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SE Asia Stocks-Manila slips from record high, others steady
January 24, 2012 / 10:06 AM / 6 years ago

SE Asia Stocks-Manila slips from record high, others steady

* Thailand, Indonesia lose most gains on late selling
    * Manila pulls back from all-time high hit Monday
    * Manila, Jakarta see foreign inflows
    * Other bourses still closed for holiday

    By Shihar Aneez	
    Jan 24 (Reuters) - The Philippine stock market fell
from a record high on Tuesday in thin trade, while Thailand and
Indonesia ended a shade higher and other Southeast Asian markets
remained closed because of Lunar New Year holidays.	
    Events in Europe continued to dominate trade, with
governments and private bond holders failing to come to an
agreement on a restructuring of Greece's debt. 	
    "The market was quite volatile -- a solution for the Greek
debt issue is still not clear," said Teerada Charnyingyong, a
strategist with broker Phillip Securities in Bangkok.	
    The Philippines, the best performer in the region so
far this year, slid 0.7 percent from the record closing high hit
on Monday. Even so, Manila saw foreign inflows of $21.6 million
and Jakarta received a net $11.9 million. 	
    Thailand ended flat while Indonesia edged up
0.2 percent. 	
    Banks ended firmer in Bangkok. They have reported lower
fourth-quarter results over the past week because of severe
flooding last year, but analysts said they should deliver higher
profits in 2012 because of strong demand for loans from
companies and the public sector. 	
     Top lender Bangkok Bank and Krung Thai Bank
 gained 1 percent and 1.3 percent respectively. 	
     Shares in Thai polyester producer Indorama Ventures
 jumped 3.2 percent on expectations of better margins
this year. 	
    In Manila, analysts were relaxed about the day's fall.	
    "It's a healthy correction to bring shares back to
attractive price levels," said Accord Capital Equities analyst
Justino Calaycay. "The market is still bullish and we expect
food and beverage and energy shares to do well this quarter." 	
    The MSCI's broadest index of Asia-Pacific shares outside
Japan was down 0.1 percent at 0948 GMT.	
(Editing by Alan Raybould)	
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 Change on day
 Market             Current     Prev Close    Pct Move
 Bangkok            1063.08       1062.55       +0.05
 Jakarta            3994.58       3986.52       +0.20
 Manila             4714.35       4747.90       -0.71
 Change on year
 Market             Current     End prev yr    Pct Move
 Bangkok            1063.08       1025.32       +3.68
 Jakarta            3994.58       3821.99       +4.52
 Manila             4714.35       4371.96       +7.83
 Stock Market Volume (shares)
 Market          Current Volume    Average Volume 30 days
 Bangkok             4,714,478            3,262,819       
 Jakarta         2,073,832,500        3,492,256,400    
 Manila                 67,777              139,179

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