BANGKOK: Stocks in Indonesia recouped early losses and closed near a 15-month high on Thursday ahead of a court ruling on the presidential election, while Thai shares edged up after the country's army chief was appointed prime minister.
Jakarta's Composite Index, which measures the
movement of 501 stocks, finished 0.3 percent higher at 5,206.14,
its highest close since May 22, 2013 and just shy of the record
close of 5,214.97 hit on May 20 last year.
The benchmark lost almost 1 percent in early trading amid
caution before the court verdict, but brokers said late buying
reflected expectations of a ruling in favour of Joko Widodo.
Foreign investors bought shares for a second day worth a
combined 925 billion rupiah ($79 million) as the rupiah
strengthened to trade around 11,685 against the dollar compared
with a previous close of 11,698.
In Bangkok, the key SET index rose for a third day,
closing slightly higher at 1,551.41, the highest finish in more
than 14 months.
Brokers attributed the rise to optimism around the
nomination of General Prayuth Chan-ocha as Prime Minister and a
soon-to-be-formed government.
State-run Krung Thai Bank gained almost 2 percent
while home builder Land & Houses jumped 2.7 percent amid
selective buying in sectors seen as beneficiaries of an
improved economic outlook and political stability.
Malaysia fell, bucking the trend in the region, with
retail investors selling a net 42 million ringgit ($13.2
million) of stock while domestic institutions and foreign
investors were net buyers, exchange data showed.
The Philippine stock market was closed for a public
holiday and will reopen on Friday.
SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 444.85 444.63 +0.05
Singapore 3324.09 3323.65 +0.01
Kuala Lumpur 1874.81 1878.89 -0.22
Bangkok 1551.41 1550.77 +0.04
Jakarta 5206.14 5190.17 +0.31
Ho Chi Minh 612.94 606.70 +1.03
Change on year
Market Current End 2013 Pct Move
TR SE Asia Index* 444.85 388.37 +14.54
Singapore 3324.09 3167.43 +4.95
Kuala Lumpur 1874.81 1866.96 +0.42
Bangkok 1551.41 1298.71 +19.46
Jakarta 5206.14 4274.18 +21.80
Manila -- 5889.83 +20.49
Ho Chi Minh 612.94 504.63 +21.46
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
(1 US dollar = 11,685.0000 rupiah)
(1 US dollar = 3.1690 Malaysian ringgit)- Reuters
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