SE Asia Stocks-Indonesia outperforms on week; coal miners lead
BANGKOK, May 8 (Reuters) - Southeast Asian stock markets mostly rose on Friday as Indonesia capped its best weekly gain since January led by select coal mining shares, while gains in Thai banks helped the broader SET index bounce off six-week lows. The Jakarta composite index closed up 0.6 percent, taking its weekly gain to 1.9 percent, the biggest since the week ended Jan. 23 and the best performing index in the region. Shares of Indo Tambangraya Megah jumped 5.6 percent, the top percentage gainer on MSCI's Indonesia index . Shares of United Tractors and Bukit Asam were also among top performers. Bangkok's SET index ended up 0.8 percent on the day, falling 1.1 percent on the week. It slipped to 1,494.92 at one point, the lowest since March 27. Bargain hunting emerged in oversold large cap banks such as Siam Commercial Bank and Kasikornbank. Improving sentiment in global markets helped stocks in Singapore and Malaysia snap losing streaks, trimming their losses on the week to 1 percent and 0.6 percent, respectively. Vietnam rose for a second day, ending the week 1.4 percent lower with market strategists citing the devaluation of it dong currency as being supportive of sentiment. The Philippines fell for a third day, with a modest weekly gain of 0.6 percent. Corporate earnings have been mixed to date. Thai PTT Global Chemical lost 1.2 percent after a quarterly earnings drop due to weak oil prices. Singapore's Wilmar International rose 0.3 percent following a quarterly profit jump. 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 3452.01 3432.78 +0.56 Kuala Lumpur 1807.65 1805.10 +0.14 Bangkok 1510.51 1498.31 +0.81 Jakarta 5182.21 5150.49 +0.62 Manila 7763.21 7816.27 -0.68 Ho Chi Minh 554.51 552.98 +0.28 Change on year Market Current End 2014 Pct Move Singapore 3452.01 3365.15 +2.58 Kuala Lumpur 1807.65 1761.25 +2.63 Bangkok 1510.51 1497.67 +0.86 Jakarta 5182.21 5226.95 -0.86 Manila 7763.21 7230.57 +7.37 Ho Chi Minh 554.51 545.63 +1.63 (Reporting by Viparat Jantraprap; Additional reporting by Fransiska Nangoy in Jakarta; Editing by Biju Dwarakanath)
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