SE Asia Stocks-Thai index up on MSCI; Singapore Airlines weak after results

Fri May 17, 2013 6:22am EDT

BANGKOK, May 17 (Reuters) - Thai shares gained on Friday,
led by gains in Shin Corp and Minor International
 that will be added to the MSCI index, but Singapore
retreated as Singapore Airlines fell after posting
weak results.
    The Thai SET index ended up 0.62 percent at 1,627.96
as shares in telecom group Shin Corp and hotel firm Minor
International both rose more than 7 percent.
    Maybank Kim Eng Securities said in a report it expected Shin
Corp shares to outperform the market for the rest of the year
after it is added to the MSCI Global Standard, and foreign
investors will likely accumulate more Shin Corp shares.
    MSCI announced the results of its index review on May 15,
with the changes to be implemented after the close on May 31.
    Indonesia stocks closed 1.32 percent higher at
5,145.68, boosted by the consumer sector, which was up
5.22 percent. State-owned pharmaceutical companies Indofarma
 and Kimia Farma rose 11.5 percent and 7.4
percent, respectively. 
    Profit-taking weighed on markets across the region, with the
Philippines main index down 0.42 percent at 7,279.87.
    Shares in conglomerate Metro Pacific Investments Corp
 dropped 0.49 percent, reversing Thursday's 2.3 percent
gain after the company announced its inclusion in the MSCI
Global Standard Indices, with effect from May 31.
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 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   449.02        446.30       +0.61
 Singapore          3449.30       3452.28       -0.09
 Kuala Lumpur       1769.16       1766.72       +0.14
 Bangkok            1627.96       1617.89       +0.62
 Jakarta            5145.68       5078.68       +1.32
 Manila             7279.87       7310.94       -0.42
 Ho Chi Minh         487.60        490.34       -0.56
 Change on year
 Market             Current     End prev yr    Pct Move
 TR SE Asia Index*   449.02        424.10       +5.88
 Singapore          3449.30       3167.08       +8.91
 Kuala Lumpur       1769.16       1688.95       +4.75
 Bangkok            1627.96       1391.93      +16.96
 Jakarta            5145.68       4316.69      +19.20
 Manila             7279.87       5812.73      +25.24
 Ho Chi Minh         487.60        413.73      +17.85
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
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