SE Asia Stocks-Thai index up on domestic fund buying
BANGKOK, April 3 (Reuters) - Thai shares rose for a fifth day on Friday, helped by selective buying by domestic funds and optimism about corporate earnings in the first quarter, while stocks in Malaysia trimmed earlier gains after February trade data came weaker than expected. Thai SET index was up 0.12 percent, on course for a 2.6 percent advance on the week, its first in seven weeks. Select large caps and dividend yielding stocks were among actively traded by turnover, including Intouch Holdings Pcl and Krung Thai Bank Pcl. Broker Phillip Securities said buying interests from long only trigger funds in equities is likely to continue, with trading seen subdued ahead of a three-day weekend. The Thai bourse will be closed on Monday for a public holiday. "As Thailand's holiday is approaching, foreigners will slow investment," it said in a report. Maybank Kim Eng Securities advised accumulating selective stocks likely to post impressive first quarter earnings growth. Banks will kick start a coming reporting season, with January-March earnings due out late in the month. Malaysia's main index edged up 0.09 percent to 1,833.67, after hitting 1,836.82, the highest since Nov. 27. It is set to post a weekly increase of 1.1 percent, a third straight week of gain. Data showed Malaysia's exports fell 9.7 percent in February from a year earlier due to a continued slump in oil prices and a weakening Chinese economy. Vietnam edged up 0.3 percent, further recovering from a three-month low hit on Wednesday and poised for a weekly fall of 0.7 percent. Singapore and Indonesia were closed for a public holiday on Friday, while the Philippines was still shut for a second day, all resuming trade on Monday. Asian stocks edged up as investors awaited key U.S. employment figures for clues on when the Federal Reserve will hike interest rates. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0609 GMT Market Current Prev Close Pct Move Kuala Lumpur 1833.67 1831.97 +0.09 Bangkok 1537.09 1532.23 +0.12 Ho Chi Minh 548.40 546.85 +0.28 (Reporting by Viparat Jantraprap; Editing by Anand Basu)
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