Southeast Asian Stocks: Thai, M'sia, S'pore upp; Philippines outperforms

  • Business Premium
  • Wednesday, 12 Feb 2014

BANGKOK: Major Southeast Asian stocks rose on Tuesday after active buying  in a reporting season and ahead of the Congressional testimony by the new head of the U.S. Federal Reserve, with Thai benchmark capped below a key 1,300 mark amid growing domestic risks.
    Bangkok's SET index closed up 0.4 percent after a
rangebound session that saw the gauge moving in 1,288-1,299
range. Commodities stocks such as PTT Global Chemical Pcl
 outperformed as a global recovery bolstered earnings
    Traders said players were wary of the political deadlock,
with the inconclusive Feb. 2 poll and rice farmer protests
raising risks going forward. Thai exchange noted a fall in
volumes to 83 percent of a full-day average over past 30 days.
    A member of Thailand's Election Commission said it may prove
impossible to complete this month's disrupted election and the
whole vote may need to be re-run, implying many months more
under a caretaker government with limited powers.
    Across the exchanges, investors piled into shares of
Southeast Asian firms following their strong earnings, including
Indonesia's Bank Mandiri Tbk and Singapore Airlines
Ltd both up more than 2 percent. 
    HSBC Global Research reiterated an 'overweight' rating on
Singapore Airlines, citing the stock's compelling valuation,
with a target price of S$12.5 compared to the closing price of
    Philippine shares outperformed in the region, with the main
index up 1 percent at the highest in more than two weeks,
with foreign investors buying shares a net 560.6 million peso
($12.46 million).
    MSCI's broadest index of Asia-Pacific shares outside Japan
 rose 1.2 percent. 
    Fed Chair Janet Yellen is likely to face questions on the
state of the labour market and the future pace of tapering when
she appears before the House Financial Services Committee on

 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   384.23        381.49       +0.72
 Singapore          3029.10       3017.20       +0.39
 Kuala Lumpur       1824.17       1816.14       +0.44
 Bangkok            1296.25       1290.66       +0.43
 Jakarta            4470.19       4450.75       +0.44
 Manila             6106.03       6042.25       +1.06
 Ho Chi Minh         553.90        555.90       -0.36
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   384.23        388.37       -1.07
 Singapore          3029.10       3167.43       -4.37
 Kuala Lumpur       1824.17       1866.96       -2.29
 Bangkok            1296.25       1298.71       -0.19
 Jakarta            4470.19       4274.18       +4.59
 Manila             6106.03       5889.83       +3.67
 Ho Chi Minh         553.90        504.63       +9.76
* 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         126,246,100          188,706,700      
 Kuala Lumpur      137,574,000          120,652,577      
 Bangkok             3,951,026            4,770,342      
 Jakarta         3,837,099,200        2,830,539,050    
 Manila                 69,315               71,144    
 Ho Chi Minh           175,048               91,995- Reuters

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