SE Asia Stocks-End 2011 on high note, beating rest of Asia

Fri Dec 30, 2011 5:48am EST

* Institutional buying pushes up Malaysia
    * Indonesia is Asia's 2nd best market in 2011, after Manila

    By Viparat Jantraprap	
    BANGKOK, Dec 30 (Reuters) - Most Southeast Asian stock
markets pushed higher on Friday and some even managed small
gains on the year, in contrast to the rest of Asia, depressed by
Europe's unresolved debt crisis and worries about global demand.	
    Even though Southeast Asian markets had their worst year
since 2008, when the global financial crisis hit share values,
the Philippines, which was closed on Friday, was Asia's
best-performing market this year with a 4.1 percent gain.	
    Indonesia came second with a rise of 3.2 percent and Kuala
Lumpur managed to eke out a gain of 0.78 percent. They were the
only markets to go up in Asia this year.	
    The resilience of domestic consumption helped Indonesia
overcome an external slowdown and optimism about the mining and
telecoms sectors underpinned sentiment in the Philippines.	
    In a choppy trading session, Jakarta's Composite Index
 edged up 0.35 percent on Friday to six-week highs and 
Thailand rose 0.14 percent, but Singapore's Straits
Times Index fell 1 percent to the lowest in more than a
week.	
    Late buying sent Malaysia's index up 1.6 percent to
its highest in almost five months. The Malaysian bourse said
domestic institutions led buyers with a net $33 million.	
    Vietnam edged up 0.3 percent but plunged 27.5 percent
on the year, Southeast Asia's worst performance, because of
domestic economic woes. Singapore dropped 17 percent, hurt by
its exposure to the global marketplace.	
    Market turnover was generally subdued ahead of the New Year
celebrations. The Philippines and Indonesia reopen on Monday,
Singapore, Malaysia and Vietnam on Tuesday and Thailand on
Wednesday.	
    The European debt fiasco would continue to dominate the
markets at the start of the new year, brokers said.	
    "There's unlikely to be a significant development in Europe
in the near term. So we still expect weak investment sentiment,
at least in the first quarter of next year," said Bangkok-based
strategist Sukit Udomsirikul of broker SCB Securities.	
    In a research note on the outlook for 2012, CIMB Securities
said the Indonesian market remained a safe haven pick and it
kept the Thai market at "overweight", while downgrading Malaysia
to "neutral" from "overweight".	
    Indonesia's passing of a long-awaited land acquisition law,
which could help infrastructure development, might lift its
growth outlook, while Thailand's reconstruction efforts after
flooding plus buoyant consumption boded well for corporate
earnings there the broker said.	
    For Malaysia, besides having to contend with a slowing
economy, investors will very likely have to brace for the impact
of general elections, amid a multitude of risks, it said.	
    Top Thai convenience store CP All Pcl climbed 1
percent, for a gain of 31 percent on the year, and PT Unilever
Indonesia Tbk gained 1.6 percent, up 14 percent on the
year thanks to strong domestic spending.    	
(Editing by Alan Raybould)	
 	
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SOUTHEAST ASIAN STOCK MARKETS	
 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          2646.35       2672.78       -0.99
 Kuala Lumpur       1530.73       1506.69       +1.60
 Bangkok            1025.32       1023.91       +0.14
 Jakarta            3821.99       3808.77       +0.35
 Hanoi               351.55        350.51       +0.30
 	
 Change on year
 Market             Current     End prev yr    Pct Move
 Singapore          2646.35       3190.04      -17.04
 Kuala Lumpur       1530.73       1518.91       +0.78
 Bangkok            1025.32       1032.76       -0.72
 Jakarta            3821.99       3703.51       +3.20
 Manila             4371.96       4201.14       +4.07 
 Hanoi               351.55        484.66      -27.46
 	
 Stock Market Volume (shares)
 Market          Current Volume    Average Volume 30 days
 Singapore         118,590,800          254,840,020       
 
 Kuala Lumpur      113,633,900           86,552,883       
 
 Bangkok             1,638,611            3,339,839       
 
 Jakarta         2,600,539,000        2,796,963,800    
 Hanoi                  56,176               38,124
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