SE Asia Stocks-Most up; Industrial estate shares lead Thai gains
BANGKOK, June 9 (Reuters) - Thai stocks rose on Monday as expectations of a boost to foreign direct investments lifted shares of industrial estate developers, while Indonesian banking stocks fell as investors awaited the central bank's monetary policy meeting later this week. Thailand's military government appointed a new 18-member executive for the Board of Investment to be headed by the leader of the National Council for Peace and Order and army chief General Prayuth Chan-ocha, the Nation newspaper reported. (link.reuters.com/vex89v) Analysts expect the new board's chief to expedite the approval process of investment projects. "He is likely to push for approval of investment applications delayed during the political deadlock," strategists of broker KGI Securities wrote in a report. Shares of the biggest industrial estate developer Amata Corp Pcl rose 3.1 percent, while other industrial estate developer Rojana Industrial Park Pcl jumped 4.5 percent to its highest since Oct. 21. The benchmark SET index was up 0.2 percent at 1,460.29 by midday, climbing at one point to 1,466.15, the highest in more than seven months. Jakarta's composite index eased 0.5 percent to a near one-week low, amid active selling in shares of Bank Rakyat Indonesia, Bank Central Asia and Bank Mandiri. Bank Indonesia is due to meet on June 12. The central bank left its key reference rate at 7.5 percent in the previous meeting on May 8, as widely expected. Other share markets in Southeast Asia mostly edged higher. Positive U.S. and China data pointed to global recovery, bolstering sentiment in Asia and supportive to foreign equity inflows to the region, analysts said. Vietnam's benchmark VN Index gained 1.3 percent, led by Petrovietnam Gas and several other blue chips. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0638 GMT Market Current Prev Close Pct Move TR SE Asia Index* 427.12 425.86 +0.29 Singapore 3302.08 3299.43 +0.08 Kuala Lumpur 1862.40 1862.70 -0.02 Bangkok 1460.29 1458.02 +0.16 Jakarta 4911.52 4937.18 -0.52 Manila 6791.31 6762.62 +0.42 Ho Chi Minh 567.72 559.04 +1.55 * 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 Anand Basu)
© Thomson Reuters 2017 All rights reserved.