May 6, 2014 / 6:45 AM / in 4 years

SE Asia Stocks-Largely range-bound; Thai, Vietnam shares fall

BANGKOK, May 6 (Reuters) - Most Southeast Asian stock
markets were range-bound on Tuesday, with Philippine shares
trimming some gains after inflation in April came in slightly
higher than expected while Thai shares pared early gains with
domestic political issues in focus.
    The Philippine index was up 0.01 percent, with
analysts expecting a second reserve requirement hike at this
week's central bank policy meeting amid rising inflationary
    Among outperformers, shares of Megaworld Corp 
jumped 2.2 percent after broker Maybank ATR Kim Eng upgraded the
stock to 'buy', partly due to the real-estate company's land
bank expansion.
    Thai SET index was down 0.03 percent at midday
thanks to a key ruling on caretaker Prime Minister Yingluck
    Yingluck arrived at the Constitutional Court on Tuesday to
defend herself against charges of abuse of power, one of two
legal challenges that could see her removed from office this
    "The SET is likely to remain in a sideways pattern until
there is more clarity on the major political events,"
strategists at broker KGI Securities wrote in a report.
    Market holidays in major Asian stock markets such as Japan
 kept trading in Southeast Asia subdued.
    Shares in Indonesia edged cautiously higher.
Investors looked forward to Bank Indonesia's policy meeting
later this week after recent data showed the country's economy
in the first quarter grew at its slowest in more than four
    Vietnam's benchmark VN Index tumbled to its lowest in
nearly three months as investors sold to cut losses, an analyst
    Asian share markets shuffled higher on Tuesday after
promising U.S. economic news helped Wall Street to a firmer
finish. MSCI's broadest index of Asia-Pacific shares outside
Japan added 0.2 percent. 
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 Change at 0622 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   419.62        419.80       -0.04
 Singapore          3246.85       3241.60       +0.16
 Kuala Lumpur       1860.45       1860.54        0.00
 Bangkok            1421.07       1421.48       -0.03
 Jakarta            4845.15       4842.50       +0.05
 Manila             6767.39       6766.46       +0.01
 Ho Chi Minh         546.70        564.85       -3.21
* 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; Additional reporting by Mai
Nguyen in Hanoi; Editing by Sunil Nair)
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