SE Asia Stocks-Up on inflows; Thai large-caps rally on block trades
BANGKOK, March 28 (Reuters) - Southeast Asian stock markets rose on Friday on hopes about stimulus in China and foreign inflows into the region, with the Thai benchmark climbing to a near-two-week high after late buying in large-caps. A bout of buying via block trades in index heavyweights such as Siam Commercial Bank, Advanced Info Service and PTT Exploration and Productions sent the SET index 1 percent higher to close at 1,368.90. Institutional investors were more active as part of their 'window dressing' activities but the market was keeping a watch on domestic political developments, said analyst Koraphat Vorachet at broker Nomura Pattanasin. "High stock valuations could limit room for more strong gains from this point. With the current political risk, the index could see technical-led selling around the 1,380 level," he said. Thai shares ended up 0.6 percent on the week, recouping most of their falls in the previous week. Singapore's Straits Times Index was among the outperformers in the region, ending 3.2 percent higher on the week, on buying in battered property shares such as Hongkong Land Holdings and City Developments. Malaysia reported a net foreign buying of 272 million ringgit ($82.64 million), Indonesia saw inflows worth a net 1.27 trillion rupiah ($111.30 million) and the Philippines posted 1.14 billion pesos ($25.3 million) of inflows, according to Thomson Reuters and stock exchange data. Asian markets gained on Friday, with MSCI's index of Asia-Pacific shares outside Japan up 0.8 percent helped by reports Beijing would fast-track infrastructure spending. China's Premier Li Keqiang sought to reassure jittery global investors that Beijing was ready to support the cooling economy, saying the government had the necessary policies in place and would push ahead with infrastructure investment. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 406.94 403.03 +0.97 Singapore 3172.17 3162.46 +0.31 Kuala Lumpur 1850.73 1846.87 +0.21 Bangkok 1368.90 1355.95 +0.96 Jakarta 4768.28 4723.06 +0.96 Manila 6359.62 6315.69 +0.70 Ho Chi Minh 594.29 590.14 +0.70 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 406.94 388.37 +4.78 Singapore 3172.17 3167.43 +0.15 Kuala Lumpur 1850.73 1866.96 -0.87 Bangkok 1368.90 1298.71 +5.40 Jakarta 4768.28 4274.18 +11.56 Manila 6359.62 5889.83 +7.98 Ho Chi Minh 594.29 504.63 +17.77 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. ($1 = 45.0300 Philippine peso) ($1 = 11447.5000 Indonesian rupiah) ($1 = 3.2915 Malaysian ringgit) (Reporting by Viparat Jantraprap; Editing by Sunil Nair)
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