SE Asia Stocks -Malaysia, Indonesia shares retreat on oil price concerns

BANGKOK, Dec 3 (Reuters) - Malaysian shares fell and the

Indonesian benchmark snapped five days of gains on Wednesday

amid concerns over the impact of declining global oil prices

while stocks in Singapore eked out slim gains after a suspension

of trading in the early hours.

Kuala Lumpur's composite index lost 1.2 percent. It

rebounded 0.4 percent on Tuesday amid technical-led buying after

suffering the worst single-day loss in almost 23 months on

Monday due to selloffs in oil and gas stocks.

Shares of oil and gas firm Sapuracencana Petroleum

and Petronas Chemicals Group led the losers.

Broker Maybank Kim Eng Securities advised investors to sell,

citing technical indicators, and as crude oil markets remained

weak.

Broker Affin Hwang Capital expected the market gain to be

short-lived amid a fall in the ringgit.

"Due to highly unfavourable anticipation of near term

movement in ringgit, we anticipate that any rebound in the

equity market might be short lived and hence trading will be

limited to a very short term horizon," Affin said in a report.

The ringgit hit a near five-year low as a rebound in oil

failed to ease concerns over the impact of lower crude prices on

the country, a net oil exporter and major palm oil producer.

Jakarta's composite index edged down 0.3 percent,

erasing some of the gains made in the preceding five trading

days when the falling oil price helped ease concerns about

fiscal and trade deficit of Indonesia.

Shares of Indocement fell 1.8 percent after a

rally on Tuesday to a more than four-month high and shares of

Bank Mandiri eased 0.2 percent after three days of

gains.

"The falling oil price is currently good for Indonesia but

will turn negative if oil price continue to fall and drag down

the rest of commodity with it," said Maybank KimEng (Indonesia)

in a report.

Singapore's Straits Times Index traded a tad higher

after bourse operator Singapore Exchange Ltd delayed

the start of trading in securities due to a software defect.

Stocks in Thailand and the Philippines were

little changed and Vietnam advanced, led by banking

shares.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0709 GMT

Market Current Prev Close Pct Move

Singapore 3324.61 3322.32 +0.07

Kuala Lumpur 1764.97 1785.97 -1.18

Bangkok 1595.01 1594.00 +0.06

Jakarta 5162.26 5175.79 -0.26

Manila 7350.41 7344.23 +0.08

Ho Chi Minh 575.95 569.43 +1.15

(Reporting by Viparat Jantraprap; Additional reporting by

Fransiska Nangoy in Jakarta; Editing by Anupama Dwivedi)