SE Asia Stocks-Thai shares rebound; Indonesia up ahead of rate decision

Thu Jan 9, 2014 1:41am EST

BANGKOK, Jan 9 (Reuters) - Thai stocks rose on Thursday as
investors built positions in dividend-yielding stocks and
exporters along with a broad weakness in the Thai baht 
while Indonesian shares extended gains ahead of a rate decision
by the central bank.
    Stocks in Singapore and Malaysia were
nearly flat while others in the region were largely range-bound
as Asian shares wavered after a lacklustre performance on Wall
Street overnight. 
    The Thai SET index was up 1.2 percent at 1,272.14 at
midday, recouping mild losses on Wednesday, amid a rally in
exporters such as Delta Electronics Thailand and
telecoms group Shin Corporation.
    The market bias tilted more towards the upside, with
resistance seen at 1,280, said broker Phillip Securities.
    A hefty net foreign buying of almost 4 billion baht ($121
million) and continued net longs in index future for a
fifth session on Wednesday reflected more positive views among
foreign investors, Maybank Kim Eng Securities (Thailand)(MBKET)
said.
    "Most investors are focusing on the Bangkok shutdown on Jan.
13. MBKET expects the SET to significantly recover, if the
protest is held peacefully," the broker said in a note to
clients. 
    Indonesia's main index was up 0.3 percent, with 
active buying in banking stocks such as Bank Rakyat Indonesia
. Bank Indonesia is expected to keep its key reference
rate unchanged at 7.5 percent on Thursday. 
    Mining shares were up 0.4 percent, building on
Wednesday's 1.7 percent gain after the government sought to ease
a looming mineral export ban. 
        
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0619 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   382.38        381.71       +0.18
 Singapore          3149.35       3150.65       -0.04
 Kuala Lumpur       1832.58       1831.30       +0.07
 Bangkok            1272.14       1257.73       +1.15
 Jakarta            4213.38       4200.59       +0.30
 Manila             5950.59       5986.48       -0.60
 Ho Chi Minh         514.37        513.90       +0.09
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