SE Asia Stocks - Mixed; Thai shares near 15-month highs

lunes 25 de agosto de 2014 01:49 GYT
 

BANGKOK, Aug 25 (Reuters) - The Thai benchmark index rose to
a near 15-month high on Monday as investors built positions in
shares with prospects of strong earnings amid hopes of political
stability while shares of plantation firms underperformed in
Southeast Asia.
    Thai military leader General Prayuth Chan-ocha was endorsed
as prime minister by Thailand's king on Monday, paving the way
for the formation of an interim government. 
    The SET index edged up 0.4 percent to 1,563.03, the
highest since June 3, 2013, adding on a combined 0.9 percent
rise over the past four days.
    "Domestic political developments have progressed slowly but
there are no positive surprises for the market. For the
meantime, the markets focus will remain on the cabinet lineup,"
broker Phillip Securities said in a report.
    Shares of Airports of Thailand rose for a second
day to a record high. Broker Kt Zmico Securities upgraded the
airport operator's earnings estimates for fiscal year 2015 and
2016, citing the government's policy to boost tourism from
China.
    "The Thai government's recent decision to waive visa fees
for Chinese tourists for three months to November in order to
boost the tourism industry is expected to be positive to AOT's
passenger volume in fiscal year 2015," the broker said.
    Concerns about Indonesia's possible restriction of foreign
ownership of plantations hit planters with landbanks in the
Southeast Asian country, sending shares of Malaysia-listed IOI
Corporation to their lowest since March 10.
    Shares of Malaysia's Kuala Lumpur Kepong lost
almost 3 percent and Singapore-listed Wilmar International
 fell to its lowest since May 9. 
    "This attempt to cap foreign ownership will potentially
dampen sentiment already hit by weak CPO prices," said a Daiwa
Capital Markets report.
    In Singapore, banking shares such as DBS Group Holdings
 and Oversea-Chinese Banking Corporation, led
gainers amid optimism about a plan to allow Singapore banks to
issue covered bonds (CBs). 
    "In our view, CBs are a low-cost and stable funding
alternative for Singapore banks, coming at a time of tightening
local liquidity," broker Maybank Kim Eng said in a report.
    Stocks in Indonesia extended losses from Friday.
Shares of auto firm Astra International slid as
investors weighed in the risk of possible changes in the
government's fuel subsidy policy. 
    Vietnam's benchmark VN Index climbed 1.03 percent
amid technical-led buying. The Philippine stock market is shut
for a public holiday, and will reopen on Tuesday.
   
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0531 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   445.23        445.92       -0.16
 Singapore          3339.88       3325.50       +0.43
 Kuala Lumpur       1860.74       1870.99       -0.55
 Bangkok            1563.03       1556.97       +0.39
 Jakarta            5182.13       5198.89       -0.32
 Ho Chi Minh         626.53        620.14       +1.03
 * 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 Viparat Jantraprap; Additional reporting by
Fransiska Nangoy in JAKARTA Editing by Sunil Nair)