SE Asia Stocks-Philippine at record high; oversold Thai shares rebound

lunes 30 de marzo de 2015 01:46 GYT
 

BANGKOK, March 30 (Reuters) - Most Southeast Asian stock
markets rose on Monday as inflows from end-quarter portfolios
boosted select large caps, with the Philippine index rising to a
record high and oversold Thai shares rebounding from recent
losses.
    Asian stock markets were subdued in a week book-ended with
Easter holidays across the globe and a U.S. jobs report that
could affect the timing of the first hike in interest rates
there. 
    The Philippine main index rose 1.6 percent to a
record high of 8,001.88. It had closed at 7,877.96 on Friday,
marking a second successive day of record closing high after the
central bank left key policy rates steady as expected.
 
    In Bangkok, the SET index perked up 0.3 percent, its
first gain in seven sessions. Its 14-day Relative Strength Index
(RSI) rebounded to 31.7 from Friday's close of 29.7. A level of
30 or lower indicates the market is oversold.
    Fund managers bought battered Thai shares, while investors
monitored economic data for clues on domestic interest rates.
    "Thai February economic data is set to determine if further
MPC cut is warranted," strategists at broker KGI Securities
wrote in a report.
    "SET consolidation is likely, with downside limited by
strong buying from local funds for their so-called trigger funds
and window dressing for the first quarter."
    Data released early on Monday showed Thai factory output in
February unexpectedly rose for the first time in nearly two
years. 
    The Jakarta composite index climbed 0.9 percent to
5,447.45. Broker Nomura said valuation expansion and strong 2016
earnings should take the index to 6,100 by end-2015.
 
    Singapore's Straits Times Index was nearly flat at
3,452.56. Broker NRA Capital said in a report that market
sentiment would remain tentative and cautious ahead of the
first-quarter results season to start in less than two weeks.
    Among regional top gainers, the Philippines' biggest firm by
value, SM Investments Corp, jumped 3 percent, Thailand's
top telecoms firm, Advanced Info Service, gained 1.7
percent and Indonesia's Astra International rose 2.7
percent.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0522MT
 Market             Current     Prev Close    Pct Move
 Singapore          3452.56       3450.10       +0.07
 Kuala Lumpur       1822.83       1813.37       +0.52
 Bangkok            1499.50       1495.22       +0.29
 Jakarta            5447.45       5396.85       +0.94
 Manila             8001.88       7877.96       +1.57
 Ho Chi Minh         550.35        551.42       -0.19
 
 (Reporting by Viparat Jantraprap; Additional reporting by Karen
Lema in Manila and Aradhana Aravindan in Singapore; Editing by
Subhranshu Sahu)