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SE Asia Stocks-Manila at record; U.S. data feeds appetite
March 14, 2012 / 9:53 AM / 6 years ago

SE Asia Stocks-Manila at record; U.S. data feeds appetite

* Indonesia at 7-mth highs; S'pore 3-week highs
    * Consumer, banking shares lead
    * UBS upgrades S'pore index target

    By Viparat Jantraprap	
    BANGKOK, March 14 (Reuters) - Southeast Asian stocks
climbed on Wednesday, with Philippine shares setting a record
high, as upbeat U.S. economic data helped stoke appetite for
risk and demand for growth stocks lifted consumer and banking
shares.	
    The Philippine index finished up 0.9 percent. The
index hit an intraday peak of 5,070.20, breaching the previous
intraday all-time high of 5,039.29 set on March 6.	
    Jakarta's Composite Index rose 1.1 percent to end at
4,054.32, climbing at one point to 4,058.80, its highest since
Aug. 5. Singapore's Straits Times Index gained 1.25
percent to 3,026.40, slightly off a three-week intraday high of
3,027.61.	
    UBS upgraded its year-end target for the benchmark Straits
Times Index to 3,350 from 3,200 driven by expectation of some
upgrades in earnings forecasts. 	
    Malaysia's main index was up 0.75 percent,
Thailand's SET index was up 0.94 percent and the Ho Chi
Minh Stock Exchange's Vietnam Index edged up 1.04
percent. 	
    Sharemarkets saw late selling, brokers in the region said,
citing comments from Chinese Premier Wen Jiabao that doused
expectation of any near-term policy easing, warning that letting
up on regulation now would risk chaos in the housing market.	
    "Markets got somewhat distracted about the policy direction
by China. I think people were a bit cautious after the comment.
But investors' appetite seemed to be overall positive," said
Bangkok-based Teerada Charnyingyong, strategist at Phillip
Securities.	
    The MSCI Asia Pacific ex-Japan index was up
0.39 percent at 0936 GMT while the MSCI index of Southeast Asia
, made up of selected stocks, was up 0.81
percent.	
    In Singapore, United Overseas Bank Ltd gained 2.6
percent, with CIMB Research upgrading the stock to outperform
from neutral, citing a minor underperformance after
fourth-quarter results. 	
    In Bangkok, banking shares rose 2 percent, hotelier
Central Plaza Hotel Pcl climbed 5.3 percent and 
industrial estate developer Amata Corp Pcl gained 1.8
percent amid expectation of their strong earnings this year.	
    Among bright spots, Jakarta-listed PT Astra International
Tbk, a prominent motorcycle dealer and a proxy of
Indonesia's consumer sector, jumped 3.5 percent. Manila-listed
Ayala Land Inc surged 4.1 percent.	
    Kuala Lumpur-listed AirAsia Bhd, Asia's largest
budget carrier, rose 1.4 percent, recouping some of the combined
4.4 percent losses of past five sessions.	
    But in a March 13 research note, broker Citi said it rated
the stock a "sell", citing concern about the airline's rising
unit costs.   	
(Additional reporting by Singapore bureau; Editing by Robert
Birsel)    	
    	
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SOUTHEAST ASIAN STOCK MARKETS	
 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3026.40       2989.07       +1.25
 Kuala Lumpur       1575.71       1564.02       +0.75
 Bangkok            1164.36       1153.56       +0.94
 Jakarta            4054.33       4008.64       +1.14
 Manila             5050.99       5005.75       +0.90
 Ho Chi Minh         433.86        429.39       +1.04
 	
 Change on year
 Market             Current     End prev yr    Pct Move
 Singapore          3026.40       2646.35      +14.36
 Kuala Lumpur       1575.71       1530.73       +2.94
 Bangkok            1164.36       1025.32      +13.56
 Jakarta            4054.33       3821.99       +6.08
 Manila             5050.99       4371.96      +15.53
 Ho Chi Minh         433.86        351.55      +23.41
 	
 Stock Market Volume (shares)
 Market          Current Volume    Average Volume 30 days
 Singapore         422,705,600          391,736,517       
 
 Kuala Lumpur      168,270,300          155,682,950       
 
 Bangkok             4,315,244            4,847,206
 Jakarta         2,941,764,000        2,987,483,133    
 Manila                136,802              127,184    
 Ho Chi Minh            64,088               67,323

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