BANGKOK, June 14 Stocks in Thailand, Indonesia
and the Philippines posted strong gains on Friday, as upbeat
U.S. economic data overnight brought in some relief to global
markets but cautions remained ahead of a U.S. Federal Reserve
policy meeting next week.
Some foreign money returned following market sell-offs early
in the week, which sent most Southeast Asian stock indexes into
The Thai benchmark SET index gained 4.4 percent on
the day, trimming its loss on the week to 3.4 percent, with
large caps such as Kasikornbank Pcl recouping some
recent losses amid short-covering activities.
Indonesia's main index closed up 3.3 percent at
4,760.74, still down 2.2 percent on the week. Banking shares
soared 4.5 percent following Bank Indonesia's deposit
The Philippine main index ended up 2.1 percent, with
a weekly drop of 6.9 percent. Fund outflows derailed this year's
rally in one of Southeast Asian outperformers, with its
year-to-date gain falling to 7.4 percent.
"I am not concerned because Philippine economic fundamentals
are good and improving," Philippine Finance Secretary Cesar V.
Purisima wrote to reporters via email on Friday.
"Markets go up and down but we should not lose sight of the
fact that from the macroeconomic standpoint, fiscal standpoint,
external standpoint, and governance standpoint, the Philippines
is much better and stronger than it was in 2008," Purisima said.
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 429.37 414.16 +3.67
Singapore 3161.43 3130.69 +0.98
Kuala Lumpur 1762.19 1742.87 +1.11
Bangkok 1465.27 1403.27 +4.42
Jakarta 4760.74 4607.66 +3.32
Manila 6242.26 6114.08 +2.10
Ho Chi Minh 509.03 515.09 -1.18
Change on year
Market Current End prev yr Pct Move
TR SE Asia Index* 429.37 424.10 +1.24
Singapore 3161.43 3167.08 -0.18
Kuala Lumpur 1762.19 1688.95 +4.34
Bangkok 1465.27 1391.93 +5.27
Jakarta 4760.74 4316.69 +10.29
Manila 6242.26 5812.73 +7.39
Ho Chi Minh 509.03 413.73 +23.03
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
Stock Market Volume (shares)
Market Current Volume Average Volume 30 days
Singapore 258,961,600 272,313,503
Kuala Lumpur 159,414,800 184,187,400
Bangkok 9,679,087 10,045,656
Jakarta 4,719,408,000 4,873,130,683
Manila 195,689 118,418
Ho Chi Minh 60,974 70,782