SE Asia Stocks-Philippine shares retreat; Thailand rebounds
HANOI, Aug 15 (Reuters) - Southeast Asian shares were in mixed trade on Friday, with the Philippine index retreating from a 14-month closing high in the previous session, while Thailand rebounded with help from good earnings by one of its top construction firms. The Philippine SE Composite Index dropped 0.74 percent as investors took profits and sold after disappointing earnings from some big companies. Conglomerate LT Group fell 3.26 percent after reporting a first-half net profit of 2.16 billion pesos ($49.5 million), less than a third of the value from the previous year. Real estate firm Alliance Global Group Inc dropped 3.35 percent on investors' expectations of unimpressive earnings, due on Monday. Thailand's SET Index recovered to close up 0.3 percent, led by an 8.72 percent surge in shares of Land and Houses Pcl, their highest in a month. The company's second-quarter net profit jumped 20 percent to 2 billion baht ($62.8 million), it said in a filing to the exchange late on Thursday. Singapore stocks also ticked up, with property firm Hongkong Land gaining 3.35 percent and Jardine Matheson Holdings up 2.83 percent. Other markets moved in tight ranges. Malaysia edged up 0.15 percent, while Indonesia extended Thursday's fall to dip 0.13 percent on news of its current account swinging to deficit in the second quarter from a January-March surplus. Vietnam's benchmark VN Index eased 0.17 percent, with PetroVietNam Gas, the country's biggest firm by market value, preventing a stronger fall on the index with news of an 11 percent increase in second-quarter net profit. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at close Market Current Prev Close Pct Move TR SE Asia Index* 444.35 443.46 +0.20 Singapore 3314.77 3294.83 +0.61 Kuala Lumpur 1864.31 1861.58 +0.15 Bangkok 1546.62 1541.97 +0.30 Jakarta 5148.96 5155.55 -0.13 Manila 7008.51 7061.00 -0.74 Ho Chi Minh 604.24 605.25 -0.17 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 444.35 388.37 +14.41 Singapore 3314.77 3167.43 +4.65 Kuala Lumpur 1864.31 1866.96 -0.14 Bangkok 1546.62 1298.71 +19.09 Jakarta 5148.96 4274.18 +20.47 Manila 7008.51 5889.83 +18.99 Ho Chi Minh 604.24 504.63 +19.74 * 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=43.6550 Philippine peso) ($1=31.8400 Thai baht) (Reporting by Mai Nguyen; Editing by Martin Petty and Prateek Chatterjee)
© Thomson Reuters 2017 All rights reserved.