SE Asia Stocks-Most rebound; dividend-yielding stocks lift Thai index
BANGKOK, March 12 (Reuters) - Southeast Asian stock markets mostly gained on Thursday amid easing monetary policies in Asia, with Thai shares recovering from early losses as investors bought dividend-yielding stocks amid a low interest rate environment. The Thai key SET index closed up 0.03 percent, led by shares of telecoms group Intouch Holdings and Total Access Communication, both carrying a forward dividend yield of over 6 percent, Thomson Reuters data showed. Banking shares eased 0.3 percent as players weighed in the risk of lower interest rates on earnings of commercial banks. The central bank surprised the market with an interest rate cut on Wednesday to help revive the slowing local economy. Malaysia rebounded from a seven-week closing low while Indonesia, the Philippines and Vietnam all reversed the declines of Wednesday. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.8 percent after a surprise interest rate cut by South Korea's central bank on Thursday, joining Thailand and other countries in Asia. Bucking the trend, Singapore's index edged down 0.2 percent, erasing a small rise earlier in the day. Banking stocks were among actively traded, with DBS Group Holdings and United Overseas Bank both closing about 0.4 percent lower. 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 3373.60 3378.59 -0.15 Kuala Lumpur 1786.87 1778.16 +0.49 Bangkok 1544.34 1543.84 +0.03 Jakarta 5439.83 5419.57 +0.37 Manila 7839.82 7790.70 +0.63 Ho Chi Minh 588.53 586.54 +0.34 Change on year Market Current End 2014 Pct Move Singapore 3373.60 3365.15 +0.25 Kuala Lumpur 1786.87 1761.25 +1.45 Bangkok 1544.34 1497.67 +3.12 Jakarta 5439.83 5226.95 +4.07 Manila 7839.82 7230.57 +8.43 Ho Chi Minh 588.53 545.63 +7.86 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
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