SE Asia Stocks-Most up; Philippine shares retreat on profit-taking

viernes 15 de agosto de 2014 03:43 GYT

HANOI, Aug 15 (Reuters) - Most Southeast Asian markets rose
on Friday though Philippines bucked the trend as investors took
profits after the index ended the previous session at its
highest in more than 14 months.
    The Philippine index dropped 0.77 percent to 7006.35,
retreating from Thursday's high. Shares of LT Group 
were down 2.79 percent at 0645 GMT after the Philippine
conglomerate said its first-half net profit fell 68.9 percent.
    "It was due to profit-taking and unimpressive earnings of
some companies," said Manny Cruz, a market strategist at Asiasec
    Alliance Global Group Inc lost 4.09 percent. Cruz
attributed the slump to expectations of weak earnings results
due on Monday.
    The stock hit its lowest intra-day level in seven months in
early trade, Reuters data showed.
    Singapore shares edged up 0.34 percent, led by gains in
industrial conglomerate Jardine Matheson Holdings, up
2.31 percent, and real estate firm Hongkong Land,
which rose 2.33 percent.
    Hongkong Land shares hit S$7.14 ($5.74) each, a more-than 14
month intra-day high.
    "The stock market is trending up thanks to a low interest
environment," said a Singapore-based trader.
    Indonesian shares fell for a second day after the
country's central bank on Thursday reported a
larger-than-expected second-quarter current account deficit,
against a surplus in the previous three months. 
    Malaysia, Thailand and Vietnam were
almost flat.
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 Change at 0642 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   443.49        443.46       +0.01
 Singapore          3306.03       3294.83       +0.34
 Kuala Lumpur       1861.70       1861.58       +0.01
 Bangkok            1542.86       1541.97       +0.06
 Jakarta            5144.73       5155.55       -0.21
 Manila             7006.35       7061.00       -0.77
 Ho Chi Minh         605.18        605.25       -0.01
* 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=1.2438 Singapore dollar)

 (Reporting by Mai Nguyen; Editing by Anupama Dwivedi)