BANGKOK, Jan 8 Southeast Asian stock markets
mostly gained on Wednesday as investors bought back beaten-down
regional large caps along with positive sentiment in broader
Asia and strong U.S. trade data, with Indonesia trimming early
loss amid a fall in bond yields.
Thai stocks were up 0.1 percent at midday, erasing
some of their earlier gains, ahead of a court ruling later in
the day on the legality of the 2 trillion baht ($60.38 billion)
borrowing bill for infrastructure projects.
Brokers also cited cautions ahead of the large-scale
protests in Bangkok on Jan. 13 by anti-government protestors,
calling for a political reform to precede the election.
"Heading toward the end of the week, most investors will
either trim position or stay out of the market to monitor the
large scale anti-government protests," strategists at broker KGI
Securities wrote in a report.
Stocks in Singapore rose 0.8 percent after three
days of falls, Malaysia was up 0.5 percent, recovering
from five sessions of losses, while Philippine stocks
edged up 0.5 percent, reversing a fall on Tuesday.
The region saw a handful of selective buying in large caps
such as Singapore's United Overseas Bank, Malaysia's
Petronas Gas, Philippine Energy Development Corp
, Indonesia's Adaro Energy and Thailand's
Central Plaza Hotel.
Vietnam's index was up 0.37 percent as expectations
of solid earnings lifted blue chips. It rose on Tuesday after
the government said it would allow foreign investors to buy
bigger stakes in its banks from next month.
In Jakarta, the key index was nearly flat at
Broker Trimegah Securities said a fall in Indonesia's
10-year government bond yield on Tuesday after being auctioned
at relatively higher yield could be supportive to the share
"We expect JCI to go up today following yesterday's bond
yield improvement ... but we also expect buyers to remain
cautious," they wrote in a report.
"Demand during auction was not as broad as expected though,
with bids mostly coming from Southeast Asian investors, not much
from U.S. and Europe," they said.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0541 GMT
Market Current Prev Close Pct Move
TR SE Asia Index* 381.49 379.63 +0.49
Singapore 3143.91 3120.88 +0.75
Kuala Lumpur 1834.99 1825.11 +0.54
Bangkok 1263.85 1262.36 +0.12
Jakarta 4174.85 4175.81 -0.02
Manila 5976.38 5947.44 +0.49
Ho Chi Minh 512.02 510.12 +0.37