May 16, 2014 / 10:52 AM / in 4 years

SE Asia Stocks - Thai at two-week high amid hopes of political solution

BANGKOK, May 16 (Reuters) - Most Southeast Asian stocks
gained on Friday, with Thai shares climbing to a two-week high
amid hopes for a solution to the political crisis, while
Indonesia rose for a fifth day with PT Bumi Resources Tbk
    Bangkok's SET index ended up 0.7 percent at
1,405.26, the highest close since May 2, with large cap stocks
  leading the pack. The SET rose 2 percent on
the week, the biggest gain since the week ended March 7.
    Members of Thailand's Senate trying to devise a "road map"
out of a long political crisis are expected on Friday to propose
the appointment of an interim prime minister, a move which would
infuriate supporters of a beleaguered caretaker government.
    Jakarta's Composite Index rose 0.8 percent on
popular Jakarta Governor Joko "Jokowi" Widodo increasing chances
in July's presidential election on Tuesday. The index, Southeast
Asia's best performer this year according to Thomson Reuters
data, notched up a weekly gain of 2.7 percent. 
    Shares of PT Bumi Resources extended gains on Friday, rising
as much as 8.1 percent, after the Indonesian coal miner said
earlier this week it swung to a net profit for its first quarter
from a loss a year ago. 
    Vietnam's benchmark VN Index ended up 1.04 percent
amid bargain hunting. It fell 2.4 percent on the week, the
region's worst, amid concerns about an ongoing dispute between
Vietnam and China over parts of South China Sea. 
    Stocks in Singapore and Malaysia posted
modest gains on the week. Philippines was down 0.4
percent on the week after seven consecutive weeks of gains.
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 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   423.56        423.04       +0.12
 Singapore          3262.59       3272.49       -0.30
 Kuala Lumpur       1883.34       1879.83       +0.19
 Bangkok            1405.26       1395.21       +0.72
 Jakarta            5031.57       4991.63       +0.80
 Manila             6817.71       6849.33       -0.46
 Ho Chi Minh         529.49        524.05       +1.04
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   423.56        388.37       +9.06
 Singapore          3262.59       3167.43       +3.00
 Kuala Lumpur       1883.34       1866.96       +0.88
 Bangkok            1405.26       1298.71       +8.20
 Jakarta            5031.57       4274.18      +17.72
 Manila             6817.71       5889.83      +15.75
 Ho Chi Minh         529.49        504.63       +4.93
* 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

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