SE Asia Stocks-Thai shares breach 1,300; Malaysia rebounds before strong Q4 GDP
BANGKOK, Feb 12 (Reuters) - Thai stocks climbed 1.4 percent on Wednesday amid a rise in the baht and decent quarterly earnings by large caps, while others in Southeast Asia edged higher after China trade data and an optimistic economic outlook from the U.S. Federal Reserve chief. Thai key SET index closed at 1,314.06, the highest since Jan. 24, also helped by technical-led buying above 1,300 mark. Telecommunications company Advanced Info Service jumped 2.4 percent following a rise in quarterly earnings. "Investors have looked for an entry point on Thai stocks and so, the strong baht and a buying signal above 1,300 helped attract them today," said Teerawut Kanniphakul, a senior analyst at CIMB Securities. Thai baht traded around 32.56 against the dollar, up around 0.6 percent from the previous session, in line with gains in Asian currency. The domestic political risks would limit any near-term rally, brokers said, as investors awaited a coming court ruling on the case lodged by protesters seeking to have the emergency decree withdrawn. Malaysia pared early losses and closed up 0.1 percent. Malaysia's economy grew 5.1 percent in the fourth quarter, its fastest pace in a year and beating the forecast of 4.8 percent, supported by firm domestic demand and improving exports. The data came after market close on Wednesday. Stocks in Singapore ended up 0.2 percent at a two-week closing high, with Indonesia, the Philippines and Vietnam all higher as China's solid trade data boosted sentiment of Southeast Asian exporting countries. China's exports handily beat expectations in January, rising 10.6 percent from a year earlier, while imports jumped 10 percent, leaving the country with a trade surplus of $31.9 billion for the month, the Customs Administration said on Wednesday. Janet Yellen, fresh from taking the helm of the Federal Reserve, made it clear on Tuesday she would not make any abrupt changes to U.S. monetary policy, saying the central bank was on track to keep reducing its stimulus even though the labour market recovery was far from complete. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 387.23 384.25 +0.78 Singapore 3035.45 3029.10 +0.21 Kuala Lumpur 1825.64 1824.17 +0.08 Bangkok 1314.06 1296.25 +1.37 Jakarta 4496.28 4470.19 +0.58 Manila 6112.31 6106.03 +0.10 Ho Chi Minh 564.25 553.90 +1.87 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 387.23 388.37 -0.29 Singapore 3035.45 3167.43 -4.17 Kuala Lumpur 1825.64 1866.96 -2.21 Bangkok 1314.06 1298.71 +1.18 Jakarta 4496.28 4274.18 +5.20 Manila 6112.31 5889.83 +3.78 Ho Chi Minh 564.25 504.63 +11.81 * 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 170,223,900 187,036,037 Kuala Lumpur 122,838,800 123,273,680 Bangkok 5,580,873 4,765,636 Jakarta 4,053,679,200 2,887,646,273 Manila 129,618 71,056 Ho Chi Minh 126,103 94,127
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