Reuters logo
SE Asia Stocks - Philippines falls after weak Q1 GDP, Thai up
May 29, 2014 / 6:16 AM / in 4 years

SE Asia Stocks - Philippines falls after weak Q1 GDP, Thai up

BANGKOK, May 29 (Reuters) - Philippine shares fell to their
lowest in nearly a month on Thursday after first-quarter GDP
growth came in lower than expectations, while Thai stocks
extended gains as rice payments to farmers and government
spending plans were seen reviving consumption.
    The Philippine main index was down 1.05 percent at
6,716.84, the lowest since May 2. Large caps underperformed, led
by shares of Ayala Land Inc and Metropolitan Bank &
Trust, each down more than 2 percent.
    The Philippine economy unexpectedly grew at its slowest
annual pace in over two years in the first quarter, hurt by the
impact of last year's super typhoon, but analysts stayed
optimistic robust consumption and investment would support
growth ahead. 
    In Bangkok, the SET index rose 0.5 percent to
1,409.60 by midday, climbing at one point to 1,413.25, the
highest since May 22.
    Builder Ch Karnchang, telecoms firm Advanced Info
Service and retailer Big C Supercenter 
were among the gainers.
    Nomura analysts are more positive on Thailand's retail
sector, mainly due to the prospect of a recovery in consumption,
with Big C among its top picks.
    "We believe the worst has passed for the retail sector,"
they wrote in a report.
    Thailand's military chief is meeting a team of advisers for
the first time on Thursday, a week after he seized power, to map
out a strategy for securing the country and propping up a
stumbling economy. 
    Thailand's military rulers are expected to unveil economic
policies next week, including the state budget. 
    Other markets in Southeast Asia edged higher amid positive
sentiment in Asia. 
    In Singapore, the benchmark index hit its highest
level in nearly a year. Shares of Singapore Post Ltd 
touched a record high after the company entered into an
investment agreement with Alibaba Investment Ltd.
    Indonesia is shut for a market holiday.    
For Asian Companies click;  
For South East Asia Hot Stock reports, click;

 Change at 0525 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   423.00        421.38       +0.38
 Singapore          3304.88       3271.84       +1.01
 Kuala Lumpur       1876.87       1871.66       +0.28
 Bangkok            1409.63       1402.79       +0.49
 Jakarta             closed       4963.93      closed 
 Manila             6716.84       6787.88       -1.05
 Ho Chi Minh         559.89        557.34       +0.46
 * 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 Prateek

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below