SE Asia Stocks-Thai stocks up on low rates; others weak ahead of holidays

jueves 30 de abril de 2015 04:52 GYT

BANGKOK, April 30 (Reuters) - Thai stocks eked out small
gains on Thursday as investors piled into dividend yielding
stocks amid low interest rate environment, while other markets
in Southeast Asia fell ahead of market holidays and amid
weaknesses in other Asian markets.
    Thai key index traded up 0.4 percent while the SET
high dividend index which measures move of 30 dividend
yielding stocks gained 1 percent, led by refiner Thai Oil
 and condominium developer LPN Development.
    "The Bank of Thailand's surprise cut in its policy interest
rate by 0.25 percent to 1.5 percent yesterday may give a
short-term positive boost to market sentiment," strategists at
broker Phillip Securities said. 
    The Philippines' main index dropped 1.4 percent on
the day and was down about 3 percent on the week. Malaysia
 fell for a fourth day to the lowest in more than four
weeks while Singapore hit the lowest since April 10.
    Stocks in Indonesia was down 0.2 percent, on track
for a weekly decline of 6.3 percent, the worst performer in the
region, amid foreign selloffs and weak corporate earnings.
    The region is set to post a weekly loss, partly as investors
 awaited the direction of U.S. interest rates.
    The Federal Reserve downgraded its view of the U.S. labor
market and economy on Wednesday in a policy statement that
suggested the central bank may have to wait until at least the
third quarter to begin raising interest rates. 
    Asian stocks stumbled on Thursday while the euro held near
two-month highs against the dollar after surprisingly downbeat
first-quarter economic growth in the United States - a key
export destination for many of the region's economies.
    Singapore, Indonesia and the Philippines will be closed on
Friday for a public holiday, with Malaysia on Friday and Monday.
    Thai stock market will be shut from Friday through Tuesday
for public holidays. Vietnam remained closed through
Friday for national holidays. 
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 Change at 0831 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3472.41       3487.15       -0.42
 Kuala Lumpur       1820.41       1842.93       -1.22
 Bangkok            1529.00       1522.47       +0.43
 Jakarta            5096.00       5105.56       -0.19
 Manila             7714.82       7825.47       -1.41
 (Reporting by Viparat Jantraprap; Editing by Anand Basu)