May 9, 2014 / 10:46 AM / 5 years ago

SE Asia Stocks -Philippines rises after S&P upgrade boosts inflows; Thai shares lag on week

BANGKOK, May 9 (Reuters) - Philippine shares rose to their
highest in 11 months on Friday as market cheered the surprise
Standard & Poor's credit rating upgrade, while Thai stocks
suffered their worst weekly drop in 19 weeks as the political
stalemate hurt investor sentiment.
    The Philippine main index was up 1.2 percent, ending
the week up 1.6 percent, a seventh consecutive week. The market
rally took its year to date gain to 14.8 percent in terms of
local currency, Asia's best performing market.
    S&P raised the Philippines' credit rating to two notches
above investment grade, the first debt watcher to do so, saying
reforms are likely to continue beyond the administration of
President Benigno Aquino. The report came late on
    Philippine bourse recorded a net foreign inflow of 758
million peso ($17.2 million) on the day, the biggest in more
than one week, according to Thomson Reuters and stock exchange
    In Bangkok, foreign investors further cut positions in
shares, sending the SET index 0.1 percent lower on the
day and down 3.1 percent on the week, Southeast Asia's second
worst performer after Vietnam, which was down 6.2
    Thai police fired teargas on Friday at royalist protesters
bent on bringing down a caretaker government after a court threw
Prime Minister Yingluck Shinawatra out of office and an
anti-graft agency indicted her for negligence. 
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 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   419.16        417.95       +0.29 
 Singapore          3252.13       3247.69       +0.14
 Kuala Lumpur       1866.72       1862.84       +0.21
 Bangkok            1377.37       1379.02       -0.12
 Jakarta            4898.14       4860.89       +0.77
 Manila             6847.26       6765.21       +1.21
 Ho Chi Minh         542.26        527.09       +2.92
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   419.16        388.37       +7.93
 Singapore          3252.13       3167.43       +2.67
 Kuala Lumpur       1866.72       1866.96       -0.01
 Bangkok            1377.37       1298.71       +6.06
 Jakarta            4898.14       4274.18      +14.60 
 Manila             6847.26       5889.83      +16.26
 Ho Chi Minh         542.26        504.63       +7.46
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
($1 = 44.1825 Philippine Pesos)

 (Reporting by Viparat Jantraprap; Editing by Anand Basu)
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