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SE Asia Stocks-Thai shares at week-high on local buying; others fall
February 3, 2014 / 10:38 AM / 4 years ago

SE Asia Stocks-Thai shares at week-high on local buying; others fall

BANGKOK, Feb 3 (Reuters) - Thai stocks hit one-week highs in
light volume on Monday as short-sellers bought back shares after
the weekend poll passed without violence, while shares in
Singapore fell to their lowest since November 2012 amid weakness
in Asia.
    The key SET index closed up 1.5 percent at 1,292.81,
its highest level since Jan. 24, led by telecoms firm Advanced
Info Service and Airports of Thailand, which
was among recently-battered tourism stocks.
    Singapore dropped 1.2 percent to 2,990.95 while
MSCI's broadest index of Asia-Pacific shares outside Japan
 eased 0.4 percent by 0949 GMT. 
    Indonesia and the Philippines ended down,
with foreign investors selling a net 453 billion rupiah ($37
million) and 806.6 million peso ($17.80 million), respectively, 
stock exchage and Thomson Reuters data showed. 
.
    Thai underperformance lured domestic buyers, although the
domestic risks pointed to near-term weakness, with data showing
foreign investors selling shares worth a net 3 billion baht
($90.88 million) while domestic institutions led buyers.
 
    Thai shares had fallen 12 percent in the three months to
January, the region's worst performer, due to the protracted
political crisis. 
    CIMB Securities (Thailand) maintained its 2014 SET index
target at 1,500, based on a forward price-to-earnings multiple
of 11, which was the market's last upcycle average.
    "Although there was no serious outbreak of violence with
only a few disruptions during yesterday's election, political
uncertainties are here to stay, in our view, as the Election
Commission cannot announce official results for some time and
there are several political minefields ahead," the broker said.
    Malaysia was shut for a market holiday and Vietnam
 remained closed for the country's Lunar New Year
festival, reopening on Feb. 6. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   377.42        377.69       -0.07
 Singapore          2990.95       3027.22       -1.20
 Bangkok            1292.81       1274.28       +1.45
 Jakarta            4386.26       4418.76       -0.74
 Manila             6015.30       6041.19       -0.43
 
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   377.42        388.37       -2.82
 Singapore          2990.95       3167.43       -5.57
 Kuala Lumpur          --         1866.96       -3.37
 Bangkok            1292.81       1298.71       -0.45
 Jakarta            4386.26       4274.18       +2.62
 Manila             6015.30       5889.83       +2.13
 Ho Chi Minh           --          504.63      +10.28
 
* The Thomson Reuters South East Asia Index               is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
    
 Stock Market Volume (shares)
 Market          Current Volume    Average Volume 30 days
 Singapore         203,798,000          171,754,107      
 Bangkok             3,880,459            4,603,158      
 Jakarta         3,183,800,900        2,830,770,517    
 Manila                 57,574               72,376

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