SE Asia Stocks-Philippine shares snap 4 day losing streak; other mkts range-bound

martes 29 de abril de 2014 01:22 GYT

April 29 (Reuters) - Southeast Asian shares were mostly
range-bound on Tuesday with investor appetite muted after a late
rally on Wall Street and as markets in Tokyo were closed for a
    Philippine stocks outperformed other markets, with the main
index snapping four straight sessions of losses to edge
up 0.4 percent.
    Analysts attributed the gains to bargain-hunting among
investors and a rally on Wall Street, with the Dow Jones 
index closing 0.53 percent firmer.
    "The market has been taking its cue from the recovery in the
Dow Jones, but there has also been some bargain-hunting
involved," said a Philippine-based market strategist from
Asiasec Equities.
    Top performers on the index include Philippines' biggest
power utility firm Manila Electric Co and property
company Robinsons Land Corp, which advanced 3 percent
and 2.3 percent respectively.
    Financial results from a slew of companies are expected this
week, which has given investors room for optimism. Casino
operator Bloomberry Resorts Corp posted a strong
recovery in first-quarter profit on Monday.
    Bloomberry shares were among the top gainers, rising 1.9
percent to their highest in more than seven months.
    Other markets were mostly range-bound, with Malaysia
, Indonesia and Vietnam remaining little
    Singapore's benchmark Straits Times Index fell 0.4
percent, dragged by losses in United Overseas Bank Ltd 
which reached its ex-dividend date, prompting a sell-off from
    Shares of UOB, the smallest of Singapore's three banks by
assets, plunged as much as 4.8 percent to hit their lowest in 5
    Losses in Jardine Cycle & Carriage Ltd also
weighed on the index, falling 3.5 percent to a 2-1/2 week low. 

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 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   416.35        417.29       -0.23
 Singapore          3230.23       3242.71       -0.38
 Kuala Lumpur       1856.16       1855.74       +0.02
 Bangkok            1408.19       1411.23       -0.22
 Jakarta            4812.38       4818.76       -0.13
 Manila             6632.73       6604.35       +0.43
 Ho Chi Minh         573.82        573.10       +0.13
 * 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 Andrew Toh; Editing by Anupama Dwivedi)