BANGKOK - Most Southeast Asian stock markets rose on Friday as firmer global oil prices lifted energy-related shares, helping Malaysia end a two-day losing streak and the Philippines close at a more than one-week high.
Malaysia's key stock index finished the day up 0.9 per cent at 1,862.58, just shy of its highest close in more than seven months hit on April 21. It rose almost 1 per cent this week, a sixth consecutive week of gains.
Shares of oil and gas services firm Sapurakencana Petroleum Bhd jumped 6.3 per cent, making them the top percentage gainer on the MSCI index of Southeast Asia A handful of energy shares gained across exchanges as oil prices held steady near 2015-highs reached the session before as air strikes in Yemen stoked concerns over the security of Middle East oil shipments.
The Philippine stock index rose 0.7 per cent to 7,947.25, its highest close since April 16. It ended the week nearly flat after a 2.2 per cent drop last week.
The bourse saw a net inflow worth $16.14 million, including foreign buying in shares of Aboitiz Power Corp and Energy Development Corp, stock exchange data showed.
In Bangkok, the SET index advanced 0.7 per cent, led by top energy firm PTT, trimming losses on the week to 0.7 per cent. Investors are looking forward to the Thai Monetary Policy Committee meeting on Wednesday for cues on interest rates.
Stock markets in Southeast Asia posted mixed weekly performance ahead of key monetary policy moves next week from the US Federal Reserve.
Singapore posted a weekly fall of 0.4 per cent, snapping five straight weeks of gains, while Indonesia rose 0.5 per cent, reversing the previous week's loss, and Vietnam eased 0.5 per cent.