August 30, 2017 / 4:53 AM / 2 years ago

SE Asia Stocks-Thailand hits over 4-yr high ahead of factory output data

    By Chandini Monnappa
    Aug 30 (Reuters) - Thai shares hit their highest level in
more than four years on Wednesday before erasing the gains to
trade marginally higher ahead of the release of factory output
and inflation data this week.
    Thailand's SET index rose as much as 0.8 percent to
its highest since May 23, 2013 with energy and utility stocks
leading the gains.
    Gas and petroleum company PTT climbed as much as 2
percent, Airports of Thailand rose 2.3 percent and Siam
Commercial Bank climbed up to 2.4 percent to its
highest since July 27.
    A Reuters poll showed annual headline inflation rate may
have increased slightly in August and factory output likely
expanded, developments that would ensure the central bank still
has room to keep monetary policy loose.
    Thailand is scheduled to release its factory output data on
Thursday and headline inflation numbers on Friday. 
    Meanwhile, MSCI's broadest index of Asia-Pacific shares
outside Japan rose half a percent, taking cue
from Wall Street's higher close, as concerns about North Korea's
firing of a missile over Japan ebbed.
    "Asian bourses may see some further stabilisation if not
recovery today as the risk-off concerns fade a little," OCBC
Bank said in a note.
    Among other gainers in Southeast Asia, Singapore shares
 rose half a percent with financials accounting for nearly
half the gains.
    Oversea-Chinese Banking Corp was up 0.5 percent,
while United Overseas Bank gained 0.6 percent. 
    Meanwhile, Philippine shares fell with industrial
stocks accounting for half of the losses.
    JG Summit Holdings fell as much as 2.4 percent,
while Aboitiz Equity Ventures dropped more than 1
    For Asian Companies click;  

  Market           Current     previous close  Pct Move
  Singapore        3265.74     3249.34         0.50
  Bangkok          1614.61     1614.14         0.03
  Manila           7916.17     7948.39         -0.41
  Jakarta          5884.431    5888.212        -0.06
  Kuala Lumpur     1760.87     1761.14         -0.02
  Ho Chi Minh      776.44      774.03          0.31
  Change on year                               
  Market           Current     End 2016        Pct Move
  Singapore        3265.74     2880.76         13.36
  Bangkok          1614.61     1542.94         4.65
  Manila           7916.17     6840.64         15.70
  Jakarta          5884.431    5296.711        11.10
  Kuala Lumpur     1760.87     1641.73         7.26
  Ho Chi Minh      776.44      664.87          16.80

 (Reporting by Chandini Monnappa in Bengaluru; Editing by
Subhranshu Sahu)
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