SE Asia Stocks-Thailand recovers on strong GDP growth; Malaysia extends losses
May 16 (Reuters) - Thai shares bounced back from the previous session's losses to trade higher on Monday after quarterly GDP data and corporate earnings came broadly in line with market expectations, while other Southeast Asian stock markets were mixed. Thailand's main stock index was 0.2 percent higher at 0512 GMT, driven by energy & utilities and banking sectors, after the country's economy grew faster than expected in the first quarter, boosted by stronger government spending and tourism. "Stocks are trading at fair value and, therefore, we do not expect a high upside to today's trading," said an analyst with Phillip Securities (Thailand). Siam Cement Pcl rose 1.24 percent, PTT Pcl gained 2.3 percent and Siam Commercial Bank Pcl added 1.2 percent. Asian stocks eked out modest gains as buoyant Japanese equities helped offset some of the gloom from Chinese data. China's investment, factory output and retail sales all grew slower than expected in April, adding to doubts about whether the world's second-largest economy is stabilising. Meanwhile, Malaysian stocks extended losses, led by energy and basic materials sectors. Oilfield services provider SapuraKencana Petroleum was the biggest loser with a drop of 0.6 percent. Data released on Friday showed Malaysia's economy expanded 4.2 percent in January-March compared with a year earlier, its slowest growth for a quarter since 2009 as exports and domestic demand were weak. Vietnam shares were headed for their first gain in three sessions, with property shares and energy stocks leading the gains, after better-than-expected trade surplus data for April. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on day Market Current Previous Pct Move Close Singapore 2733.97 2734.91 -0.03 Bangkok 1397.95 1394.69 0.23 Manila 7499.44 7436.79 0.84 Jakarta 4733.116 4761.715 -0.60 Kuala Lumpur 1615.9 1628.26 -0.76 Ho Chi Minh 612.73 610.82 0.31 Change on year Market Current End 2015 Pct Move Singapore 2733.68 2882.73 -5.17 Bangkok 1398.14 1288.02 8.55 Manila 7499.44 6952.08 7.87 Jakarta 4733.116 4593.008 3.05 Kuala Lumpur 1615.9 1692.51 -4.53 Ho Chi Minh 612.73 579.03 5.82 (Reporting by Rushil Dutta in Bengaluru; Editing by Subhranshu Sahu)
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