SE Asia Stocks -Up on global economic growth hopes; Malaysia at record high
June 24 (Reuters) - Malaysian stocks rose to a record high on Tuesday tracking Asian markets, bolstered by encouraging manufacturing data from China, Japan, and the United States that pointed to a recovery in global economic growth. Other Southeast Asian stock indexes also gained after manufacturing surveys, leading indicators of output trends, showed factory activity in the U.S., China and Japan rose strongly in May. The Malaysian index gained 0.4 percent to an all-time high of 1,892.33 points, surpassing its previous record of 1,889.47 hit on May 19. Kuala Lumpur saw a net foreign inflow of $25.54 million. Thai shares, however, underperformed the region, falling 0.5 percent with foreign outflows of $6.25 million. Energy shares led the fall as oil eased from recent nine-month highs. Banks also contributed to the fall as most Thai lenders reported a drop in loan growth in May. In Jakarta, analysts said market players expected shares to fall on political uncertainty as Southeast Asia's largest economy goes in for presidential polls next month. "The market is quiet and uncertain following presidential debate and the gap between the two candidates is very close based on several surveys," said John Teja, director of Jakarta-based broker Ciptadana Securities. "I think the market will pull back down in the short term on rupiah weakness, higher oil prices and tight presidential race." Shares of PT Bumi Resources Tbk surged nearly 21.4 percent after a sharp sell-off the previous day that saw it hitting a 11-year low, on concerns about the coal miner's ability to repay debt. In Singapore, commodities trader Olam International Ltd , ended 0.41 percent firmer after it said it had sold an 80 percent stake in its Australian grains business to Japan's Mitsubishi Corp for $64 million. 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* 424.72 423.97 +0.18 Singapore 3262.03 3257.40 +0.14 Kuala Lumpur 1892.33 1883.96 +0.44 Bangkok 1460.92 1468.70 -0.53 Jakarta 4862.24 4842.13 +0.42 Manila 6793.07 6761.99 +0.46 Ho Chi Minh 569.74 565.92 +0.68 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 424.72 388.37 +9.36 Singapore 3262.03 3167.43 +2.99 Kuala Lumpur 1892.33 1866.96 +1.36 Bangkok 1460.92 1298.71 +12.49 Jakarta 4862.24 4274.18 +13.76 Manila 6793.07 5889.83 +15.34 Ho Chi Minh 569.74 504.63 +12.90 * 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 = 3.2170 Malaysian ringgit) ($1 = 32.3500 Thai baht) ($1 = 11790.0000 rupiah) (Reporting by Shihar Aneez in Colombo; Editing by Sunil Nair)
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