BANGKOK, Jan 21 Thai shares rose on Tuesday as
expectations of interest rate cut bolstered broader sentiment,
while most Southeast Asian stock markets rebounded in line with
gains in Asian stock markets.
The key SET index was up 0.9 percent at 1,301.61 by
midday, with players piling into large caps after their recent
Shares of airport operator Airports of Thailand
climbed 3.8 percent after a 5 percent drop over the past two
sessions and telecom operator Advanced Info Service
rose 1.4 percent, recouping some losses over the past two days.
The Bank of Thailand's monetary policy committee is expected
to cut its benchmark interest rate by 25 basis points on
Wednesday to help the economy cope with prolonged political
Brokers expect profit-taking around key 1,300 level, citing
the large-scale anti-government protests in Bangkok which
entered the second week, showing no signs of ending soon as the
group's demand for Prime Minister Yingluck Shinawatra to step
down has not been met.
"The political uncertainty and weaker economy could keep the
market in check at this point. But today we see expectations
about rate cut helped make growth and dividend yielding stocks
more attractive," said Pichai Lertsupongkij, a senior analyst at
broker Thanachart Securities.
Stocks in Singapore, Malaysia and Indonesia
edged slightly higher as MSCI's broadest index of
Asia-Pacific shares outside Japan was up 0.5
Among weak spots in the region, shares of cement companies
such as Semen Indonesia and Indocement
slipped amid concerns about the impact of flooding in the
country on sales, brokers said.
Stocks in the Philippines eased 0.1 percent after
four sessions of gains, while Vietnam fell 0.5 percent
ending 12 sessions of rises.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0544 GMT
Market Current Prev Close Pct Move
TR SE Asia Index* 385.34 383.93 +0.37
Singapore 3138.72 3128.79 +0.32
Kuala Lumpur 1815.12 1807.59 +0.42
Bangkok 1301.61 1289.99 +0.90
Jakarta 4447.73 4431.57 +0.36
Manila 5998.09 6005.60 -0.13
Ho Chi Minh 550.68 553.67 -0.54