SE Asia Stocks - Thai shares at 9-month high on bright economic outlook

Mon Jun 30, 2014 6:38am EDT

BANGKOK, June 30 (Reuters) - The Thai index hit a nine-month
high on Monday, marking its best quarter in more than a year, as
a positive economic outlook lifted appetite for risk assets,
while Indonesian shares rose modestly on the quarter in the
run-up to the July presidential election.
    Thailand's central bank signalled on Monday that Southeast
Asia's second-largest economy would avoid a recession this
quarter and said manufacturing and consumption had "started to
show signs of recovery" in May. 
    Active buying was seen in large-cap energy and bank shares
led by top energy firm PTT and leading lender Bangkok
Bank, with positive economic prospects supportive to
earnings outlooks.
    Foreign investors bought shares for a second session, adding
a net 2.4 billion baht ($74 million), after Friday's net
purchase of 1.9 billion baht ($58.55 million), Thomson Reuters
data showed. 
    Bangkok's SET index closed up 0.2 percent on the
day, notching up a gain of nearly 8 percent on the quarter,
making it Southeast Asia's best performer.
    Jakarta's composite index climbed almost 1 percent
to a near two-week high, with Bank Rakyat Indonesia,
the third largest stock by market value, and Telkom Indonesia
, the fourth biggest, among those actively traded.
    The benchmark ended up 2.3 percent in the second quarter
after a 11.6 percent rally in the first. The lack of clarity on
next month's election has kept most investors on the sidelines,
broker Danaseksa said in a report.
    "Overall, investors may prefer to add to their positions
once confirmation of Jokowi's victory is known, rather than
taking the risk of accumulating now despite the market's recent
weakness," the broker said. 
    Major markets in Southeast Asia had a positive quarter, with
the Philippines up 6.5 percent, Singapore 2.1 
percent higher and Malaysia adding 1.8 percent, but
Vietnam fell 2.3 percent, its first in four quarters.
        
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   427.76        426.16       +0.37
 Singapore          3255.67       3271.05       -0.47
 Kuala Lumpur       1882.71       1880.93       +0.09
 Bangkok            1485.75       1483.24       +0.17
 Jakarta            4878.58       4845.13       +0.69
 Manila             6844.31       6842.15       +0.03
 Ho Chi Minh         578.13        578.82       -0.12
 
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   427.76        388.37      +10.14
 Singapore          3255.67       3167.43       +2.79
 Kuala Lumpur       1882.71       1866.96       +0.84
 Bangkok            1485.75       1298.71      +14.40
 Jakarta            4878.58       4274.18      +14.14
 Manila             6844.31       5889.83      +16.21
 Ho Chi Minh         578.13        504.63      +14.57
 
* 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 = 32.45 baht)

 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)
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