SE Asia Stocks- Indonesia rises to 3-wk high; Singapore, Malaysia extend gains
BANGKOK, Dec 24 (Reuters) - Indonesian stocks hit a near 3-week closing high on Wednesday, while Singapore and Malaysia rose for a sixth successive session as increased risk appetite by investors boosted regional bourses after surprisingly robust U.S. economic growth data. Regional large caps such as Singapore Telecommunications and Malaysia's Malayan Banking led the gainers after revised data on Tuesday showed the U.S. economy grew at 5 percent in the third quarter, the quickest pace in 11 years. The Jakarta composite index ended 0.5 percent higher at 5,166.98, the highest close since Dec. 5, after Tuesday's modest rise. Vietnam gained 0.3 percent. Singapore's key Straits Times Index finished up 0.4 percent, building on the 3.7 percent gains seen over the past five days. The key Malaysian index firmed slightly, further recovering from a low of 1,673.94 hit on Dec. 16. Thai shares, however, fell for the second day, erasing midsession gains to close 0.4 percent lower amid late profit-taking in large caps such as Bangkok Bank which edged down 0.3 percent. "For short-term strategy, we see a good opportunity to accumulate big-cap stocks, such as Kasikornbank, Bangkok Bank ... to lock in gains on the year-end window dressing," strategists at broker Phillip Securities wrote in a report. Foreign investors bought Malaysian shares worth a net 47 million ringgit ($13.45 million) and Thai shares worth a net 118 million baht ($3.59 million), stock exchange data showed. Singapore and Malaysia will be closed for Christmas on Thursday. Indonesia will be shut on Thursday and Friday. The Philippine stock market is closed on Wednesday through Friday for the Christmas holidays, and will reopen on Monday. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3345.91 3332.51 +0.40 Kuala Lumpur 1749.74 1749.05 +0.04 Bangkok 1525.06 1531.17 -0.40 Jakarta 5166.98 5139.17 +0.54 Ho Chi Minh 539.44 537.88 +0.29 Change on year Market Current End 2013 Pct Move Singapore 3345.91 3167.43 +5.63 Kuala Lumpur 1749.74 1866.96 -6.28 Bangkok 1525.06 1298.71 +17.43 Jakarta 5166.98 4274.18 +20.89 Manila -- 5889.83 +22.01 Ho Chi Minh 539.44 504.63 +6.90 ($1 = 3.4950 ringgit) ($1 = 12,465.0000 rupiah) ($1 = 32.8700 baht) (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
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