Southeast Asian stocks: Malaysia's stock index posts biggest gain since May after 15-mth low

JAKARTA: The Malaysian stock market led the gains in Southeast Asia on Wednesday, rebounding from a 15-month low in the previous session to post its biggest one-day gain since May. 
    The Malaysian main index closed up 1.6 percent, with
analysts saying the falls of the past few days due to concerns
over falling oil prices made the stocks attractive and prompted
investors to start accumulating selectively.
    Latex products manufacturer Hartalega Holdings Bhd 
rose 1.5 percent after Maybank IB Research upgraded the stock to
"buy" and raised its target price, citing the company's earnings
profile and saying it was benefiting from a stronger dollar.
    Telecommunications company Axiata Group Bhd 
gained 4.5 percent, rebounding from its lowest in nearly seven
months hit in the previous session.
    In Indonesia, a rally in blue-chips helped the main stock
index rise 0.8 percent. Credit rating agency Moody's
said on Wednesday Indonesia would benefit from lower oil prices.
    "Those that are battling high inflation and large oil
subsidy bills, such as Indonesia and India, will benefit most
from a lower price environment," Moody's said in a statement.
    Shares in the country's second largest lender by assets, PT
Bank Rakyat Indonesia Tbk, rose 2.9 percent.
    Indonesian brokerage Danareksa reiterated its "buy" rating
on the stock, citing a "well-managed deposits structure and
resilient margins". 
    Singapore and Vietnam rose modestly, but Philippines 
edged down, bucking the regional trend.
    The Thai stock market was closed on Wednesday for a public
holiday and will reopen on Thursday.
    
SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3325.81       3319.84       +0.18
 Kuala Lumpur       1765.52       1738.10       +1.58
 Bangkok              --          1559.56         -- 
 Jakarta            5165.41       5122.31       +0.84
 Manila             7175.08       7183.87       -0.12
 Ho Chi Minh         557.19        555.31       +0.34
 
 Change on year
 Market             Current       End 2013    Pct Move
 Singapore          3325.81       3167.43       +5.00
 Kuala Lumpur       1765.52       1866.96       -5.43
 Bangkok            1559.56       1298.71       +20.1
 Jakarta            5165.41       4274.18       +20.8
 Manila             7175.08       5889.83       +21.8
 Ho Chi Minh         557.19        504.63       +10.4
 - Reuters