BANGKOK, May 16 Most Southeast Asian stocks
gained on Friday, with Thai shares climbing to a two-week high
amid hopes for a solution to the political crisis, while
Indonesia rose for a fifth day with PT Bumi Resources Tbk
Bangkok's SET index ended up 0.7 percent at
1,405.26, the highest close since May 2, with large cap stocks
leading the pack. The SET rose 2 percent on
the week, the biggest gain since the week ended March 7.
Members of Thailand's Senate trying to devise a "road map"
out of a long political crisis are expected on Friday to propose
the appointment of an interim prime minister, a move which would
infuriate supporters of a beleaguered caretaker government.
Jakarta's Composite Index rose 0.8 percent on
popular Jakarta Governor Joko "Jokowi" Widodo increasing chances
in July's presidential election on Tuesday. The index, Southeast
Asia's best performer this year according to Thomson Reuters
data, notched up a weekly gain of 2.7 percent.
Shares of PT Bumi Resources extended gains on Friday, rising
as much as 8.1 percent, after the Indonesian coal miner said
earlier this week it swung to a net profit for its first quarter
from a loss a year ago.
Vietnam's benchmark VN Index ended up 1.04 percent
amid bargain hunting. It fell 2.4 percent on the week, the
region's worst, amid concerns about an ongoing dispute between
Vietnam and China over parts of South China Sea.
Stocks in Singapore and Malaysia posted
modest gains on the week. Philippines was down 0.4
percent on the week after seven consecutive weeks of gains.
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 423.56 423.04 +0.12
Singapore 3262.59 3272.49 -0.30
Kuala Lumpur 1883.34 1879.83 +0.19
Bangkok 1405.26 1395.21 +0.72
Jakarta 5031.57 4991.63 +0.80
Manila 6817.71 6849.33 -0.46
Ho Chi Minh 529.49 524.05 +1.04
Change on year
Market Current End 2013 Pct Move
TR SE Asia Index* 423.56 388.37 +9.06
Singapore 3262.59 3167.43 +3.00
Kuala Lumpur 1883.34 1866.96 +0.88
Bangkok 1405.26 1298.71 +8.20
Jakarta 5031.57 4274.18 +17.72
Manila 6817.71 5889.83 +15.75
Ho Chi Minh 529.49 504.63 +4.93
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
(Reporting by Viparat Jantraprap; Editing by Prateek