SE Asia Stocks -Philippines near record high on lower inflation hopes

miércoles 4 de marzo de 2015 01:00 GYT

JAKARTA, March 4 (Reuters) - Southeast Asian stock markets
traded mixed on Wednesday with stocks in Manila rising on hopes
of easing inflation while Jakarta was down after touching a new
intraday record high on Tuesday. 
    The Philippines stock index rose 0.87 percent on
Wednesday, the biggest gain in a month. The index is nearing its
record high set last week. Property company Ayala Land Inc
 rose 3.54 percent. 
    The property sector led the gains in the Philippines on
expectation of lower inflation, said Astro del Castillo,
managing director of Manila-based investment house First Grade
Finance Inc. Philippines' February inflation data will be
announced on Thursday.
    "Interest rates will be flat for the rest of the year, which
is good for the property sector," he said.
    Meanwhile, Indonesian stocks fell 0.42 percent after
touching a new intraday record high on Tuesday at 5,499.77.
    "Indonesian stocks are overbought. Investors are cashing in
profits, taking advantage of the correction in Asian markets
ahead of U.S payroll data," said Andri Zakarias, an analyst with
BNI Securities in Jakarta.  
    Shares of Indonesia's state-controlled coal miner PT Bukit
Asam Tbk lost 1.4 percent on Wednesday, erasing some
of its 4.3 percent gain in the past three days after posting a
10 percent decline in 2014 profit on Wednesday.
    Singapore's stock index rose 0.1 percent, while
Malaysia and Vietnam were little changed. The
Thailand market is closed for a public holiday on
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 Change on 0447 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3426.31       3422.11       +0.12
 Kuala Lumpur       1822.28       1821.25       +0.06
 Bangkok              -           1582.14         -  
 Jakarta            5451.46       5474.62       -0.42
 Manila             7843.82       7776.51       +0.87
 Ho Chi Minh         596.67        596.72       -0.01

 (Reporting by Fransiska Nangoy; Additional reporting by Neil
Jerome Morales in MANILA; Editing by Biju Dwarakanath; Editing
by xxxx)