HANOI, June 3 Most Southeast Asian stocks rose
on Tuesday, in line with other regional equities, as the Thai
index touched a fresh seven-month high on hopes of economic
reform and Philippine shares posted their biggest gains since
Asian stocks climbed on Tuesday, supported by solid U.S. and
Chinese data that sent Japanese shares to two-month highs.
The Thai SET index extended its gains to a sixth
session, rising 0.92 percent to 1,454.24, the highest close
since Oct. 29.
The military junta governing Thailand after a May 22 coup
recently unveiled measures aimed at reviving an economy
threatened by recession after months of political turmoil.
Measures such as price caps on fuel and loan guarantees for
small firms are expected to kick-start the Thai economy, which
has boosted shares of banks and industrial developers.
Consumer confidence in Thailand also rose in May after
falling for 13 straight months, according to a university survey
carried out after the army seized power.
Kasikornbank Pcl was up 2.84 percent at a
near-one-year high at close while telecommunications firm
Advanced Info Service Pcl rose 1.69 percent.
The Philippine exchange gained for a second straight
session, ending 1.35 percent higher and reversing previous
week's losses after weaker-than-expected GDP growth data.
"Investors are slowly ignoring the disappointment over the
1Q14 GDP from last week," Asiasec Equities said in a report.
Analysts also attributed Tuesday's gains in the $172-billion
Philippine market to the positive data from China and the United
Property firm Ayala Land Inc led the gainers,
advancing 3.59 percent, followed by Universal Robina Corp
that closed 2.75 percent higher.
Other stock markets in the region also advanced. Indonesia's
Jakarta SE Composite Index rose 0.61 percent while
Malaysian shares gained 0.45 percent.
Vietnam's benchmark VN Index closed up 0.35 percent,
though analysts expected losses to emerge soon due to poor fund
inflows that dragged volumes on Tuesday to the lowest in nearly
Singapore's Straits Times Index bucked the trend,
retreating 0.17 percent from its one-year closing high hit on
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 424.49 421.99 +0.59
Singapore 3296.67 3302.24 -0.17
Kuala Lumpur 1872.55 1864.25 +0.45
Bangkok 1454.24 1440.94 +0.92
Jakarta 4942.16 4912.09 +0.61
Manila 6800.84 6710.40 +1.35
Ho Chi Minh 558.76 556.80 +0.35
Change on year
Market Current End 2013 Pct Move
TR SE Asia Index* 424.49 388.37 +9.30
Singapore 3296.67 3167.43 +4.08
Kuala Lumpur 1872.55 1866.96 +0.30
Bangkok 1454.24 1298.71 +11.98
Jakarta 4942.16 4274.18 +15.63
Manila 6800.84 5889.83 +15.47
Ho Chi Minh 558.76 504.63 +10.73
* 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 Mai Nguyen; Additional reporting by Erik dela
Cruz in MANILA; Editing by Anupama Dwivedi)