SE Asia Stocks-Thai shares ease on late sell out; Singapore near 11-mth high
HANOI, April 24 (Reuters) - Most Southeast Asian markets fell on Thursday with a late sell out erasing earlier gains in Thai shares though solid buying in the Singapore market pushed the Straits Times Index to a near eleven-month high. Bangkok's SET Index barely changed, edged down 0.05 percent on selling near market close that pushed trading volumes to a more than five-week high, Reuters data showed. The recent rallies in the index were mostly due to foreign investors cashing into laggard emerging markets, analysts said. "Once the portfolio rebalancing is over we are likely to see weaker trading environment," Maybank Kim Eng said in a note to clients. The Philippine SE Composite Index and Indonesia's Jakarta SE Composite Index, the region's best performers, fell 0.56 percent and 0.04 percent respectively. But Singapore's Straits Times Index bounced back from Wednesday's profit-taking session to close up 0.8 percent. Singapore Telecommunications Ltd, the city-state's biggest listed firm by market capitalisation, led the gains, rising 1.62 percent to close near a five-month high. Trade was thin in Vietnam as investors remained cautious after recent steep falls, and Malaysia also drifted lower by 0.11 percent. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at on day Market Current Prev Close Pct Move TR SE Asia Index* 421.06 420.47 +0.14 Singapore 3283.93 3258.01 +0.80 Kuala Lumpur 1865.28 1867.35 -0.11 Bangkok 1422.67 1423.39 -0.05 Jakarta 4891.08 4893.15 -0.04 Manila 6731.33 6769.52 -0.56 Ho Chi Minh 570.46 569.36 +0.19 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 421.06 388.37 +8.42 Singapore 3283.93 3167.43 +3.68 Kuala Lumpur 1865.28 1866.96 -0.09 Bangkok 1422.67 1298.71 +9.54 Jakarta 4891.08 4274.18 +14.43 Manila 6731.33 5889.83 +14.29 Ho Chi Minh 570.46 504.63 +13.05 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. (Reporting by Mai Nguyen; Editing by Anupama Dwivedi)
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