SE Asia Stocks-Up on inflows; Thai large-caps rally on block trades

Fri Mar 28, 2014 6:54am EDT

BANGKOK, March 28 (Reuters) - Southeast Asian stock markets
rose on Friday on hopes about stimulus in China and foreign
inflows into the region, with the Thai benchmark climbing to a
near-two-week high after late buying in large-caps.
    A bout of buying via block trades in index heavyweights such
as Siam Commercial Bank, Advanced Info Service
 and PTT Exploration and Productions sent
the SET index 1 percent higher to close at 1,368.90.
    Institutional investors were more active as part of their
'window dressing' activities but the market was keeping a watch
on domestic political developments, said analyst Koraphat
Vorachet at broker Nomura Pattanasin. 
 
    "High stock valuations could limit room for more strong
gains from this point. With the current political risk, the
index could see technical-led selling around the 1,380 level,"
he said.
    Thai shares ended up 0.6 percent on the week, recouping most
of their falls in the previous week.
    Singapore's Straits Times Index was among the
outperformers in the region, ending 3.2 percent higher on the
week, on buying in battered property shares such as Hongkong
Land Holdings and City Developments.
    Malaysia reported a net foreign buying of 272
million ringgit ($82.64 million), Indonesia saw inflows
worth a net 1.27 trillion rupiah ($111.30 million) and the
Philippines posted 1.14 billion pesos ($25.3 million) of
inflows, according to Thomson Reuters and stock exchange data.
  
    Asian  markets gained on Friday, with MSCI's index of
Asia-Pacific shares outside Japan up 0.8 percent
helped by reports Beijing would fast-track infrastructure
spending.
    China's Premier Li Keqiang sought to reassure jittery global
investors that Beijing was ready to support the cooling economy,
saying the government had the necessary policies in place and
would push ahead with infrastructure investment. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   406.94        403.03       +0.97
 Singapore          3172.17       3162.46       +0.31
 Kuala Lumpur       1850.73       1846.87       +0.21
 Bangkok            1368.90       1355.95       +0.96
 Jakarta            4768.28       4723.06       +0.96
 Manila             6359.62       6315.69       +0.70
 Ho Chi Minh         594.29        590.14       +0.70
 
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   406.94        388.37       +4.78
 Singapore          3172.17       3167.43       +0.15
 Kuala Lumpur       1850.73       1866.96       -0.87
 Bangkok            1368.90       1298.71       +5.40
 Jakarta            4768.28       4274.18      +11.56
 Manila             6359.62       5889.83       +7.98
 Ho Chi Minh         594.29        504.63      +17.77
 
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
    
($1 = 45.0300 Philippine peso)
($1 = 11447.5000 Indonesian rupiah)
($1 = 3.2915 Malaysian ringgit)

 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)