SE Asia Stocks-Most up; Thai index ekes out gains on govt stimulus

lunes 28 de diciembre de 2015 02:09 GYT

BANGKOK, Dec 28 (Reuters) - Most Southeast Asian stock
markets rose on Monday, with gains in select large caps sending
Malaysia's key stock index to a three-week high, while
consumer-related shares outperformed on the Thai index after
government measures to boost spending.
    The Kuala Lumpur composite index was up 0.6 percent
at 1,673.67, the highest since Dec. 7. Shares of oil and gas
firm Sapurakencana Petroleum surged 11 percent, the
biggest gainer on the index.
    Shares of shopping mall operator Central Pattana 
and hotel firm Central Plaza Hotel were strong in
Thailand, sending the key SET index 0.3 percent higher by
    The government announced tax incentive schemes last week in
a bid to boost domestic consumption in the last seven days of
this year. The tax break would shore up sentiment and confidence
in the near term, said broker Phillip Securities. 
    Buying from domestic institutions is expected to provide a
near-term lift to the broader market, countering slowing foreign
inflows ahead of New Year holidays.
    The SET index is expected to move in a narrow range of
1,280-1,290 on the day, broker Maybank Kim Eng Securities said.
    "Foreign investors should slow the investments while local
institutions will continue the investments during the window
dressing season," strategists of Maybank wrote in a report.
    Key indexes in Indonesia and Vietnam hovered
around their highest levels in more than one week, while
Singapore and the Philippines drifted into
negative territory as Asian stocks dipped amid a lack of
immediate directional cues in light year-end trade. 

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 Change at 0547 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2873.59       2877.62       -0.14
 Kuala Lumpur       1673.67       1663.51       +0.61
 Bangkok            1287.10       1282.93       +0.33
 Jakarta            4549.77       4522.65       +0.60
 Manila             6963.82       7002.42       -0.55
 Ho Chi Minh         570.36        567.67       +0.47
 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)