SE Asia Stocks-Bangkok extends gain; Jakarta at 2-week high
BANGKOK, March 26 (Reuters) - Thai stocks rose for a second day on Tuesday as investors bought telecom stocks on strong growth prospects while Indonesian shares climbed to their two-week high amid expectations the parliament would approve a new central bank governor. Stocks in Singapore, Malaysia and the Philippines ended higher while Asia was steady amid worries Cyprus's bailout could be a template applicable to larger states that might get into difficulty. Bangkok's SET index gained 1.3 percent to 1,544.03, further recovering from last week's 7.5 percent loss, led by a 4 percent gain in telecoms shares such as Total Access Communication and Advanced Info Service. CIMB analyst Teerawut Kanniphakul said a launch of 3G service by telecom operators this year was fundamentally positive for the sector. "Telecoms stocks are among good defensive plays in the event of high market volatility. The sector has a growth story with high dividend payouts," he said. Jakarta's Composite Index finished up 0.9 percent at 4,842.52, hitting a two week intraday high of 4861.76 at one point as market investors expected Finance Minister Agus Martowardojo to win parliament's approval to become the next head of the central bank. "I think parliament will approve Agus Marto as the Central Bank Governor. The market should be positive, and at this point the market has already reflected the outcome," said Jakarta-based John Teja, director of Ciptadana Securities. The Indonesian rupiah turned slightly higher on inflows to the country's stocks and bond markets, traders said. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 444.49 445.64 -0.26 Singapore 3288.53 3267.48 +0.64 Kuala Lumpur 1652.83 1643.89 +0.54 Bangkok 1544.03 1523.95 +1.32 Jakarta 4842.52 4799.66 +0.89 Manila 6665.12 6597.59 +1.02 Ho Chi Minh 489.46 493.57 -0.83 Change on year Market Current End prev yr Pct Move TR SE Asia Index* 444.49 424.10 +4.81 Singapore 3288.53 3167.08 +3.83 Kuala Lumpur 1652.83 1688.95 -2.14 Bangkok 1544.03 1391.93 +10.93 Jakarta 4842.53 4316.69 +12.18 Manila 6665.12 5812.73 +14.66 Ho Chi Minh 489.46 413.73 +18.30 * 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 288,615,200 272,313,503 Kuala Lumpur 213,597,300 154,861,787 Bangkok 12,572,719 17,717,324 Jakarta 5,342,709,000 6,234,303,750 Manila 154,046 131,247 Ho Chi Minh 47,053 63,111
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