BANGKOK: Indonesia's benchmark index snapped a four-day rising streak on Friday amid selling in recently rallying large caps, while Thai shares eked out more gains to a near 15-month high as investors built positions in tourism-related stocks and retailers.
Jakarta's Composite Index edged down 0.1 percent,
slightly trimming its weekly gain to 1 percent, after active
selling in shares of Telkom Indonesia and Bank Mandiri
, which led among gainers early in the week.
"Today's correction is expected, since JCI has risen
recently in response to investor expectations for a peaceful and
successful presidential election," said John Teja, director of
broker Ciptadana Securities.
The index earlier rose to a near record high of 5,223.97 amid
a rise in the rupiah, a day after the country's
highest court gave Joko Widodo the green light to lead Southeast
Asia's largest economy from its worst slowdown since the global
financial crisis.
Uncertainties over president-elect Widodo's policy,
including fuel price hike expectation, would keep the market
volatile in the near term, brokers said.
Thai SET index rose for a fourth straight day,
taking its gain on the week to 0.7 percent. It closed at
1,556.97, the highest since May 2013.
Shares of Airports of Thailand jumped 3.2 percent
and Central Pattana surged 4.9 percent, reflecting
optimism around the domestic political stability after Thailand
named a newly-nominated prime minister.
Others in Southeast Asia had a positive week, with stocks in
Singapore and Malaysia posting modest gains,
while the Philippines climbed 1.8 percent and Vietnam
notched up 2.6 percent.
SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 445.92 444.83 +0.24
Singapore 3325.50 3324.09 +0.04
Kuala Lumpur 1870.99 1874.81 -0.20
Bangkok 1556.97 1551.41 +0.36
Jakarta 5198.89 5206.13 -0.14
Manila 7133.09 7096.49 +0.52
Ho Chi Minh 620.14 612.94 +1.17
Change on year
Market Current End 2013 Pct Move
TR SE Asia Index* 445.92 388.37 +14.82
Singapore 3325.50 3167.43 +4.99
Kuala Lumpur 1870.99 1866.96 +0.22
Bangkok 1556.97 1298.71 +19.89
Jakarta 5198.89 4274.18 +21.63
Manila 7133.09 5889.83 +21.11
Ho Chi Minh 620.14 504.63 +22.89
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.- Reuters
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