SE Asia Stocks-Philippines at 5-mth high; Malaysia plantation stocks rebound

miércoles 2 de abril de 2014 03:26 GYT

BANGKOK, April 2 (Reuters) - Most Southeast Asian stocks
rose on Wednesday as strength in global markets boosted regional
large-caps, pushing the Philippine index to a five-month high
while palm plantation stocks rebounded in Malaysia on rising
palm oil prices.
    The Philippine index rose 1.2 percent to its highest
since Oct. 31. Shares of Ayala Land, the most actively
traded, jumped 3.3 percent to its highest since July.
    The Philippine stock market had rallied this week, thanks to
foreign fund inflows into the region. 
    In Kuala Lumpur, the index edged up 0.2 percent, the
first in three sessions. Plantation stocks, including PPB Group
 and Kuala Lumpur Kepong, recouped some of
their recent losses after Malaysian palm oil futures rose for
the first time this week. 
    In Bangkok, selective buying in banking shares such
as Kasikornbank and Bangkok Bank lifted the
key SET index by 0.4 percent at midday.
    "With U.S. and Europe closing strongly overnight and
regional markets trading higher this morning, bias looks overly
positive today," strategists at broker Krungsri Securities wrote
in a report.
    Investors could selectively buy shares, with the index
holding well above 1,380, technically pointing to upward
momentum of the broader market, they said.
    Jakarta's Composite Index was nearly flat as profit
taking hit shares of Telkom Indonesia. Shares of Bank
Mandiri extended gains amid optimism over an improving
economic outlook.
    In Singapore, Noble Group Ltd rose after China's
largest grain trader COFCO Corp agreed to buy a stake in its
    Vietnam's benchmark VN Index fell as buying by
foreign investors failed to curb the impact of selling.
    U.S. stocks rose for a third straight session on Tuesday
after positive data on factory activity while Asian share
markets added to their recent rally on Wednesday as investors
chose to accentuate the positive in a mixed bag of global
economic data.  
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 Change at 0631 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   414.04        412.46       +0.38
 Singapore          3198.78       3198.52       +0.01
 Kuala Lumpur       1852.06       1847.76       +0.23
 Bangkok            1393.62       1387.48       +0.44
 Jakarta            4879.30       4873.93       +0.11
 Manila             6589.47       6514.72       +1.15
 Ho Chi Minh         578.49        583.85       -0.92
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.

 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)