SE Asia Stocks-Thai shares rebound; others range-bound amid mixed data
BANGKOK, Aug 29 (Reuters) - Thai shares rebounded on Friday, helped by short covering, while others in the region were range-bound amid a mixed-bag of economic data and caution about tensions in Ukraine. Thai SET index inched up 0.2 percent, with shares of telecommunications company True Corp rallying to their highest since June 2001 after the fall early in the week amid short selling, stock exchange data showed. "True Corp shares were among the top active short-selling list this week. The strong gain today could come from those investors who covered their short positions," said a trader at broker KT Zmico Securities. Energy shares edged slightly higher, recovering from a 1.2 percent drop on Thursday as investors weighed in the risk of the government's retail oil price restructuring, resulting in a reduction in gasoline prices. Shares of oil traders and petrol station operators were mixed, with stocks of PTT unchanged after a 2.7 percent drop on Thursday. Shares of Bangchak Petroleum Pcl jumped 2.2 percent and PTG Energy rose 2 percent. "Oil traders and petrol station operators may see losses/gains on petrol and gasohol inventories following the cuts while margin on diesel prices would be up due to lower-priced inventories," said energy analyst Ornmongkol Tantitanatorn of broker Phillip Securities. Data from Thailand's Industry Ministry early on Friday showed July factory output slid more than expected, another sign the economy is stuck in a rut even as the government stays upbeat on economic outlook. Thai central bank will announce July economic numbers later in the day. The Philippines fell for a second day after the country posted a budget deficit of 1.8 billion pesos ($41.2 million) in July, while Malaysia reversed Thursday's gain before money supply and banking indicators in July. Shares of Singapore's banks were mixed, with Oversea-Chinese Banking Corp up 0.2 percent and DBS Group Holdings down 0.1 percent, after total bank lending in Singapore was barely changed in July from June. Vietnam rose 0.3 percent amid busy trade in banking stocks while solid money inflows extended even with a two-day market holiday ahead. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0541 GMT Market Current Prev Close Pct Move TR SE Asia Index* 445.38 445.98 -0.13 Singapore 3327.45 3330.22 -0.08 Kuala Lumpur 1872.17 1875.68 -0.19 Bangkok 1561.20 1559.05 +0.14 Jakarta 5176.62 5184.48 -0.15 Manila 7072.27 7100.70 -0.45 Ho Chi Minh 633.93 632.03 +0.30 * 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; Editing by Anand Basu)
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