SE Asia Stocks-Thai shares rebound; most others up

martes 25 de febrero de 2014 02:21 GYT
 

BANGKOK, Feb 25 (Reuters) - Thai stocks rose on Tuesday due
to bargain hunting in battered  telecoms shares such as Advanced
Info Service, while the rest of Southeast Asia
mostly gained on a rally in Wall Street amid talk of more
mergers.
    The Thai key SET index was up 0.7 percent at midday,
rebounding from a near two-week low hit on Monday. Advanced Info
shares and its biggest shareholder Shin Corp both
climbed more than 1 percent, their first gains in six sessions.
    The telecoms shares had been under selling pressure after
data showed subscribers switched to rival mobile networks amid a
call by anti-government protesters to boycott businesses linked
to Prime Minister Yingluck Shinawatra. 
    Analysts expect limited market gains in the near term,
citing a few bomb blasts and shootings overnight in downtown
Bangkok that raised fears about street violence. 
    "We maintain that SET may continue to underperform regional
peers, amid political issues," strategists at broker KGI
Securities wrote in a report.
    Singapore's Straits Times Index edged up 0.1
percent, earlier touching a more than one-month high, with
MSCI's broadest index of Asia-Pacific shares outside Japan
 adding 0.5 percent. 
    U.S. stocks rose on Monday and the S&P 500 hit a record
intraday high, helped by gains in health insurers' shares and
optimism about merger activity. 
    The Philippine index edged up 0.04 percent, led by a
1.6 percent gain in shares of Manila Electric Co on
news that the stock will rejoin the Philippines' 30-company
benchmark index by March 17, replacing Manila Water.
 
    Indonesia slid 0.6 percent, extending Monday's loss
and further pulling away from a five-month high hit last week,
while Malaysia inched down 0.04 percent, with Malayan
Banking Bhd off 0.3 percent ahead of its
fourth-quarter results expected later in the week.
    Vietnam was up 0.9 percent, led by gains in some blue
chips. 
        
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0534 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   396.39        395.26       +0.29
 Singapore          3108.72       3105.84       +0.09
 Kuala Lumpur       1828.02       1828.68       -0.04
 Bangkok            1310.55       1301.38       +0.70
 Jakarta            4596.62       4623.57       -0.58
 Manila             6298.85       6296.32       +0.04
 Ho Chi Minh         581.51        576.58       +0.86
 * The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.