SE Asia Stocks -Thai index rebounds on cabinet reshuffle expectations
BANGKOK, July 23 (Reuters) - Most Southeast Asian stock markets rose on Thursday, with recently beaten-down Thai shares eking out small gains while Singapore's benchmark recovering from a near one-week low on the previous day ahead of inflation data for June. Thai SET index was up 0.3 percent after a mild rebound on Wednesday that ended six successive days of losses. Energy and bank shares led the rebound, with PTT rising 0.6 percent and Bangkok Bank gaining 0.3 percent. Retail investors had been net buyers over the past trading days amid media reports of looming cabinet reshuffle while foreign investors unloaded Thai shares for a third straight session on Wednesday. Prime Minister Prayuth Chan-ocha said on Wednesday changes to the cabinet lineup will depend on the performance of cabinet members, The Bangkok Post reported. Finance Minister Sommai Phasee denied reports in local media that he had resigned. (bit.ly/1HSVuH5) "The cabinet reshuffle is a hot topic. If the cabinet really is reshuffled, we believe it will help boost investor confidence. The reshuffle will also allow pending plans to progress," said broker Maybank Kim Eng Securities in a report. Singapore's key Straits Times Index was up 0.3 percent after Wednesday's second straight fall to a near one-week low. Singapore Telecommunications, the most actively traded by turnover, rose 0.9 percent. The June inflation figures would provide indications over Singapore's central bank's policy stance, brokers said. A Reuters poll showed Singapore's consumer price index probably fell for the eighth straight month in June. Indexes of Malaysia, Indonesia and the Philppines were nearly flat as Asian shares dipped on Thursday following Wall Street's decline overnight and lacklustre regional data. Vietnam's benchmark rose 0.4 percent after a 2.2 percent jump on Wednesday. For Asian Companies, click: SOUTHEAST ASIAN STOCK MARKETS Change at 0427 GMT Market Current Prev Close Pct Move Singapore 3370.43 3359.17 +0.34 Kuala Lumpur 1729.14 1729.53 -0.02 Bangkok 1452.39 1447.84 +0.31 Jakarta 4907.28 4906.69 +0.01 Manila 7631.67 7635.62 -0.05 Ho Chi Minh 632.13 629.85 +0.36 (Reporting by Viparat Jantraprap; Editing by Gopakumar Warrier)
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