SE Asia Stocks -Philippine shares set to lead January gains

viernes 30 de enero de 2015 02:59 GYT

BANGKOK, Jan 30 (Reuters) - Most Southeast Asian stock
markets edged higher on Friday, with the Philippine index
heading for its biggest monthly gain in almost a year but the
Thai benchmark slipped into negative territory amid selling in
the low free float Bank of Ayudhya (BAY) shares.
    Asian shares edged up on Friday, taking heart from a late
earnings-led surge on Wall Street even as continuing concerns
about global growth tempered gains while oil prices dipped as
analysts said the outlook remained weak.  
    The Philippine index was up 0.8 percent, recovering
from a fall on the previous day. It is heading for a gain of 6.2
percent in January, the biggest since February 2014 and is the
best performer in the region thanks to its strong economic
    Energy shares rebounded, led by Petron Corp and
Energy Development Corp.
    The Thai SET index eased 0.1 percent to 1,584.96,
trimming some early losses, with Bank of Ayudhya shares falling
1 percent. BAY shares have risen by more than half so far in the
month, bringing SET's gain to 5.8 percent, among Asia's
    Broker Maybank Kim Eng Securities said in a report the SET
index could break 1,600, depending on movement in Bank of
Ayudhya shares. Broker Phillip Securities expected SET to trade
in a range of 1,575-1,600, citing BAY shares among market risks.
    "The continued effects of extreme volatility in BAY shares
may keep the downside risk in the Thai stock market intact while
the pace of foreign buying dissipated for the first time on
Thursday," strategists at Phillip wrote in a report.
    The Thai bourse reported net foreign buying of shares worth
755 million baht ($23 million) on Thursday, compared with a
daily net purchase of more than 3 billion baht ($91.80 million)
in the previous two days. 
    Stocks in Singapore and Malaysia were a tad
higher, with Indonesia up 0.5 percent. Vietnam 
bucked the trend, sliding 1.5 percent. 
    "Today's sentiment should be slightly improved given Wall
Street's overnight turnaround but investors would be more
cautious of the recent volatility which would likely cap
upside," broker NRA Capital said of the Singapore stock market.
    All Southeast Asian stock markets are heading for gains in
January, with Vietnam climbing 5.8 percent while
Singapore, Malaysia and Indonesia each more than 1 percent
    The Malaysian stock market will be closed on Monday and
Tuesday for public holidays.
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 Change at 0604 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3425.32       3419.05       +0.18
 Kuala Lumpur       1784.16       1782.18       +0.11
 Bangkok            1584.96       1586.40       -0.09
 Jakarta            5288.39       5262.72       +0.49
 Manila             7680.67       7617.30       +0.83
 Ho Chi Minh         574.62        583.28       -1.48
 ($1 = 32.6800 baht)

 (Reporting by Viparat Jantraprap; Additional reporting by
Yantoultra Ngui in Kuala Lumpur; Editing by Anupama Dwivedi)