JAKARTA: Most Southeast Asian stock markets rose on Friday as the U.S. Federal Reserve's pledge to be "patient" about hiking interest rates continued to boost sentiment.
The Fed's signal "continues to be the positive catalyst that
supports the global market rally," Jakarta's BNI Securities said
in a research note on Friday.
The markets had been highly volatile earlier in the week as
plunging oil prices and the Russian rouble caused outflows from
the region due to global risk aversion.
The Indonesian stock index rose 0.6 percent for the
day, extending a 1.5 percent gain from the previous session.
However, the index fell 0.3 percent for the week amid volatility
in the Indonesian rupiah.
Shares in PT Telekomunikasi Indonesia (Telkom) Tbk
, Indonesia's largest telecommunication company, rose
0.5 percent.
Telekom shareholders on Friday appointed Alex Sinaga as the
new CEO. Sinaga was previously CEO of Telkom's mobile phone
network unit, Telkomsel.
Philippine stocks rose 1.4 percent for the day, but
posted their third weekly loss.
Aboitiz Equity Ventures, Inc, a Philippine
investment company, rose 1.1 percent.
Broker Maybank ATR Kim Eng upgraded Aboitiz to 'hold' and
raised its target price by 20 percent on improving growth
prospects of the company's power generation and distribution
unit, it said in a note on Friday.
The Thai stock index lost 0.2 percent for the day,
retreating from a 3.7 percent gain in the previous two sessions.
SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
Singapore 3279.53 3243.65 +1.11
Kuala Lumpur 1715.99 1699.95 +0.94
Bangkok 1514.35 1516.79 -0.16
Jakarta 5144.62 5113.35 +0.61
Manila 7125.63 7029.28 +1.37
Ho Chi Minh 523.09 528.45 -1.01
Change on year
Market Current End 2013 Pct Move
Singapore 3279.53 3167.43 +3.54
Kuala Lumpur 1715.99 1866.96 -8.08
Bangkok 1514.35 1298.71 +16.6
Jakarta 5144.62 4274.18 +20.4
Manila 7125.63 5889.83 +20.9
Ho Chi Minh 523.09 504.63 +3.66
- Reuters
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