SE Asia Stocks-Indonesia rebounds; commodities lead regional gains
BANGKOK, June 26 (Reuters) - Stocks in Indonesia rose on Thursday as large cap banks recovered from recent losses, while shares of energy and palm plantation firms outperformed in Southeast Asia in line with strong crude and palm oil prices. Jakarta's composite index closed up 0.7 percent, rebounding from around seven-week closing low hit on Wednesday. Shares of Bank Central Asia gained 2.8 percent and Bank Mandiri was up 1 percent. Both fell on Wednesday. The market witnessed a net foreign outflow worth of 39.3 billion rupiah ($3.3 million) after Wednesday's net outflow worth 165 billion rupiah ($13.99 million), Thomson Reuters data showed. Near term uncertainty related to the presidential election on July 9 weighed on Indonesian assets. The rupiah fell to its weakest in four-and-a-half months on Thursday. Gains in the region included shares of Thailand's energy explorer PTT Exploration and Production, Indonesia's palm plantation firm Astra Agro Lesta and Malaysia's newly-listed palm oil company Boustead Plantations. Brent crude oil held steady near $114 a barrel on Thursday, with traders watching developments in Iraq for the possibility of export disruption from OPEC's second-largest producer while Malaysian palm oil futures stretched gains into a fourth day. Foreign fund flows were mixed in the region, according to Thomson Reuters and stock exchange data. Malaysia noted a modest outflow worth a net 15.75 million ringgit ($4.9 million), Thailand recorded a net outflow worth 49 million baht ($1.5 million) and the Philippines brought in a net inflow worth 123.7 million peso ($2.8 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* 425.98 423.69 +0.54 Singapore 3278.57 3261.54 +0.52 Kuala Lumpur 1889.97 1889.55 +0.02 Bangkok 1477.48 1468.49 +0.61 Jakarta 4872.42 4838.98 +0.69 Manila 6892.18 6834.68 +0.84 Ho Chi Minh 576.40 572.27 +0.72 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 425.98 388.37 +9.68 Singapore 3278.57 3167.43 +3.51 Kuala Lumpur 1889.97 1866.96 +1.23 Bangkok 1477.48 1298.71 +13.77 Jakarta 4872.42 4274.18 +14.00 Manila 6892.18 5889.83 +17.02 Ho Chi Minh 576.40 504.63 +14.22 * 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 = 11790.0000 Rupiah) ($1 = 43.8600 Philippine Pesos) ($1 = 32.3500 Thai Baht) (Reporting by Viparat Jantraprap; Editing by Anand Basu)
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