SE Asia Stocks - Indonesia at record close; palm oil stocks rally
BANGKOK, Feb 6 (Reuters) - Indonesia's index closed at a record high on Friday as the government's proposal to increase biodiesel subsidies lifted shares of palm oil firms, while the Philippines hit a record close for a ninth time in the new year amid earnings plays. Jakarta's composite index climbed 1.2 percent to 5,342.51, surpassing the record close of 5,323.88 hit on Jan. 23. It rose 1 percent on the week. Palm oil producers led the gainers, with Astra Agro Lestari surging 8 percent, while Sampoerna Agro and London Sumatra each rising almost 5 percent. The Indonesian government's proposal to ramp up biodiesel subsidies overcame its final parliamentary hurdle on Friday, an energy ministry official said, noting that the subsidy increase could take effect next month. The Philippine index gained 0.7 percent to 7,728.18, topping the previous record close of 7,716.06 on Feb. 4. It rose 0.5 percent on the week, the seventh straight week of gains. Universal Robina Corp jumped 3.4 percent after its quarterly net income grew 13 percent and on foreign buying, stock exchange data showed. Most major markets recovered from last week's losses, with the Thai index posting a weekly gain of 2.1 percent, Malaysia up 1.8 percent and Singapore 1.2 percent higher. Vietnam's benchmark VN Index rose 1.23 percent, with banks outperforming amid foreign investor-led buying. It posted a weekly loss of 0.3 percent, a second week of declines. 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 3431.36 3406.58 +0.73 Kuala Lumpur 1813.25 1803.21 +0.56 Bangkok 1613.63 1607.92 +0.36 Jakarta 5342.51 5279.89 +1.19 Manila 7728.18 7674.24 +0.70 Ho Chi Minh 574.13 567.17 +1.23 Change on year Market Current End 2014 Pct Move Singapore 3431.36 3365.15 +1.97 Kuala Lumpur 1813.25 1761.25 +2.95 Bangkok 1613.63 1497.67 +7.74 Jakarta 5342.51 5226.95 +2.21 Manila 7728.18 7230.57 +6.88 Ho Chi Minh 574.13 545.63 +5.22 (Reporting by Viparat Jantraprap; Editing by Prateek Chatterjee)
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