SE Asia Stocks-Thai index up on domestic funds, airline shares
BANGKOK, April 1 (Reuters) - Thai stock index rose for a third successive day on Wednesday, led by a recovery in airline shares and bargain hunting by domestic funds, while the Philippine benchmark hit a record closing high for a fifth day in a row ahead of market holidays. Bangkok's SET index was up 1.30 percent, taking its gain since Monday to about 2 percent. Among outperformers, national carrier Thai Airways International surged 11 percent after Japan's civil aviation agency lifted a charter flight ban for Thai-registered airliners during April and May to help ease the impact on passengers. Domestic institutions bought shares worth a net 2.4 billion baht ($73.8 million), a third straight day of net purchases while foreign investors were net sellers worth 2.2 billion baht, their first selling in three days, stock exchange data showed. Buying inflows this week were from domestic long only "trigger funds", brokers said. Trigger funds, a type of mutual fund, automatically redeem after hitting their performance target. The Philippine main index rose 0.7 percent to 7,993.09, above the previous record close of 7,940.49 hit on Tuesday. The market will be closed on Thursday and Friday for a public holiday. Among weak spots, Jakarta composite index ended the day down 0.9 percent, its first fall in four trading days. Profit taking hit rallying shares such as Astra International and Bank Rakyat Indonesia. "Share prices in Jakarta are normalising after a quarterly window dressing yesterday," said a Jakarata-based equities trader. 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 3447.02 3447.01 0.00 Kuala Lumpur 1826.31 1830.78 -0.24 Bangkok 1525.58 1505.94 +1.30 Jakarta 5466.87 5518.67 -0.94 Manila 7993.09 7940.49 +0.66 Ho Chi Minh 538.91 551.13 -2.22 Change on year Market Current End 2014 Pct Move Singapore 3447.02 3365.15 +2.43 Kuala Lumpur 1826.31 1761.25 +3.69 Bangkok 1525.58 1497.67 +1.86 Jakarta 5466.87 5226.95 +4.59 Manila 7993.09 7230.57 +10.55 Ho Chi Minh 538.91 545.63 -1.23 ($1 = 32.5200 baht) (Reporting by Viparat Jantraprap; Additional reporting by Fransiska Nangoy in Jakarta and Erik dela Cruz in Manila; Editing by Anand Basu)
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