March 31, 2014 / 7:02 AM / 4 years ago

SE Asia Stocks-Thai shares near 2-week highs; S'pore property up

BANGKOK, March 31 (Reuters) - Most Southeast Asian stocks
rose on Monday, with Thai shares hovering near two-week highs
amid buying in index heavyweights while Singapore shares gained
for a fourth session, helped by expectations of potential
stimulus in China. 
    The Thai SET index was up 0.7 percent at midday,
heading for a second month of gains. Among actively traded
shares, Kasikornbank rose to near two-week highs on
buying via a number of block
    Foreign investors and domestic institutions were active
buyers of Thai shares last week, mainly due to 'window
    Jitters over the domestic political crisis remain and the
market could be more subdued later in the week in the absence of
'window dressing', brokers said. 
    "We expect the Thai market to move up in a tight range on
Monday, as the short-term support from the buying at the end of
quarter remains. As the first quarter was quite tough, portfolio
managers are likely to have to manage their books," strategists
at broker KGI Securities wrote in a report.
    Singapore's Straits Times index rose 0.6 percent,
poised to end the month with a gain of more than 2 percent.
Shares of CapitaLand and CapitaMalls Asia 
led among the gainers. 
    The Philippine index was up 0.8 percent, on track for
a modest loss on the month. Shares of Alliance Global Group
 bucked the trend, down 0.4 percent after selling via a
block trade. 
    Stocks in Malaysia and Vietnam trimmed their
monthly gains to 0.7 percent and 1.3 percent, respectively. 
    Indonesia was shut for a market holiday. The index 
has gained 3.2 percent in March, a fourth straight month, and
was up 11.6 percent in the first quarter of the year.
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 Change at 0635 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   408.68        406.94       +0.43
 Singapore          3189.67       3172.17       +0.55
 Kuala Lumpur       1847.38       1850.73       -0.18
 Bangkok            1377.89       1368.90       +0.66
 Jakarta            4768.28       4723.06       +0.96
 Manila             6412.85       6359.62       +0.84
 Ho Chi Minh         593.25        594.29       -0.17
* 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 Suni Nair)
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