SE Asia Stocks-Malaysia up ahead of rate decision; PTT weighs on Thai shares

jueves 6 de marzo de 2014 03:23 GYT

BANGKOK, March 6 (Reuters) - Southeast Asian stock markets
rose on Thursday, with Singapore, Malaysia and Indonesia heading
for a third straight day of gains amid easing tensions in
Ukraine, while Thai shares trimmed most early rises as large cap
PTT traded ex-dividend.
    Asian shares pushed higher as diplomatic efforts moderated
the crisis over Ukraine, with MSCI's broadest index of
Asia-Pacific shares outside Japan up 0.7 percent
by 0614 GMT. 
    Singapore's key index was up 0.5 percent, hovering
around its highest in 1-1/2 months. Indonesia rose 0.2
percent to a near six-month high. Shares of Singapore
Telecommunications and Bank Rakyat Indonesia 
were among the actively traded on the indexes.
    Malaysia edged up 0.2 percent amid buying in large
caps such as Tenaga Nasional ahead of the central
bank's interest rate meeting later in the day. Bank Negara is
expected to keep its policy interest rate unchanged at 3
    The Thai SET index was slightly higher at midday,
helped by selective buying in banking stocks, while
shares of top energy firm PTT dropped 2.3 percent as they traded
    Thai stocks had gained over the past five sessions, helped
by short-covering and foreign-led buying. 
    Jitters over the political crisis remained, with the focus
on judicial efforts to remove Prime Minister Yingluck
Shinawatra, including a dereliction of duty charge brought
against her by the National Anti-Corruption Commission (NACC)
over the rice pledging scheme. 
    Phillip Securities advised profit-taking around 1,360-1,370.
The SET index was at 1,352.37 at midday. 
    "Foreign buying spree continued in Thai stocks, while
intraday volatility escalated after several straight sessions of
gains and in the absence of fresh catalysts, making the market
highly susceptible to profit-taking," the broker said in a note.
    Moody's Investors Service said that while it saw a negative
impact on growth, at this point Thailand's sovereign credit
profile was consistent with its Baa1 rating level and stable
    In Manila, shares were up 0.9 percent, led by
Philippine Long Distance Telephone Co, which jumped
almost 2 percent to its highest since Jan. 23 amid positive
market views on its 2013 earnings announcement. 
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 Change at 0614 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   403.23        400.59       +0.66
 Singapore          3131.15       3116.64       +0.47
 Kuala Lumpur       1832.03       1829.11       +0.16
 Bangkok            1352.37       1351.64       +0.05
 Jakarta            4669.13       4659.17       +0.21
 Manila             6511.04       6456.14       +0.85
 Ho Chi Minh         578.34        574.94       +0.59
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.