SE Asia Stocks-Rise; Thai index off high on Total Access earnings
BANGKOK, Feb 4 (Reuters) - Southeast Asian shares markets rose on Thursday as investors bought battered stocks amid a recovery in Asia and global oil prices, but weak earnings and a fall in January consumer confidence capped gains in Thai stocks. Bangkok's SET index was up 0.6 percent at 1.299.67, giving up some early gains. Shares of Total Access Communication plunged 8.5 percent, making them one of the top losers on the SET 50 index , after disappointing earnings and a dividend policy cut. Data released earlier in the day showed Thai consumer confidence fell in January after three months of gains due to weak economic prospects at home and abroad. The SET index is expected to move in a range of 1,285-1,300 on the day, Broker Maybank Kim Eng Securities said in a report. "The SET may be pressured by high profit-taking on Dtac after it reported worse-than-estimated 4Q15 earnings.... We believe local and foreign institutions will reduce investment weight in Dtac again," the broker said. Other key indexes reversed recent losses, led by Indonesia , the Philippines and Malaysia, each trading up more than 1 percent. Gains in Singapore were relatively modest ahead of the Lunar holidays in the region next week. In Hanoi, focus shifted to company earnings which helped send the key VN Index almost 1 percent higher. Vinamilk shares rose 1.7 percent after the dairy product maker posted a 28 percent jump in its 2015 net income. A more than eight percent jump in oil prices overnight lured buyers of Southeast Asia's energy and commodities shares again, led by Malaysia's Sapurakencana Petroleum and Philippine Petron Corp, both up more than 4 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0551 GMT Market Current Previous Close Pct Move Singapore 2557.11 2550.74 0.25 Bangkok 1299.67 1291.77 0.61 Manila 6616.04 6521.48 1.45 Jakarta 4659.687 4596.108 1.38 Kuala Lumpur 1654.95 1633.3 1.33 Ho Chi Minh 543.4 539.07 0.80 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
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