Southeast Asian stock markets ended mixed on Monday, with Singapore snapping a six-day winning streak as investors cashed in quick gains in overbought large-caps, but a rally in oil- related stocks brought the Thai index to a near four-month high. Singapore's Straits Times Index was down 0.5 percent after Friday's sixth-straight gain, with selling in shares seen as being overbought, such as Oversea-Chinese Banking Corp.
Thailand's SET index rose 1.2 percent to 1,398.38, the highest close since November 10. Shares of PTT Exploration and Production, the second biggest energy firm by market value, surged 7.6 precent as global oil prices jumped. Key indexes in Malaysia and Vietnam ended moderately higher, extending their strong performances last week. Indonesia and the Philippines both drifted into negative territory on selling led by domestic investors.
Inflows to the emerging sharemarkets continued from last week, led by Malaysia's 383 million ringgit ($93.87 million) and Indonesia's 502 billion rupiah ($38.36 million), Thomson Reuters and stock exchange data showed. Stocks in Asia hit a two-month high after upbeat US jobs data and a rise in oil prices.
Vietnam's benchmark VN Index advanced 0.62 percent by midday on Monday, for the fifth consecutive session of gains, mainly due to the rise in energy stocks on upbeat oil prices. Oil prices jumped as tightening supply and an improving global outlook strengthened sentiment for a market recovery. PetroVietnam Gas led the market to jump 5.4 percent at the break, slightly dropping from its five-month intraday high, while PetroVietnam Drilling and Well Services Corp also hit over nine-week high.
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