SE Asia Stocks-Most rebound with Asia; Q1 earnings lift shares
BANGKOK, May 8 (Reuters) - Most Southeast Asian stock markets rebounded on Friday in line with Asian shares while positive quarterly earnings lifted select shares such as Singapore's Wilmar International Ltd and Thailand's Siam Makro Pcl. Singapore's Straits Times Index was up 0.5 percent after four successive days of falls and heading for a weekly loss of 1.1 percent. Wilmar, which posted a net profit jump in the first quarter, climbed 1.3 percent. Thai SET index traded 0.4 percent higher, recovering from Thursday. It is on track for a 1.4 percent decline on the week, among regional underperformers. Siam Makro shares surged 4.3 percent after the cash-and-carry wholesaler posted a 21 percent growth in quarterly net profit. Concerns over a slowing domestic economy would prevent further market gains, broker KGI Securities said. "The strong catalyst for SET recovery remains mute as domestic slowdown prevails. Most traders are also staying on the sidelines ahead of U.S. April non-farm payrolls releasing today," KGI said in a report. Malaysia was up 0.4 percent, poised for a loss of 0.4 percent on the week, with large caps such as Maybank and Tenaga Nasional leading the market rebound. Malaysia's central bank kept the overnight policy rate at 3.25 percent in a meeting after market close on Thursday, saying that capital spending and domestic demand will support the economy. Stocks in Indonesia and the Philippines were among bright spots on the week, on course for a gain of 2.1 percent and 0.8 percent, respectively. Asian shares rebounded from one-month lows on Friday, helped by signs global bond markets are stabilising after a big selloff. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0509 GMT Market Current Prev Close Pct Move Singapore 3449.45 3432.78 +0.49 Kuala Lumpur 1811.62 1805.10 +0.36 Bangkok 1504.94 1498.31 +0.44 Jakarta 5192.50 5150.49 +0.82 Manila 7775.93 7816.27 -0.52 Ho Chi Minh 556.23 552.98 +0.59 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
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