SE Asia Stocks: Thai stocks rise on energy; banks lift Vietnam
BANGKOK, Aug 20 – Stocks in Thailand posted modest gains after a range-bound session today, led higher by energy-related stocks such as PTT Pcl as higher global oil prices bolstered sentiment, while Vietnam gained amid demand for banking shares.
The benchmark SET index ended up 0.4 per cent, erasing a combined 0.24 per cent loss in the past two sessions. Top energy firm PTT led the pack, rising 0.9 per cent.
The Ho Chi Minh Stock Exchange’s VN Index extended its gains for a sixth session to finish up 0.9 per cent at 437.28, the highest close since May 25.
Shares of Vietnamese army-run lender, Military Commercial Joint Stock Bank gained 2.1 per cent. Vietnam’s central bank has allowed the lender to increase lending to 25 per cent in 2012, from the earlier limit of 17 per cent.
Singapore, Malaysia, Indonesia and the Philippines were closed for market holidays. – Reuters