SE Asia Stocks-Thai shares breach 1,300; Malaysia rebounds before strong Q4 GDP

Wed Feb 12, 2014 5:58am EST

BANGKOK, Feb 12 (Reuters) - Thai stocks climbed 1.4 percent
on Wednesday amid a rise in the baht and decent quarterly
earnings by large caps, while others in Southeast Asia edged
higher after China trade data and an optimistic economic outlook
from the U.S. Federal Reserve chief.
    Thai key SET index closed at 1,314.06, the highest
since Jan. 24, also helped by technical-led buying above 1,300
mark. Telecommunications company Advanced Info Service
 jumped 2.4 percent following a rise in quarterly
earnings. 
    "Investors have looked for an entry point on Thai stocks and
so, the strong baht and a buying signal above 1,300 helped
attract them today," said Teerawut Kanniphakul, a senior analyst
at CIMB Securities.
    Thai baht traded around 32.56 against the dollar,
up around 0.6 percent from the previous session, in line with
gains in Asian currency. 
    The domestic political risks would limit any near-term
rally, brokers said, as investors awaited a coming court ruling
on the case lodged by protesters seeking to have the emergency
decree withdrawn. 
    Malaysia pared early losses and closed up 0.1
percent.
    Malaysia's economy grew 5.1 percent in the fourth quarter,
its fastest pace in a year and beating the forecast of 4.8
percent, supported by firm domestic demand and improving
exports. The data came after market close on
Wednesday. 
    Stocks in Singapore ended up 0.2 percent at a
two-week closing high, with Indonesia, the Philippines
 and Vietnam all higher as China's solid trade data
boosted sentiment of Southeast Asian exporting countries.
    China's exports handily beat expectations in January, rising
10.6 percent from a year earlier, while imports jumped 10
percent, leaving the country with a trade surplus of $31.9
billion for the month, the Customs Administration said on
Wednesday. 
    Janet Yellen, fresh from taking the helm of the Federal
Reserve, made it clear on Tuesday she would not make any abrupt
changes to U.S. monetary policy, saying the central bank was on
track to keep reducing its stimulus even though the labour
market recovery was far from complete. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   387.23        384.25       +0.78
 Singapore          3035.45       3029.10       +0.21
 Kuala Lumpur       1825.64       1824.17       +0.08
 Bangkok            1314.06       1296.25       +1.37
 Jakarta            4496.28       4470.19       +0.58
 Manila             6112.31       6106.03       +0.10
 Ho Chi Minh         564.25        553.90       +1.87
 
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   387.23        388.37       -0.29
 Singapore          3035.45       3167.43       -4.17
 Kuala Lumpur       1825.64       1866.96       -2.21
 Bangkok            1314.06       1298.71       +1.18
 Jakarta            4496.28       4274.18       +5.20
 Manila             6112.31       5889.83       +3.78
 Ho Chi Minh         564.25        504.63      +11.81
 
* 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         170,223,900          187,036,037      
 Kuala Lumpur      122,838,800          123,273,680      
 
 Bangkok             5,580,873            4,765,636      
 Jakarta         4,053,679,200        2,887,646,273    
 Manila                129,618               71,056    
 Ho Chi Minh           126,103               94,127
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