BANGKOK, July 23 Thai shares rose on Wednesday
as investors built positions in blue-chip stocks amid a clearer
political outlook while Indonesia edged up after Joko "Jokowi"
Widodo was declared the winner of presidential election.
The Thai SET index ended up 1.4 percent after
Tuesday's 1.15 percent fall with banking and consumer stocks as
outperformers. Bangkok Bank hit its highest level in
more than a week amid active buying.
Daiwa Capital Markets said in a report that it was more
positive on the prospects for the Thai economy.
"Developments following Thailand's recent coup shows that
this is not a typical Putsch, as it is pro-economic growth and
investor friendly," it said.
Thailand's head of state, King Bhumibol Adulyadej, endorsed
an interim constitution on Tuesday, while army leader General
Prayuth Chan-ocha could become prime minister in a government to
be set up under the newly drafted
Jakarta's composite index edged up, rebounding from
a 0.9 percent fall on Tuesday, amid worries about potential
unrest over the presidential election result.
Stocks in Singapore and most others in Southeast
Asia rose in line with broader Asian stock markets.
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 446.26 442.42 +0.87
Singapore 3340.70 3316.91 +0.72
Kuala Lumpur 1871.83 1871.36 +0.03
Bangkok 1541.56 1520.81 +1.36
Jakarta 5093.23 5083.52 +0.20
Manila 6892.92 6869.94 +0.33
Ho Chi Minh 597.50 597.98 -0.08
Change on year
Market Current End 2013 Pct Move
TR SE Asia Index* 446.26 388.37 +14.91
Singapore 3340.70 3167.43 +5.47
Kuala Lumpur 1871.83 1866.96 +0.24
Bangkok 1541.36 1298.71 +18.68
Jakarta 5093.23 4274.18 +19.16
Manila 6892.92 5889.83 +16.64
Ho Chi Minh 597.50 504.63 +18.40
* 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; Additional reporting by
Fransiska Nangoy in Jakarta; Editing by Subhranshu Sahu)