SE Asia Stocks - Most rebound; Thai index up as bank earnings in focus

martes 14 de octubre de 2014 01:50 GYT

BANGKOK, Oct 14 (Reuters) - Most Southeast Asian stock
markets rose on Tuesday, recovering from losses in the previous
session, with Singapore paring early gains after weak quarterly
economic data, while select Thai banks gained in a quarterly
earnings season.
    Singapore's Straits Times Index was up 0.2 percent
at 3,209.30, coming off an intraday high of 3,211.66.
    Losses in bank stocks led by DBS Group Holdings 
partly shaved off gains in large-caps, including developer
CapitaLand. Brokers said the rise in large-caps was
due to bargain hunting after Monday's falls.
    Data showed Singapore's gross domestic product in the third
quarter rose a weaker-than-expected 1.2 percent from the
previous quarter, while the city-state's central bank stuck to
its tight monetary policy as expected.
    The Thai key SET index edged higher, helped by
selective buying. Shares of Tisco Financial Group 
rose 1.8 percent after the company's July-September net profit
beat expectations.
    "The most positive aspect of its third quarter results was
the continued surge in its net interest margin (NIM), thanks to
a lower funding cost," broker CIMB Securities said in a report.
    Other Thai banks are due to report their quarterly results
by next week.
    Jakarta's composite index was up 0.2 percent amid
active buying in supermarket operator Matahari Putra Prima
 and Bank Mandiri. 
    Investors broadly braced for a potential fuel price hike,
brokers said. If the increase is 46 percent, or 3,000 rupiah per
litre, which is in line with market expectations, sharemarket
sentiment would be positive, Trimegah Securities said in a
report. If the hike is only 1,500 rupiah, or less, the market
may be weak, it said.
    "We think the big question for the next four weeks is fuel
price hike: will it happen and how much?," it
    Among the weak spots, Philippine shares eased 0.3
percent to their lowest since Aug. 11, extending Monday's fall
when worries about the global economic outlook led to foreign
outflows from the region. 
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 Change at 0457 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3209.30       3202.15       +0.22
 Kuala Lumpur       1798.21       1797.20       +0.06
 Bangkok            1548.16       1542.35       +0.38
 Jakarta            4923.14       4913.05       +0.21
 Manila             6950.52       6968.09       -0.25
 Ho Chi Minh         613.71        614.22       -0.08
 (Reporting by Viparat Jantraprap; Additional reporting by
Fransiska Nangoy in Jakarta; Editing by Prateek Chatterjee)