SE Asia Stocks -Most up; Thai, Jakarta hit over 1-year high; foreigners buy

Wed Aug 13, 2014 6:29am EDT

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Aug 13 (Reuters) - Thai and Indonesian stockmarkets rose to
more than one-year closing highs on Wednesday, while most other
Southeast Asian markets were slightly firmer amid caution among
investors due to worries about global growth.
    Thailand's main SET index ended 1.6 percent higher,
its highest close since June 4 last year, while the Jakarta
Composite Index rose 0.7 percent to its highest close
since May 29, 2013. 
    Other markets were mostly sluggish as investors mostly
stayed on the sidelines, with the crisis in Ukraine threatening
a fragile economic recovery in Europe. 
    Brighter corporate results offset gloomy economic news from
Asia with weak loans data on Chinese banks adding to worries
about the health of the global economy. 
 
    The Malaysian index ended 0.4 percent firmer, with
foreign investors buying a net $58.5 million in stocks. Jakarta
saw inflows of $34.4 million on Wednesday. 
    "Foreign inflows were still strong in the second half, which
halted the profit-taking in the morning session," said William
Suryawijaya, an analyst with Indosurya Securities. 
    The current account deficit is still a concern, but with
Indonesia's foreign reserves actually showing some increases, it
indicates the macroeconomic condition is pretty stable, he said.
    Investors in Jakarta's stock market have been expecting the
index to fall on an expected worsening of the current account
deficit in the second quarter and talks about cuts in fuel
subsidy.
    Bank Indonesia is expected to announce later this week that
the country's current account deficit in April-June roughly
doubled from the first quarter, but the central bank is not seen
tightening policy any time soon. 
    Bucking the trend, Singapore fell 0.1 percent, a
day after the city-state's economic data pointed that weakness
in the services sector is set to weigh on growth in the second
half of the year. 
    Vietnam's benchmark VN Index rebounded to end 0.2
percent firmer.
            
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   441.80        438.51       +0.75
 Singapore          3301.41       3303.39       -0.06
 Kuala Lumpur       1858.04       1850.39`      +0.41
 Bangkok            1544.55       1520.31       +1.59
 Jakarta            5168.27       5132.40       +0.70
 Manila             6986.24       6983.49       +0.04
 Ho Chi Minh         602.76        601.78       +0.16
 
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   441.80        388.37      +13.76
 Singapore          3301.41       3167.43       +4.23
 Kuala Lumpur       1858.04       1866.96       -0.48
 Bangkok            1544.55       1298.71      +18.93
 Jakarta            5168.27       4274.18      +20.92
 Manila             6986.24       5889.83      +18.62
 Ho Chi Minh         602.76        504.63      +19.45
 
* 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 = 3.1920 Malaysian ringgit)
(1 US dollar = 11,690.0000 rupiah)

 (Reporting by Shihar Aneez in New Delhi and Fransiska Nangoy in
Jakarta; Editing by Prateek Chatterjee)
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