Singapore stocks marked their biggest gain in nearly six weeks on Wednesday, in line with strength in regional markets, as a jump in crude oil prices boosted energy related stocks and foreign inflows sent Malaysia's index to a two-month high. Singapore's Straits Times Index was up 2.2 percent, the biggest one-day rise since August 27. Shares of oil and gas service companies outperformed, led by Sembcorp Marine Ltd and Keppel Corp.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 2.5 percent, to reach its highest level since August 20. "Ahead of the resumption of China's trading tomorrow, pundits appeared to be waging some bullish bets on expectations of it playing catch up," broker NRA Capital said in a report.
Kuala Lumpur composite index was up 1.6 percent at 1,689.25, the highest close since August 6. Sapurakencana Petroleum, which was up 9 percent was the top percentage gainer. The overall market had a net foreign inflows of 290 million ringgit ($68.8 million) after a modest inflows on Tuesday and a net outflows on Monday, the Malaysian bourse said. Stronger oil prices bolstered buying into energy and commodities shares across exchanges.
Thai energy explorer PTT Exploration and Production and Indonesian coal miner Adaro Energy each jumped about 10 percent. Philippine Petron Corp rose 2.2 percent and Vietnam's PetroVietnam Gas advanced 2.6 percent.
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