SE Asia Stocks -Malaysia up from 4-1/2-month low; foreign investors buy Manila shares

Mon Aug 11, 2014 6:33am EDT

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Aug 11 (Reuters) - Most Southeast Asian stock markets
rebounded on Monday, with Malaysia rising from a 4-1/2-month
closing low while Manila saw strong foreign fund inflows as
easing Ukraine tensions helped boost investor appetite for risky
assets.
    Malaysia's main stock index closed up 0.5 percent,
recovering from its lowest close since March 26, led by
financials.
    Shares of Malaysia Airline System (MAS) closed up
8.3 percent, having earlier surged 10.4 percent from a near
two-month low, after state fund Khazanah Nasional 
said it will offer 27 sen for each share in the company it does
not own, amounting to nearly 1.4 billion ringgit ($435 million)
to take the troubled airline private. 
    Foreign investors bought a net $95 million worth of shares
in the Philippine stock market, which ended 1.1 percent
higher, recovering from its lowest close since July 31, while
Singapore ended up 0.5 percent from a one-month low.
    Analysts said the recovery was a technical rebound after a
decline due to worries over geopolitical tensions. 
    The Jakarta Composite Index rose 1.2 percent from a
near one-month closing low, but analysts said the index may fall
during the week on expected worsening of current account deficit
in the second quarter, for which data is scheduled to be
released on Friday, and talks over cutting fuel subsidy.
    Underperforming the market, Indonesia's biggest coal miner
PT Bumi Resources Tbk fell 5.7 percent after it said
it intends to pay the 9.25 percent interest on its $375 million
debt by Tuesday, while seeking to extend the payment of the
principal of the convertible bonds to April 2018.
 
    Bucking the trend, the Vietnam index fell 0.6 percent
due to a fall in shares of large cap companies. The Thailand
market was closed for a public holiday.
            
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   438.15        434.63       +0.81
 Singapore          3306.45       3288.89       +0.53
 Kuala Lumpur       1849.32       1839.87       +0.51
 Jakarta            5113.24       5053.76       +1.18
 Manila             6956.66       6880.34       +1.11
 Ho Chi Minh         602.13        600.48       -0.55
 
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   438.15        388.37      +12.81
 Singapore          3306.45       3167.43       +4.39
 Kuala Lumpur       1849.32       1866.96       -0.94
 Bangkok            1520.31       1298.71      +17.06
 Jakarta            5113.24       4274.18      +19.63
 Manila             6956.66       5889.83      +18.11
 Ho Chi Minh         602.13        504.63      +19.32
 
* 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 US dollar = 43.9250 Philippine peso)

 (Reporting by Shihar Aneez in New Delhi; Editing by Anupama
Dwivedi)
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