SE Asia Stocks - Mostly up; China PMI boosts region

lunes 23 de junio de 2014 03:00 GYT

June 23 (Reuters) - Most Southeast Asian stock markets edged
up on Monday aided by upbeat news from China's factory sector
and fresh highs on Wall Street, boosting investor appetite for
riskier assets. 
    Activity in China's factory sector expanded in June for the
first time in six months as new orders surged, a preliminary
HSBC survey showed on Monday, offering new signs the economy is
stabilising thanks to Beijing's measures to shore up growth.
    In Bangkok, trading volume was fairly moderate, while
profit-taking was seen from time to time, said Teerada
Charnyingyong, a strategist at broker Phillip Securities. 
    "The SET index advanced along with regional bullish
sentiment on better-than-expected China HSBC PMI for June. Banks
put pressure on the market as most of them reported loan growth
drop in May," she said. 
    Charnyingyong expects the index to trade sideways for a
while, awaiting fresh market moving news, particularly the
progress of infrastructure projects, political and energy
    Energy shares helped the Thai index gain on hopes that oil
prices are likely to hold at current levels due to ongoing
fighting in Iraq amid escalating violence. 
    In Jakarta, Indonesian coal miner PT Bumi Resources Tbk
 plunged to a 11-year low after its failure to gain
approval from bondholders to change the terms of $375 million
worth of bonds due Aug. 5 sparked fears of a potential default.
    Malaysia, bucking the trend, traded 0.1 percent down at 0642
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 Change at 0642 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   424.78        423.80       +0.24
 Singapore          3260.23       3258.80       +0.05
 Kuala Lumpur       1883.26       1885.72       -0.13
 Bangkok            1470.30       1467.29       +0.21
 Jakarta            4853.51       4847.70       +0.12
 Manila             6759.89       6730.96       +0.41
 Ho Chi Minh         564.71        560.78       +0.70
 * 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 Shihar Aneez; Editing by Sunil Nair)