SE Asia Stocks-Thai shares rebound in light volume; Indonesia jumps

Mon Jan 13, 2014 3:21am EST

BANGKOK, Jan 13 (Reuters) - Thai shares recouped earlier
losses and rose 1 percent on Monday after a proposal to push
back the date of the snap election scheduled for Feb. 2, but
trading was subdued amid large-scale anti-government protests in
Bangkok.
    Thai key SET index rose to 1,268.71, after falling
in the morning session to 1,244.14.
    The rebound came after a report that Prime Minister Yingluck
Shinawatra has invited leaders of anti-government protesters and
political parties to discuss an Election Commission proposal to
push back the date of the snap election she called from Feb. 2.
 
    "We saw some short covering due to hopes about the delay of
the election date which could help to ease the political
tensions," said Pichai Lertsupongkij, a senior analyst at broker
Thanachart Securities.
    Trading volumes were half of the full day average over the
past 30 sessions as protesters occupied major intersections in
the capital to pressure caretaker Prime Minister Yingluck
Shinawatra to step down. 
    Thai stock exchange president Charamporn Jotikasthira told
reporters the bourse had tightened measures, insisting there
would be no disruptions to the trading system as the protesters
plan a rally at the exchange.
    Indonesian and Philippine stocks rallied after weak U.S.
jobs data revived speculation about the monetary stimulus.
    The Indonesian index jumped 3.1 percent to 4,384.56,
the highest since Nov. 20. Banking stocks surged 5
percent on an outlook for better liquidity.
    Mining stocks rose 1.3 percent after Indonesia on
Sunday banned unprocessed mineral exports. 
    Indonesia will be shut on Tuesday for a public holiday and
will reopen on Wednesday.
    The Philippine main index climbed 1.7 percent, led by
large caps such as SM Prime Holdings, while Malaysia
 and Vietnam both gained around 0.4 percent, in
line with broader Asia.
    Stocks in Singapore pared earlier gains, trading
0.3 percent lower, led by shares of global marine and offshore
engineering groups Sembcorp Industries Ltd and
Sembcorp Marine Ltd. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0806 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   386.46        381.57       +1.28
 Singapore          3135.87       3143.87       -0.25
 Kuala Lumpur       1834.58       1826.61       +0.44
 Bangkok            1268.71       1255.45       +1.06
 Jakarta            4384.56       4254.97       +3.05
 Manila             5940.67       5842.88       +1.67
 Ho Chi Minh         521.11        518.94       +0.42
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