BANGKOK, March 28 Southeast Asian stock markets
rose on Friday on hopes about stimulus in China and foreign
inflows into the region, with the Thai benchmark climbing to a
near-two-week high after late buying in large-caps.
A bout of buying via block trades in index heavyweights such
as Siam Commercial Bank, Advanced Info Service
and PTT Exploration and Productions sent
the SET index 1 percent higher to close at 1,368.90.
Institutional investors were more active as part of their
'window dressing' activities but the market was keeping a watch
on domestic political developments, said analyst Koraphat
Vorachet at broker Nomura Pattanasin.
"High stock valuations could limit room for more strong
gains from this point. With the current political risk, the
index could see technical-led selling around the 1,380 level,"
Thai shares ended up 0.6 percent on the week, recouping most
of their falls in the previous week.
Singapore's Straits Times Index was among the
outperformers in the region, ending 3.2 percent higher on the
week, on buying in battered property shares such as Hongkong
Land Holdings and City Developments.
Malaysia reported a net foreign buying of 272
million ringgit ($82.64 million), Indonesia saw inflows
worth a net 1.27 trillion rupiah ($111.30 million) and the
Philippines posted 1.14 billion pesos ($25.3 million) of
inflows, according to Thomson Reuters and stock exchange data.
Asian markets gained on Friday, with MSCI's index of
Asia-Pacific shares outside Japan up 0.8 percent
helped by reports Beijing would fast-track infrastructure
China's Premier Li Keqiang sought to reassure jittery global
investors that Beijing was ready to support the cooling economy,
saying the government had the necessary policies in place and
would push ahead with infrastructure investment.
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 406.94 403.03 +0.97
Singapore 3172.17 3162.46 +0.31
Kuala Lumpur 1850.73 1846.87 +0.21
Bangkok 1368.90 1355.95 +0.96
Jakarta 4768.28 4723.06 +0.96
Manila 6359.62 6315.69 +0.70
Ho Chi Minh 594.29 590.14 +0.70
Change on year
Market Current End 2013 Pct Move
TR SE Asia Index* 406.94 388.37 +4.78
Singapore 3172.17 3167.43 +0.15
Kuala Lumpur 1850.73 1866.96 -0.87
Bangkok 1368.90 1298.71 +5.40
Jakarta 4768.28 4274.18 +11.56
Manila 6359.62 5889.83 +7.98
Ho Chi Minh 594.29 504.63 +17.77
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
($1 = 45.0300 Philippine peso)
($1 = 11447.5000 Indonesian rupiah)
($1 = 3.2915 Malaysian ringgit)
(Reporting by Viparat Jantraprap; Editing by Sunil Nair)