SE Asia Stocks -Thai index at 16-month high on growth hopes; others mixed

jueves 25 de septiembre de 2014 03:04 GYT

Sept 25 (Reuters) - Thai stocks rose to their highest in 16
months on Thursday as the country's economic growth prospects
and foreign buying boosted sentiment while other Southeast Asian
markets traded mixed.
    Some markets were upbeat over Wednesday's gains on Wall
Street on strong U.S. housing data and dovish statements from a
top Federal Reserve official, but investors were still cautious
and awaited U.S. jobless claims and durable goods numbers due
later in the day for cues. 
    By midday, Thailand's SET index was up 0.4 percent
at 1,597.94, its highest intraday level since May 30, 2013, led
by telecom and bank shares.
    "Investors are positive after strong forging buying on
Wednesday. Economic growth prospects seem to be good. We expect
buying to continue with the next resistance level at 1,600,"
said Teerada Charnyingyong, a strategist at broker Phillip
    Thailand's central bank will release revised economic
projections on Friday and the market expects it to keep the
country's 2014 GDP growth forecast under 2 percent and announce
a higher growth estimate for the next year. 
    Analysts said foreign interest has helped boost the market
after offshore investors bought a net $143.52 million worth of
Thai shares on Wednesday.
    Other Southeast Asian markets traded mixed. The Jakarta
Composite Index was up 0.4 percent ahead of a crucial
parliament vote on a local election law which analysts said
could be negative to the market if approved. 
    Malaysian shares were steady while Singapore
 and the Philippines were down 0.1 percent and
0.3 percent respectively. 
    Vietnam's benchmark VN Index was down 1.2 percent and
 dropped below the key 600-mark in the morning session, heading
for its ninth consecutive day of falls. Investors sold to cut
losses amid a continuous fall in shares. 
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 Change at 0641 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3290.11       3292.81       -0.08
 Kuala Lumpur       1840.56       1840.08       +0.03
 Bangkok            1597.94       1591.89       +0.38
 Jakarta            5191.33       5174.01       +0.33
 Manila             7330.17       7355.29       -0.34
 Ho Chi Minh         596.35        603.59       -1.20
 (Reporting by Shihar Aneez; Additional reporting by Kaweewit
Kaewjinda in Bangkok; Editing by Sunil Nair)