SE Asia Stocks-Thai index near 7-week high; Metrobank shares drag Philippine
BANGKOK, Jan 22 (Reuters) - Thai key index hit a near seven-week high on Thursday, buoyed by late buying and short covering in energy shares, while other Southeast Asian stock markets mostly extended their gains amid selective buying as listed firms release earnings. The SET index climbed 1.5 percent to 1,575.55, the highest close since Dec. 8, as investors covered their short positions in beaten-down large cap energy stocks such as PTT and PTT Exploration and Production. Stocks in Singapore and Indonesia rose for a fourth day, while Malaysia posted a second straight gain and Vietnam rebounded from Wednesday's fall. Asian shares held near eight-week highs and European shares were at a seven-year high as the European Central Bank prepared to take the plunge into full-scale quantitative easing. In Kuala Lumpur, shares of Tenaga Nasional Bhd ended up 0.14 percent before the country's largest power firm reported a net profit rise for the first quarter ended November mainly on higher charges and sales of electricity. Bucking the trend, the Philippine main index retreated, led down by a 2.9 percent drop in shares of Metropolitan Bank & Trust Co. The bank said it was seeking to raise up to 32 billion pesos ($721 million) through a rights offer. 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 Singapore 3370.29 3354.46 +0.47 Kuala Lumpur 1781.75 1770.09 +0.66 Bangkok 1560.34 1537.36 +1.49 Jakarta 5253.18 5215.27 +0.73 Manila 7416.31 7474.10 -0.77 Ho Chi Minh 574.54 569.12 +0.95 Change on year Market Current End 2014 Pct Move Singapore 3370.29 3365.15 +0.15 Kuala Lumpur 1781.75 1761.25 +1.16 Bangkok 1560.34 1497.67 +4.18 Jakarta 5253.18 5226.95 +0.50 Manila 7416.31 7230.57 +2.57 Ho Chi Minh 574.54 545.63 +5.30 ($1 = 44.2180 Philippine pesos) (Reporting by Viparat Jantraprap; Editing by Anand Basu)
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