SE Asia Stocks-Banks push Indonesia up, Singapore turns higher

Thu Jul 30, 2009 6:37am EDT

 * Singapore turns higher late in the day
 * Rallying banks push Indonesia to one-year high
 * Energy, food among gainers in Thailand
 By Viparat Jantraprap
 BANGKOK, July 30 (Reuters) - Indonesian shares soared to
their highest in a year on Thursday, with banking shares
leading the way, and Singapore bounced late in the session, but
overall it was a mixed day in Southeast Asia.
 The Indonesian index .JKSE jumped 3.3 percent to its
highest since July 31, 2008, with top lender Bank Mandiri
(BMRI.JK) and number two Bank Rakyat Indonesia (BBRI.JK) rising
more than 6 percent and Bank Central Asia (BBCA.JK) up 2.1
percent.
 Bank Mandiri and Bank Central Asia reported gains in
second-quarter net profit but loan growth slowed even though
the central bank continued to cut interest
rates.[ID:nJAK416739]
 Astra International (ASII.JK), Indonesia's largest
automotive distributor, closed up 3.7 percent. After the close
it reported a 10.8 percent fall in its first-half net profit
amid lower demand in Southeast Asia's largest economy.
 Singapore's index .FTSTI rose 1.2 percent, reversing a
0.8 percent fall on Wednesday, with DBS Group (DBSM.SI),
Southeast Asia's biggest lender, surging 3.1 percent and
Singapore Exchange (SGXL.SI), Asia's second largest listed
bourse, up 1.3 percent.
 By 0943 GMT, the MSCI index of Asia-Pacific shares
excluding Japan .MIAPJ0000PUS was up 0.8 percent. Chinese
stocks see-sawed as the central bank reaffirmed loose monetary
policy.
 "We in Thailand see China's plan to slow bank lending as
verbal intervention rather than harsh action," broker KGI
Securities said.
 "Based on this view, regional and Thai stocks should move
sideways rather than sliding further," it said.
 Thailand's SET index .SETI gained 1.2 percent, with PTT
PTT.BK, the biggest energy firm, up 2.1 percent and coal
miner Banpu BANP.BK 6.7 percent higher.
 Outperformers included Thai Union Frozen Products TUF.BK,
Asia's biggest canned tuna exporter, which was up 2.4 percent
after its second-quarter earnings more than doubled, beating
forecasts, and it was bullish for next year.
 Elsewhere, Malaysia's index .KLSE was down 0.3 percent,
led by a 3.9 percent fall in Petronas Gas PGAS.K and a 1.2
percent loss in Sime Darby (SIME.KL).
 The Philippine index .PSI and Vietnam's index .VNI each
fell about 1.3 percent, with Manila Electric (MER.PS), the top
power distributor, tumbling 18.3 percent and Vietnam's
industrial park developer Itaco ITA.HM sliding nearly 5
percent.
 ($1=34.03 Baht)
 (Editing by Alan Raybould)
















































































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