SE Asia Stocks-Most gain; Jakarta near 14-mth high ahead of voting results
July 21 (Reuters) - Most Southeast Asian stock markets rose on Monday on expectations of better earnings after upbeat U.S. corporate results helped boost sentiment in the region, while Indonesian shares ended near a 14-month high close ahead of the outcome of the presidential election. The Jakarta Composite Index closed 0.8 percent firmer, its highest close since May 30, 2013. The gains were led by shares of real estates companies and banks. Foreign investors sold $1.97 million in shares. But analysts said most of the foreigners were on the buying side ahead of the election results as local investors are shifting to deposits, which give a return of about 11 percent. Analysts said the market sees Jakarta Governor Joko "Jokowi" Widodo, likely to be the next president, as a reform-minded candidate who would cut red tape, leading to better productivity and an improved business environment. The Elections Commission will announce the results of the vote on Tuesday. Thai shares also finished at their highest close in more than a year, helped by $17.49 million foreign inflows on expectations of a pickup in economic growth, strong earnings from banks, and hopes of a temporary constitution before end-July. Thailand's second-largest lender Krung Thai Bank Pcl reported a 15.7 percent rise in second-quarter net profit, falling short of forecasts despite increasing its loans business and non-interest income. Its shares fell 3 percent. Bank of Ayudhya, which reported a 14 percent gain in June quarter profit, rose 0.5 percent. Vietnam gained 0.8 percent to a more than three-month high, while Singapore edged up 0.1 percent to its highest since May 30, 2013. Malaysia, which saw foreign outflows of $41.82 million on Monday, bucked the trend and fell 0.2 percent. 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* 443.47 440.81 +0.60 Singapore 3314.27 3310.53 +0.11 Kuala Lumpur 1868.64 1872.97 -0.23 Bangkok 1538.55 1533.41 +0.34 Jakarta 5127.12 5087.01 +0.79 Manila 6874.88 6853.07 +0.32 Ho Chi Minh 601.04 596.26 +0.80 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 443.42 388.37 +14.17 Singapore 3314.27 3167.43 +4.64 Kuala Lumpur 1868.64 1866.96 +0.09 Bangkok 1538.55 1298.71 +18.47 Jakarta 5127.12 4274.18 +19.96 Manila 6874.88 5889.83 +16.72 Ho Chi Minh 601.04 504.63 +19.11 * 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 = 11567.0000 Rupiahs) ($1 = 3.1715 Malaysian Ringgits) ($1 = 31.9100 Thai Baht) (Reporting by Shihar Aneez in Colombo)
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