April 30, 2013 / 10:51 AM / 5 years ago

SE Asia Stocks-Firmer; Indonesia, Malaysia hit record high

April 30 (Reuters) - All Southeast Asian stocks gained on
Tuesday with Indonesia and Malaysia hitting record highs, on
strong quarterly earnings and expectations that the U.S. Federal
Reserve and the European Central Bank would continue with
growth-supportive monetary stimulus measures.
    The broader Jakarta Composite Index rose 0.7 percent
to a record high of 5,034.07, surpassing its previous peak of
5,026.92 hit on April 22. 
    Unilever Indonesia Tbk PT, which jumped 14.1
percent to a five-month high, helped the index gain. 
    The rally in the share was linked to the news that Unilever
Plc  was to raise its stake in India unit, said
Jemmy Paul, head of equity, Sucorinvest Asset Management.  
    Anglo-Dutch consumer goods giant Unilever offered to pay as
much as $5.4 billion to raise its stake in its Indian unit,
banking on fast-growing spending power in Asia's third-largest
economy. 
    James Allison, the company's head of investor relations and
M&A, said later in the day that Unilever Plc does not intend to
increase its stake in Indian arm Hindustan Unilever 
beyond 75 percent. 
    Malaysia's broader index also hit a record high of
1,718.44, before ending at a record close of 1,717.65 with a 0.6
percent gain led by financials and a $209.34 million foreign
inflow.
    The Malaysian stock exchange has reported a net foreign
buying of 4.7 billion ringgit ($1.55 billion) so far in the
month, outperforming most other regional peers.
    The Singapore Straight Times index gained 0.2
percent to a five-year high, the Philippine gained 0.6
percent and Thailand jumped 0.8 percent led by energy
shares. 
    Vietnam was closed for a holiday. 
        
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   450.65        450.06       +0.13
 Singapore          3368.18       3361.92       +0.19
 Kuala Lumpur       1717.65       1707.97       +0.57
 Bangkok            1597.86       1584.93       +0.82
 Jakarta            5034.07       4999.75       +0.69
 Manila             7070.99       7028.35       +0.61
 Ho Chi Minh           -           474.51         -  
 
 Change on year
 Market             Current     End prev yr    Pct Move
 TR SE Asia Index*   450.65        424.10       +6.26
 Singapore          3368.18       3167.08       +6.35
 Kuala Lumpur       1717.65       1688.95       +1.70
 Bangkok            1597.86       1391.93      +14.79
 Jakarta            5034.07       4316.69      +16.62
 Manila             7070.99       5812.73      +21.65
 Ho Chi Minh         474.51        413.73      +14.69
 
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.

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