June 9, 2014 / 7:12 AM / in 4 years

SE Asia Stocks-Most up; Industrial estate shares lead Thai gains

BANGKOK, June 9 (Reuters) - Thai stocks rose on Monday as
expectations of a boost to foreign direct investments lifted
shares of industrial estate developers, while Indonesian banking
stocks fell as investors awaited the central bank's monetary
policy meeting later this week.
    Thailand's military government appointed a new 18-member
executive for the Board of Investment to be headed by the leader
of the National Council for Peace and Order and army chief
General Prayuth Chan-ocha, the Nation newspaper reported. (link.reuters.com/vex89v)
    Analysts expect the new board's chief to expedite the
approval process of investment projects.
    "He is likely to push for approval of investment
applications delayed during the political deadlock," strategists
of broker KGI Securities wrote in a report.
    Shares of the biggest industrial estate developer Amata Corp
Pcl rose 3.1 percent, while other industrial estate
developer Rojana Industrial Park Pcl jumped 4.5
percent to its highest since Oct. 21.
    The benchmark SET index was up 0.2 percent at
1,460.29 by midday, climbing at one point to 1,466.15, the
highest in more than seven months.
    Jakarta's composite index eased 0.5 percent to a
near one-week low, amid active selling in shares of Bank Rakyat
Indonesia, Bank Central Asia and Bank
    Bank Indonesia is due to meet on June 12. The central bank
left its key reference rate at 7.5 percent in the previous
meeting on May 8, as widely expected. 
    Other share markets in Southeast Asia mostly edged higher.
Positive U.S. and China data pointed to global recovery,
bolstering sentiment in Asia and supportive to foreign equity
inflows to the region, analysts said.
    Vietnam's benchmark VN Index gained 1.3 percent, led
by Petrovietnam Gas and several other blue chips.
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 Change at 0638 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   427.12        425.86       +0.29
 Singapore          3302.08       3299.43       +0.08
 Kuala Lumpur       1862.40       1862.70       -0.02
 Bangkok            1460.29       1458.02       +0.16
 Jakarta            4911.52       4937.18       -0.52
 Manila             6791.31       6762.62       +0.42
 Ho Chi Minh         567.72        559.04       +1.55
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.   

 (Reporting by Viparat Jantraprap; Editing by Anand Basu)
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