SE Asia Stocks -Most higher; Philippine shares end 2014 with strong gains

lunes 29 de diciembre de 2014 04:30 GYT

BANGKOK, Dec 29 (Reuters) - Most Southeast Asian stock
markets edged higher on Monday as domestic institutions bought
large caps ahead of year-end but shares in Malaysia's AirAsia
 plunged after one of the company's aircraft went
missing on Sunday.
    Singapore's key Straits Times Index rose 0.3
percent to 3,364.64, extending gains made over the past seven
sessions, while the Indonesian key index added 0.2
percent, on track for a third straight rise.
    The Thai SET index slightly drifted into negative
territory at 1,509.25, after posting modest gains in the morning
    Broker Maybank Kim Eng Securities projected a trading range
of 1,495-1,520 for SET for the day.
    "A light trading volume will make the SET Index more
volatile. However, window dressing and LTF money will help
supporting today's SET Index," it said in a report.
    Long-term equity funds (LTF) are more popular towards the
end of the year as they receive favourable tax treatment.
    About 3.6 billion shares had changed hands on the Thai stock
market by midday, compared with a full day volume of 15 billion
shares on Friday, stock exchange data showed.
    In Kuala Lumpur, AirAsia shares fell 7.8 percent, their
biggest one-day drop in more than three years, after Sunday's
incident involving the airline's Indonesia unit. 
    The Bangkok-listed shares of Asia Aviation, the
holding company of Thai AirAsia, in which the AirAsia group
holds a 45 percent stake, were down 3.6 percent on Monday.
    Broker Asia Plus Securities rated Thai Asia Aviation shares
'buy' as it expected no financial impact due to Indonesia's
AirAsia incident.
    "The share weakness was due to an indirect impact in terms
of weak sentiment on Indonesia's AirAsia. We keep our earnings
forecast for Thai Asia Aviation," it said.
    The Philippine stock index rose 0.62 percent on its
last trading day for the year.
    It ended the year at a two-week high of 7,230.57, rising
22.8 percent in 2014, among the region's outperformers. That
compares with a modest 1.3 percent rise in 2013.
    The Philippine stock market will be closed from Dec.
30-Jan.2, reopening on Jan. 5.
    Among the actively-traded stocks in the region, shares of
Singapore DBS Group Holdings climbed 1.1 percent,
Thailand's Kasikornbank was up 0.4 percent and
Indonesia's Astra International gained 0.7 percent.
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 Change at 0736 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3364.64       3353.68       +0.33
 Kuala Lumpur       1765.76       1764.44       +0.07
 Bangkok            1509.25       1510.41       -0.08
 Jakarta            5174.78       5166.98       +0.15
 Manila             7230.57       7186.32       +0.62
 Ho Chi Minh         531.02        533.37       -0.44
 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)