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SE Asia Stocks-Thailand, Indonesia, Philippines rebound but cautions remain
June 14, 2013 / 10:41 AM / 4 years ago

SE Asia Stocks-Thailand, Indonesia, Philippines rebound but cautions remain

BANGKOK, June 14 (Reuters) - 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
oversold territory.
    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
rate hike. 
    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

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