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SE Asia Stocks-Philippine, Indonesia lead losses on week
June 7, 2013 / 10:46 AM / in 4 years

SE Asia Stocks-Philippine, Indonesia lead losses on week

BANGKOK, June 7 (Reuters) - Most Southeast Asian stocks
gained on Friday as shares in blue-chip firms recovered from
losses early in the week, but investors remained cautious ahead
of U.S. jobs data to gauge when a potential rollback of the U.S.
quantitative easing begins.
    The Philippine index extended its gain for a second
session, climbing 1.4 percent to 6,701.95, with index
heavyweights such as SM Investments Corp and Philippine
Long Distance Telephone among most actively traded.
    The index ended the week down 4.6 percent, the biggest
weekly drop since May 2012, with the market seeing $189 million
in net foreign outflows in the week to Thursday, according to
Thomson Reuters data.
    Foreign selling sent Jakarta's Composite Index 2.7
percent lower on the day to 4,865.32, the lowest close since
March 26. The index posted a weekly loss of 4 percent, its worst
since September 2011. 
    Stocks in Thailand rebounded amid bargain hunting, with
strong buying interest kicking in late in the session. The main
SET index finished up 1.8 percent at 1,516.24, trimming
its loss on the week to 2.9 percent.
    "Valuations have turned more supportive and the market is
poised for a tactical recovery after the U.S. FOMC meeting June
18-19. We view that given modest U.S. growth and noticeably low
U.S. core inflation the FOMC will not signal an imminent
tapering of QE," a KGI strategist wrote in a report.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   427.90        425.49       +0.57
 Singapore          3184.72       3193.51       -0.28
 Kuala Lumpur       1775.59       1769.60       +0.34
 Bangkok            1516.24       1490.21       +1.75 
 Jakarta            4865.32       5001.22       -2.72
 Manila             6701.95       6609.01       +1.41
 Ho Chi Minh         527.97        520.90       +1.36
 
 Change on year
 Market             Current     End prev yr    Pct Move
 TR SE Asia Index*   427.90        424.10       +0.90
 Singapore          3184.72       3167.08       +0.56
 Kuala Lumpur       1775.59       1688.95       +5.13
 Bangkok            1516.24       1391.93       +8.93
 Jakarta            4865.32       4316.69      +12.71
 Manila             6701.95       5812.73      +15.30
 Ho Chi Minh         527.97        413.73      +27.61
 
* The Thomson Reuters South East Asia Index               is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
    
 Stock Market Volume (shares)
 Market          Current Volume    Average Volume 30 days
 Singapore         276,119,900          272,313,503      
 Kuala Lumpur      145,169,800          183,577,810      
 
 Bangkok             8,089,805            9,984,707      
 Jakarta         3,773,252,000        4,771,230,900    
 Manila                131,762              112,347    
 Ho Chi Minh            74,548               63,822

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