By Nicole Pinto
June 26 (Reuters) – Thai and Vietnamese shares closed higher in
thin trade on Monday, buoyed by stronger oil prices and taking a
cue from broader Asian peers, even as other Southeast Asian stock
markets were shut for the Muslim festival of Eid al Fitr.
Oil rose for a third straight session on Monday, with investors
in U.S. crude futures and options increasing bets against a further
rise in prices, just as the number of U.S. oil rigs in operation
hit its highest in over three years.
In Vietnam, the key index climbed 0.5 percent to hit a
fresh nine-year closing high.
PetroVietnam Drilling & Well Service Corp gained 6.9
percent, while PetroVietnam Gas Joint Stock Corp rose 0.5
“We observe that the money flow in the stock market is quite
strong at the moment,” said Tran Minh Hoang, chief economist of
Thai shares rose 0.2 percent to hit a more than
two-month closing high.
IRPC climbed 2.9 percent, while PTT Exploration and
Production rose 0.6 percent.
Financial markets in Singapore, Malaysia,
Indonesia and the Philippines were closed for Eid al
Fitr, which marks the end of the Islamic holy month of Ramadan.
In Asia, MSCI’s broadest index of Asia-Pacific shares outside
Japan advanced 0.6 percent
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SOUTHEAST ASIAN STOCK MARKETS:
Change on day
Market Current Previous Pct Move
Bangkok 1585.61 1582.36 0.21
Ho Chi Minh 772.52 769.01 0.46
Change so far
Market Current End 2016 Pct Move
Bangkok 1585.61 1542.94 2.77
Ho Chi Minh 772.52 664.87 16.2
(Reporting by Nicole Pinto; Editing by Biju Dwarakanath)