's energy stocks gained after oil prices

hit a seven-month high, while Philippine stocks fell on what

analysts said was a technical correction.

The Philippine index led losses in the region with a

1.3 percent fall, snapping a three-session rising streak and

heading towards its worst intraday performance since last

Friday.

"The decline in the Philippine market is a normal technical

move - rising oil prices may be a reason for some people to take

some profit, but this is a market correction more than anything

else," said Joseph Roxas, an analyst at Manila-based brokerage

firm Eagle Equities.

Shares of conglomerate J.G. Summit Holdings Inc led

the losses among industrial stocks, falling 9.05 percent after

the company announced a discounted share sale, triggering some

selling pressure.

The biggest percentage leader in the region was Singapore's

Straits Times index, up marginally for a second day, led

by oil and gas shares.

Brent oil futures climbed above $50 a barrel for the first

time in nearly seven months after U.S. government figures showed

a sharper-than-expected drawdown in crude stocks last week.

Shares of oil-rig company Keppel Corp rose 2.28

percent while those of offshore-driller Sembcorp Marine

were up 1.3 percent.

Vietnam shares fell 0.62 percent, snapping two sessions of

marginal gains, while Indonesian stocks fell 0.19 percent,

surrendering their slight gains from early trading.

The Thai index rose marginally, with financial

stocks leading the gains, followed by energy shares.

Shares in oil and gas company PTT PCL were up 0.33

percent, retaining gains from the previous session.

MSCI's broadest index of Asia-Pacific shares outside Japan

was almost flat, struggling to extend its

rebound from Tuesday's 12-week low.

STOCK MARKETS

Change at 0502

GMT

Market Current previous Pct Move

close

Singapore 2782.55 2766.66 0.57

Bangkok 1400.48 1397.63 0.20

Manila 7366.58 7463.95 -1.30

Jakarta 4764.654 4772.977 -0.17

Kuala Lumpur 1631.65 1630.96 0.04

Ho Chi Minh 607.12 611.89 -0.78

Change so far

this year

Market Current End 2015 Pct Move

Singapore 2782.55 2882.73 -3.48

Bangkok 1400.48 1288.02 8.73

Manila 7366.58 6952.08 5.96

Jakarta 4764.654 4593.008 3.74

Kuala Lumpur 1631.65 1692.51 -3.60

Ho Chi Minh 607.12 579.03 4.85

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SOUTHEAST ASIAN STOCK MARKETS

(Reporting by Aparajita Saxena; Editing by Anupama Dwivedi)