SE Asia Stocks-Thai up on solid buying; Vietnam erases gains
HANOI, April 18 (Reuters) - Shares in Thailand rose on Friday morning, extending gains of the previous two sessions on strong fund inflows from both foreign and domestic investors, while the Vietnam market retreated on widespread offloading of shares. Bangkok's SET Index edged up 0.27 percent to a five-month intraday high on Friday, after climbing a combined 1.4 percent over the previous two sessions, Reuters data showed. "We see increasing demand for risky assets such as stocks in emerging markets," Krungsri Securities said in a note to clients on Friday, citing positive indications by the U.S. Federal Reserve on the country's economic recovery and improvement in the job market. "Another potential market driver will be speculative trading during 1Q14 earnings season," Krungsri added. Top gainers in the Thai market included telecom firm Advanced Info Service Pcl which rose 0.84 percent and Siam Commercial Bank Pcl that climbed 0.92 percent. Foreign investors net bought Thai shares worth 1.73 billion baht ($53.77 million) on Thursday. Malaysia's benchmark Kuala Lumpur Composite Index also inched up 0.06 percent. However, Vietnam stocks dropped 0.92 percent in the morning session, erasing almost all of Thursday's gains as investors offloaded shares with high price-to-earning ratios. Markets in Indonesia, the Philippines and Singapore were closed for a holiday and will reopen on Monday. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0521 GMT Market Current Prev Close Pct Move TR SE Asia Index* 421.43 421.55 -0.03 Kuala Lumpur 1851.65 1850.54 +0.06 Bangkok 1412.57 1408.78 +0.27 Ho Chi Minh 574.96 580.31 -0.92 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. ($1 = 32.1750 Thai Baht) (Reporting by Mai Nguyen; Editing by Anupama Dwivedi)
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