SE Asia Stocks-Mixed; Philippine shares hit over 1 year high

Thu Aug 14, 2014 4:07am EDT

By Mai Nguyen
    HANOI, Aug 14 (Reuters) - The Philippine index rose to its
highest in more than a year on Thursday on wide interest in
shares of its top telecom firm, while other Southeast Asian
markets were mixed.
    The benchmark index in Manila was up 1.04 percent at
7058.94 at 0659 GMT, after earlier rising to 7,093.06, its
highest intraday level since May last year, Reuters data showed.
    Strong buying focused on the Philippine Long Distance
Telephone Co (PLDT), which hit an intraday record high
of 3,298 pesos ($75.5).
    "There's a report on the MSCI rebalancing and increased
weight for PLDT. Investors took that as a signal to buy," said
Joseph Roxas, president of Eagle Equities in Manila.
    The current weighting of PLDT in the MSCI International
Philippines Price Return Index USD Realtime is
7.48 percent, the third heaviest, according to MSCI's latest
update on its website.
    PLDT also bears the biggest weight in PSI at 11.39 percent
and is the largest firm by market value on the Philippine
bourse, according to Reuters data.
    The Philippine stock market was also supported by a 3.38
percent gain in shares of Ayala Corp after the
industrial conglomerate reported a 34 percent rise in its
first-half net profit. 
    Other indices moved in tight ranges, with Thailand,
Singapore and Malaysia remaining mostly flat.
    Indonesia's benchmark index retreated 0.54 percent
from a more than one-year closing high reached on Wednesday.
    Indonesia's current account deficit in the second quarter
was larger than expected at 4.27 percent of gross domestic
product or $9.1 billion, central bank governor Agus Martowardojo
said on Thursday. 
    Vietnam's VN Index was up 0.31 percent, with the
country's top mobile phone retailer, Mobile World,
hitting a record high on its dividend plan. 
($1=43.69 pesos)   
    For Asian Companies click;  
For South East Asia Hot Stock reports, click;
   

SOUTHEAST ASIAN STOCK MARKETS
 Change at 0659 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   442.98        441.79       +0.27
 Singapore          3300.43       3301.41       -0.03
 Kuala Lumpur       1858.77       1858.04       +0.04
 Bangkok            1543.58       1544.55       -0.06
 Jakarta            5140.44       5168.27       -0.54
 Manila             7058.94       6986.24       +1.04
 Ho Chi Minh         604.65        602.76       +0.31
 
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.

 (Additional reporting by Erik dela Cruz in MANILA; Editing by
Anupama Dwivedi)
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