SE Asia Stocks - Most higher after ECB easing; Thailand up amid policy hopes

viernes 6 de junio de 2014 02:45 GYT
 

BANGKOK, June 6 (Reuters) - Thai shares rose on Friday and
were headed for their best weekly gain since January, as the
military government's policies revived economic prospects, but
analysts said an overbought market faced near-term
profit-taking.
    Singapore and most others in Southeast Asia snapped recent
losses as the European Central Bank's latest stimulus package
lifted investor sentiment in Asian stock markets. 
    Equity investors will next focus on the U.S. jobs report due
later on Friday for direction, brokers said. 
    Bangkok's SET index rose 0.2 percent by midday,
bringing its gain so far on the week to about 3 percent. The
SET's 14-day Relative Strength Index (RSI) was at 70.1,
indicating it was overbought, while others in the region were
relatively lukewarm.
    Shares of banks, consumer and construction
 firms led the weekly gains after the government
accelerated rice payments to farmers and unveiled construction
projects. 
    "Much of the optimism appears to have already been
discounted into the market. The market is awaiting fresh trading
cues from further developments in economic roadmap from the
National Council for Peace and Order," strategists at broker
Maybank Kim Eng Securities wrote in a report.
    Foreign investors were net buyers of Thai shares this week
till Thursday for 7.74 billion baht ($236.9 million) after nine
sessions of selling worth 33 billion baht since the imposition
of martial law on May 20. 
    In Jakarta, gains were led by consumer-related stocks such
as Astra International. Banks were weaker, led by Bank
Rakyat Indonesia, ahead of Bank Indonesia's interest
rate review next week. 
    "We expect BI to maintain its benchmark rate but note that
banks' deposit rates are climbing up, which is negative for
domestic cyclicals in general and banking in particular," said
Trimegah Securities.
    Philippine stocks were nearly flat, with index
heavyweight Philippine Long Distance Telephone among
the losers. A higher-than-expected inflation in May kept
investors cautions over the prospect of interest rates. 
 
    Indonesia and the Philippines both are on track for a gain
of more than 1 percent on the week, and are among the
outperformers. 
    Vietnam was, however, poised for a second week of
fall.
       
For Asian Companies click;  
For South East Asia Hot Stock reports, click;
   

SOUTHEAST ASIAN STOCK MARKETS
 Change at 0607 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   425.62        423.60       +0.49
 Singapore          3297.94       3279.64       +0.56
 Kuala Lumpur       1866.16       1869.00       -0.15 
 Bangkok            1456.55       1453.16       +0.23
 Jakarta            4952.51       4935.56       +0.34
 Manila             6772.16       6772.44        0.00
 Ho Chi Minh         554.02        551.10       +0.53
 * 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 = 32.67 baht)
($1 = 32.6700 Thai Baht)

 (Reporting by Viparat Jantraprap; Editing by Prateek
Chatterjee)