Southeast Asia stocks: Malaysia,Singapore extend gain for sixth-straight day; Maybank, Singtel lead

BANGKOK: Indonesian stocks hit a near 3-week closing high on Wednesday, while Singapore and Malaysia rose for a sixth successive session as increased risk appetite by investors boosted regional bourses after surprisingly robust U.S. economic growth data. 
    Regional large caps such as Singapore Telecommunications  and Malaysia's Malayan Banking led the gainers after revised data on Tuesday showed the U.S. economy grew at 5 percent in the third quarter, the quickest pace in 11 years. 
    The Jakarta composite index ended 0.5 percent higher
at 5,166.98, the highest close since Dec. 5, after Tuesday's
modest rise. Vietnam gained 0.3 percent.
    Singapore's key Straits Times Index finished up 0.4
percent, building on the 3.7 percent gains seen over the past
five days. The key Malaysian index firmed slightly,
further recovering from a low of 1,673.94 hit on Dec. 16.
    Thai shares, however, fell for the second day,
erasing midsession gains to close 0.4 percent lower amid late
profit-taking in large caps such as Bangkok Bank which
edged down 0.3 percent.
    "For short-term strategy, we see a good opportunity to
accumulate big-cap stocks, such as Kasikornbank, Bangkok Bank
... to lock in gains on the year-end window dressing,"
strategists at broker Phillip Securities wrote in a report.
    Foreign investors bought Malaysian shares worth a net 47
million ringgit ($13.45 million) and Thai shares worth a net 118
million baht ($3.59 million), stock exchange data showed.
    Singapore and Malaysia will be closed for Christmas on
Thursday. Indonesia will be shut on Thursday and Friday.
    The Philippine stock market is closed on Wednesday through
Friday for the Christmas holidays, and will reopen on Monday.
 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3345.91       3332.51       +0.40
 Kuala Lumpur       1749.74       1749.05       +0.04
 Bangkok            1525.06       1531.17       -0.40
 Jakarta            5166.98       5139.17       +0.54
 Ho Chi Minh         539.44        537.88       +0.29
 
 Change on year
 Market             Current       End 2013    Pct Move
 Singapore          3345.91       3167.43       +5.63
 Kuala Lumpur       1749.74       1866.96       -6.28
 Bangkok            1525.06       1298.71      +17.43
 Jakarta            5166.98       4274.18      +20.89
 Manila                --         5889.83      +22.01
 Ho Chi Minh         539.44        504.63       +6.90
 ($1 = 3.4950 ringgit)
($1 = 12,465.0000 rupiah)
($1 = 32.8700 baht)
- Reuters