SE Asia Stocks-Indonesia up for 3rd day, earnings help Thailand

Fri Nov 13, 2009 5:39am EST
 
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 * Indonesia extends gains; earnings help Thailand
 * Palm oil shares weigh on Singapore, Malaysia
 * Philippines ends three days of gains; Vietnam rises
 By Viparat Jantraprap
 BANGKOK, Nov 13 (Reuters) - Most Major Southeast Asian
stock markets eked out small gains on Friday, with buying
interest in Adaro Energy and Bank Nagara pushing Indonesia
higher while upbeat quarterly earnings shored up sentiment in
Thailand.
 Indonesia's index .JKSE rose for a third day, adding 0.3
percent, with Adaro Energy (ADRO.JK) climbing 5.6 percent and
Bank Negara (BBNI.JK) up 1 percent, adding to their gains on
Thursday after news the stocks would be included in the MSCI
Indonesia Index with effect from Nov. 30.
 Thailand's index .SETI gained 0.2 percent, turning round
from a drop of nearly 3 percent to a one-week low on Thursday,
led by a 6.9 percent gain in chicken exporter Charoen Pokphand
Foods CPF.BK and a 4.6 percent rise in CP All CPALL.BK.
 CP All, Thailand's top convenience store chain, announced a
better-than-expected 68 percent rise in quarterly earnings
while CP Foods was among shares that will be included in the
revamped MSCI Thailand Index.
 "Markets had a lacklustre session today. I think investors
were cautious but still monitoring the dollar for next week's
direction. If the currency weakens, it will be favourable for
stocks," said Pichai Lertsupongkij, head of sales at Thanachart
Securities in Bangkok.
 However, a rare rally in the U.S. dollar was the focus in
Asia on Friday as investors wondered if President Barack
Obama's nine-day visit to the region would generate pressure on
some countries to let their currencies rise.
 Singapore's index .FTSTI inched up 0.04 percent, although
big palm plantation firm Wilmar International (WLIL.SI) fell 2
percent as Malaysian crude palm oil futures made little headway
on Friday.
 Malaysia's index .KLSE edged down 0.06 percent, with Sime
Darby (SIME.KL) sliding 0.3 percent and IOI Corp (IOIB.KL)
easing 0.4 percent.
 The listing of Maxis,  Malaysia's biggest mobile phone
operator, which will start trading on Nov. 19, should lift
sentiment in Kuala Lumpur, analysts said.
 "Stocks should remain in consolidation with a downward bias
ahead of next week's listing of Maxis, when buying momentum
should improve," broker TA Securities said in a research note.
 The brokerage said immediate support for the main stock
index was now at 1,262 and 1,256 compared with the close on
Friday of 1270.96.
 "On the upside, an eventual breakout above 1,280 will
extend the rally to the next significant hurdle at 1,305, the
29 April 2008 pivot high," it said.
 The Philippines .PSI dropped 1.3 percent, ending a
three-day rise, weighed down by a 14 percent loss in Philex
Mining Corp (PX.PS) and a 2.4 percent fall in Manila Electric
(MER.PS).
 Vietnam's index .VNI was up 0.4 percent, rising for a
third day, with Masan Group MSN.HM up 2.6 percent and real
estate developer Sudico SJS.HM up 4.5 percent.
[ID:nHAN99764]
 ($1=33.27 Baht)
 (Additional reporting by AiPeng Soo in Kuala Lumpur; Editing
by Alan Raybould)

















































































 

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