SE Asia Stocks-Firmer on easing Ukraine tension; Manila leads

miércoles 5 de marzo de 2014 03:47 GYT
 

March 5 (Reuters) - All Southeast Asian markets rose on
Wednesday as relief over the Ukraine tension after Russian
President Vladimir Putin's remarks helped boost appetite for
risky assets, with Philippines and Indonesia leading the gains.
    The Philippines share index gained 1.3 percent by
midday, while the Jakarta Composite Index was up 1.1
percent, at its highest since Feb. 24, led by financials.
    "We are not seeing the beginning of another cold war and
Russia is not getting ready for another war. So that helped
boost sentiment in the absence of no other bad news," said Song
Seng Wun, a Singapore-based CIMB economist.
    Putin said Russia reserved the right to use all options to
protect compatriots who were living in "terror" in Ukraine, but
that force was not needed for now., 
    Strategist Rakpong Chaisuparakul at Bangkok-based KGI
Securities said investors are also becoming more optimistic
about the US economy ahead of important economic data releases
including non-farm payrolls on Friday.
    Thai shares rose 0.2 percent, led by a 1 percent
gain in PTT PCL, after the country's top oil firm on
Wednesday said it expects its 2014 revenue to rise 4 percent due
to higher oil and gas demand, in line with the country's
economic growth.
    The Thai share index, which touched 1,357.39 on Wednesday,
its highest intraday level since Dec. 19, is poised to witness a
seventh straight session of gains on hopes of easing of the
political unrest that had dented foreign buying.
    Teerada Charnyingyong, a strategist at Phillip Securities,
said the key driver should be easing of the Ukraine tension.
    "The resistance level would be around 1360, while foreigners
have still been net buyers for a third consecutive day.
Short-term investors should be cautious on limited upside and
book partial profit around 1370."
    Foreign investors bought a net $75.17 million worth of Thai
shares in the first two sessions of this week, after having
offloaded stocks worth a net $3.9 billion since November through
Friday due to local political turmoil, according to Thomson
Reuters data.
    The Singapore share index was up 0.2 percent,
gaining for a second day, Malaysia was 0.1 percent
firmer, and Vietnam's benchmark VN Index gained 0.8
percent from a three-week low touched in the previous session on
bargain hunting. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0700 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   399.96        397.84       +0.53
 Singapore          3111.96       3104.71       +0.23
 Kuala Lumpur       1828.30       1826.46       +0.10
 Bangkok            1348.81       1345.82       +0.22
 Jakarta            4657.36       4601.28       +1.22
 Manila             6462.68       6394.60       +1.06
 Ho Chi Minh         574.51        569.97       +0.80 
 * The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.