SE Asia Stocks - Mixed; Malaysia at 3-week high

martes 25 de noviembre de 2014 07:33 GYT
 

Nov 25 (Reuters) - Thailand stocks rose for a third straight
session on Tuesday while Malaysian stocks rose to their highest
in nearly three weeks on a government decision to abolish fuel
subsidies. 
    Other Southeast Asian stock markets ended mixed amid waning
optimism over China's rate cut.
    Thailand's SET index gained 0.4 percent to its
highest close since Sept. 26, led by a 2.32 percent gain in top
oil firm PTT ahead of a landmark meeting of the
Organization of Petroleum Exporting Countries (OPEC) in Vienna
on Thursday.
    Bangkok saw a net foreign inflow of $38.43 million on
Tuesday, while Jakarta saw net foreign buying of $32.06 million,
Thomson Reuters data showed. 
    The Malaysian index ended up 0.3 percent to its
highest close since Nov. 5, on hope that the government decision
to scrap subsidies for petrol and diesel from next week would
help boost the country's budget deficit. 
    Also, the IMF said it projected the budget deficit could
decline below 3 percent of GDP in 2015 with the fuel subsidy
removal. 
    Southeast Asian stocks were buoyed on Monday after the
People's Bank of China cut its benchmark interest rates for the
first time in more than two years on Friday to lower borrowing
costs and lift a cooling economy that is on track for its
slackest annual growth in 24 years. 
    "Rate cut of China was little bit optimistic, but it has now
been factored in," said Song Seng Wun, an economist with
Singapore-based CIMB. "But the focus is on whether there will be
a rebound in oil prices."
    Singapore's Straits Times Index rose 0.1 percent
while Vietnam's benchmark VN Index gained 0.6 percent on
bargain hunting, recovering from its lowest close in almost a
month hit in the previous session. 
           
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3344.99       3340.53       +0.13
 Kuala Lumpur       1838.56       1833.77       +0.26
 Bangkok            1596.80       1590.14       +0.42 
 Jakarta            5118.95       5141.76       -0.44
 Manila             7286.85       7325.13       -0.52
 Ho Chi Minh         585.91        582.53       +0.58
 
 Change on year
 Market             Current       End 2013    Pct Move
 Singapore          3344.99       3167.43       +5.61
 Kuala Lumpur       1838.56       1866.96       -1.52
 Bangkok            1596.80       1298.71      +22.95
 Jakarta            5118.95       4274.18      +19.76
 Manila             7286.85       5889.83      +23.72
 Ho Chi Minh         585.91        504.63      +16.11
 (1 US dollar = 32.8000 Thai baht)
(1 US dollar = 12,159.0000 rupiah)

 (Reporting by Shihar Aneez; Editing by Sunil Nair)