SE Asia Stocks-Most gain for the week; Philippine leads
SINGAPORE, May 2 (Reuters) - Most Southeast Asian markets closed higher on the week, with Philippine shares leading gains after solid corporate earnings pushed the index up from its 2-week low hit earlier this week. The Philippine index gained 0.9 percent this week as better-than-expected company earnings spurred investors to pour money back into the country's stocks. On Friday, the index was propped up by a late surge in Philex Mining Corp after the mining company reported core net profit more than doubled from the same period last year. Shares of the company closed 6.1 percent higher. Gains were also led by transportation firm International Container Terminal Services Inc which rose 4.2 percent. The company won a 26-year contract on Friday to construct and operate a container terminal in Melbourne, Australia. Thailand's SET index climbed 0.9 percent this week, stretching gains into a third week. Warehouse firm Sub Sri Thai PCL led gains with a 20 percent rise. Markets were jittery throughout the day as a marginal increase in China manufacturing activity and U.S. April payrolls report due after trading hours weighed on sentiment. Singapore's benchmark Straits Times Index fared poorly, closing 0.5 percent down on the week, despite record first-quarter earnings posted by the country's three banks. Indonesia fell 1.2 percent for the week, while Kuala Lumpur edged up 0.4 percent. The Vietnam market was closed on Friday for a public holiday. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 420.08 419.41 +0.16 Singapore 3252.55 3264.71 -0.37 Kuala Lumpur 1869.08 1871.52 -0.13 Bangkok 1421.48 1414.94 +0.46 Jakarta 4838.76 4840.15 -0.03 Manila 6742.97 6707.91 +0.52 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 420.08 388.37 +8.16 Singapore 3252.55 3167.43 +2.69 Kuala Lumpur 1869.08 1866.96 +0.11 Bangkok 1421.48 1298.71 +9.45 Jakarta 4838.76 4274.18 +13.21 Manila 6742.97 5889.83 +14.48 * 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 Subhranshu Sahu)
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