SE Asia Stocks-Up; Indonesia up on dividend plays; Fed chief testimony eyed

jueves 27 de febrero de 2014 02:21 GYT
 

BANGKOK, Feb 27 (Reuters) - Southeast Asian stock markets
gained on Thursday, with Indonesia up on selective buying in
shares with good dividend yields, but investors across the
region were largely on  the defensive ahead of the U.S. Federal
Reserve chairman's testimony on the Fed monetary policy plan.
    Asian shares struggled to find a solid footing on Thursday
as escalating tensions in Ukraine sent investors scurrying to
the safety of the dollar and U.S. Treasuries. 
    Jakarta's Composite Index was up 0.4 percent, led by
shares of Bank Negara Indonesia and Bank Mandiri
, among attractive dividend-yielding stocks.
    Indonesia had come under selling pressure over the past
three sessions amid profit taking after the market rallied to a
five-month high last week and on caution ahead of trade data for
January, due out next week.
    "We expect January trade balance to remain surplus, albeit
much smaller than $1.5 billion in December. We suggest investors
to start buying on weakness as we think downside is limited at
this point," said a report from Jakarta-based Trimegah
Securities.
    The Thai SET index rose 0.4 percent, with banking
shares up 1.3 percent in their dividend announcement
week.
    Fears about the street violence in downtown Bangkok this
week and concerns over the political impact on the domestic
economy have kept the market in a tight range.
    "Overall Thailand's economy should continue to show it
suffered from political turmoil and the absence of a permanent
government," strategists at broker KGI Securities said in a
report.
    Thailand's anti-corruption agency brings charges of
negligence against Prime Minister Yingluck Shinawatra on
Thursday as anti-government protesters demand her ouster in a
standoff marred by violence that shows no sign of coming to an
end. 
    Stocks in Singapore, Malaysia, the
Philippines and Vietnam posted limited gains as 
MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.3 percent ahead of Janet Yellen's
testimony. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0555 GMT    
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   395.50        394.46       +0.26
 Singapore          3094.14       3088.25       +0.19
 Kuala Lumpur       1828.88       1822.55       +0.35
 Bangkok            1309.34       1304.62       +0.36
 Jakarta            4552.04       4532.72       +0.43
 Manila             6337.08       6322.60       +0.23
 Ho Chi Minh         594.42        589.81       +0.78
 * The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.