SE Asia Stocks - Philippine at record high, outperforms on week
BANGKOK, April 10 (Reuters) - The Philippine main index hit a record closing high on Friday, posting its fourth consecutive weekly gains, while Thai shares retreated after ending higher in the previous session as investors cut risk holdings ahead of a long market holiday. Philippine composite index, which measures moves of 30 large caps, ended up 0.93 percent at 8,127.48, above the 8,098.68 record close hit on April 7. It was up 1.7 percent on the week, among Southeast Asia's outperformers. Investors built positions in large caps ahead of first-quarter results due out in coming weeks, said brokers in Manila. Ayala Land, Metropolitan Bank & Trust and SM Prime Holdings were actively traded. In Bangkok, shares moved in a tight range, with the key SET index ending 0.2 percent lower. Profit-taking hit banking shares, led by a 0.8 percent fall in Krung Thai Bank after a 1.3 percent rise on Thursday. The Thai stock market will be closed from April 13-15 to celebrate the country's new year while banks will kick off a quarterly reporting season from late next week. Broker Phillip Securities advised profit taking. "The region of 1,555 resistance level should be used as an opportunity to book profits to limit exposure ahead of the long Songkran holiday," it said in a note to clients. Southeast Asian stock markets are poised for small gains on the week partly due to cautions over the direction of interest rates in the United States, brokers said. Asian shares advanced close to recent highs on Friday and the dollar stood tall after news that Greece had made a 450 million euro loan payment to the International Monetary Fund trimmed safety bids for U.S. government debt. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0842 GMT Market Current Prev Close Pct Move Singapore 3468.49 3460.30 +0.24 Kuala Lumpur 1841.42 1849.39 -0.43 Bangkok 1543.89 1545.11 -0.08 Jakarta 5473.68 5500.90 -0.52 Manila 8127.48 8052.69 +0.93 Ho Chi Minh 554.03 550.52 +0.64 (Reporting by Viparat Jantraprap; Additional reporting by Neil Jerome Morales in Manila; Editing by Anand Basu)
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