Southeast Stocks - Thai shares breach 1,300; Philippines at 1-week high

BANGKOK: Thai shares hit a three-week high on Thursday on heavy buying in large-caps and banks amid
expectations of lower interest rates, despite continuing political uncertainty, while the Philippines rose to a one-week high aided by foreign buying.
    The key SET index ended up 1.9 percent at 1,301.48,
the highest since Dec. 26, with Advanced Info Service 
and Krung Thai Bank among the top gainers.
    Trading volume was relatively high, with technical-led
buying heavy around the 1,300 level, said Teerawut Kanniphakul,
strategist at broker CIMB Securities (Thailand).
    Domestic institutions bought shares for a third consecutive
session on Thursday, Thomson Reuters data showed.
    A number of so-called trigger funds, which redeem when the
index hits a target level, have piled into low-valuation shares,
said Phillip Securities.
    However, caution remained as protests in Bangkok escalated,
trying to force out the government and calling for a reform
before an election. The caretaker government has confirmed a
general election will be held on Feb. 2. 
    Citi Research said the unpredictable politics could increase
the chances of a rate cut by the Bank of Thailand's Monetary
Policy Committee (MPC) next week.
    "Even if the rate cut event doesn't happen next week,
pushing back elections as Bangkok is still under siege, may
revive the likelihood of more rate stimulus," Citi said in a
report dated Jan. 15.
    Among the bright spots, the Philippine index gained
0.4 percent to 5,982.24, with foreign investors buying shares
worth a net 125 million pesos ($2.78 million) while Vietnam
 rose 1.3 percent to a 3-1/2 year high. 
    Major Southeast Asian markets reversed early gains, with
Malaysia sliding 0.6 percent to near seven-week lows
ahead of a market holiday on Friday while Indonesian stocks
 edged down 0.7 percent after a rally earlier in the
week.
    Singapore edged down 0.1 percent, weighed down by
commodities shares, including Wilmar International Ltd

SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   385.54        384.98       +0.15
 Singapore          3140.44       3143.25       -0.09
 Kuala Lumpur       1813.01       1824.03       -0.60
 Bangkok            1301.48       1277.03       +1.91
 Jakarta            4412.49       4441.59       -0.66
 Manila             5982.24       5958.12       +0.40
 Ho Chi Minh         533.54        526.68       +1.30
 
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   385.54        388.37       -0.73
 Singapore          3140.44       3167.43       -0.85
 Kuala Lumpur       1813.01       1866.96       -2.89
 Bangkok            1301.48       1298.71       +0.21
 Jakarta            4412.49       4274.18       +3.24
 Manila             5982.24       5889.83       +1.57
 Ho Chi Minh         533.54        504.63       +5.73
 
* The Thomson Reuters South East Asia Index               is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
    
 Stock Market Volume (shares)
 Market          Current Volume    Average Volume 30 days
 Singapore         162,248,400          179,536,867      
 Kuala Lumpur      188,760,700          103,440,210      
 
 Bangkok             6,483,549            4,931,713      
 Jakarta         3,157,299,900        2,923,579,853    
 Manila                 44,879               66,232    
 Ho Chi Minh            97,753               86,203- Reuters