BANGKOK, Jan 9 Thai stocks rose on Thursday as
investors built positions in dividend-yielding stocks and
exporters along with a broad weakness in the Thai baht
while Indonesian shares extended gains ahead of a rate decision
by the central bank.
Stocks in Singapore and Malaysia were
nearly flat while others in the region were largely range-bound
as Asian shares wavered after a lacklustre performance on Wall
The Thai SET index was up 1.2 percent at 1,272.14 at
midday, recouping mild losses on Wednesday, amid a rally in
exporters such as Delta Electronics Thailand and
telecoms group Shin Corporation.
The market bias tilted more towards the upside, with
resistance seen at 1,280, said broker Phillip Securities.
A hefty net foreign buying of almost 4 billion baht ($121
million) and continued net longs in index future for a
fifth session on Wednesday reflected more positive views among
foreign investors, Maybank Kim Eng Securities (Thailand)(MBKET)
"Most investors are focusing on the Bangkok shutdown on Jan.
13. MBKET expects the SET to significantly recover, if the
protest is held peacefully," the broker said in a note to
Indonesia's main index was up 0.3 percent, with
active buying in banking stocks such as Bank Rakyat Indonesia
. Bank Indonesia is expected to keep its key reference
rate unchanged at 7.5 percent on Thursday.
Mining shares were up 0.4 percent, building on
Wednesday's 1.7 percent gain after the government sought to ease
a looming mineral export ban.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0619 GMT
Market Current Prev Close Pct Move
TR SE Asia Index* 382.38 381.71 +0.18
Singapore 3149.35 3150.65 -0.04
Kuala Lumpur 1832.58 1831.30 +0.07
Bangkok 1272.14 1257.73 +1.15
Jakarta 4213.38 4200.59 +0.30
Manila 5950.59 5986.48 -0.60
Ho Chi Minh 514.37 513.90 +0.09