SE Asia Stocks-Thai shares at 3-mo high ahead of rate decision; others recover

Tue Mar 11, 2014 3:14am EDT

March 11 (Reuters) - The Thai index traded at a three-month
high on Tuesday ahead of the country's central bank monetary
policy decision, while other Southeast Asia markets recovered
after most of them eased in the previous session on weak Chinese
export data. 
    Thailand's benchmark index was up 0.8 percent at
midday, trading at its highest since Dec. 12, on hopes the
central bank would cut its benchmark interest rate by 25 basis
points on Wednesday to help the economy cope with the damage
from months of political unrest.
    The gain was led by energy shares with a 2.4 percent rise in
top oil firm, PTT PCL, which on Tuesday said prolonged
political unrest could hit the company's target for revenue
growth this year, prompting it to cut costs. 
    Most Southeast Asian markets had ended lower in the previous
session due to weak Chinese export data on worries over a
slowdown in the world's second-largest economy.  
    Malaysia's share index, which hit a one-month low in
the previous session, was up 0.3 percent by midday. 
    Shares of Malaysian Airlines traded steady a day
after hitting a record low as a Boeing 777 operated by the
airline went missing over the weekend and authorities have yet
to trace the flight. 
    In Singapore, the benchmark Straits Times index was
up 0.4 percent with gains in commodity shares helping the index
touch a near two-month high. 
    Stocks in Indonesia were up 0.2 percent led by Bank
Mega Tbk PT, which jumped 24 percent, while the
Philippine index was 0.6 percent firmer. 
    Vietnam's VN Index was up 0.8 percent, extending
gains to a fifth straight day, with energy and property stocks
providing support.
           
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0640 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   404.63        402.38       +0.56
 Singapore          3137.97       3126.63       +0.36
 Kuala Lumpur       1827.07       1822.06       +0.27
 Bangkok            1359.28       1349.05       +0.76
 Jakarta            4689.00       4677.25       +0.25
 Manila             6531.63       6487.23       +0.68
 Ho Chi Minh         588.13        583.69       +0.76
 * The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.