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