SE Asia Stocks -Thai index near 1,600; eyes on cbank for rate decision

martes 27 de enero de 2015 03:13 GYT
 

BANGKOK, Jan 27 (Reuters) - Most Southeast Asian stock
markets rose on Tuesday, with the benchmark Thai index rising to
near the key 1,600 level after data showed better-than-expected
exports in December and as investors looked forward to the
central bank's interest rate review on Wednesday.
    Major markets, led by Singapore, recovered from
Monday's declines as Asian shares moved higher and the euro
clung to rare gains, relieved that European markets had
weathered Greece's election outcome without much disruption.
 
    Bangkok's SET index was up 0.6 percent at 1,597.86
after volatile trading in the early hours, partly due to
speculative trading in shares of the large cap Bank of Ayudhya
(BAY). 
    Every baht of change in BAY shares would lead to a 0.7-0.8
point change in the SET index, strategists at broker Phillip
Securities wrote in a report.
    Export data will come under scrutiny while market focus will
shift to the Bank of Thailand Monetary Policy Committee's (MPC)
meeting on Wednesday amid hopes of a rate cut, the broker said.
    "However, we still believe the odds remain in favour of the
MPC staying put on interest rates at tomorrow's policy meeting."
    Sixteen of 20 economists in a Reuters poll predict the
one-day repurchase rate will be left at 2.0
percent. The other four expect a 25 basis points cut, citing
slow economic recovery and benign inflation. 
    Data showed Thailand's exports in December rose 1.9 percent
from a year earlier, well above the 0.5 percent gain seen in a
Reuters poll. For all of 2014, exports were 0.4 percent lower
than the previous year. 
    Bucking the trend, the Jakarta composite index edged
down 0.1 percent. It dropped 1.2 percent on Monday as investors
cashed in gains after the index rallied on Friday to a record
close of 5,323.89.
    Bank stocks traded mixed in the financial reporting season,
with shares of Bank Negara Indonesia up 1.2 percent
and Bank Danamon Indonesia down 0.6 percent ahead of
earnings releases expected this week, broker Trimegah Securities
said.

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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0618 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3420.23       3398.52       +0.64
 Kuala Lumpur       1797.21       1796.44       +0.04
 Bangkok            1597.86       1588.31       +0.60
 Jakarta            5253.90       5260.02       -0.12
 Manila             7624.30       7586.67       +0.50
 Ho Chi Minh         575.81        580.64       -0.83
 
 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)