SE Asia Stocks-Malaysia flat in half-day trading; Q2 results in focus
BANGKOK, July 16 (Reuters) - Southeast Asian stock markets were mixed on Thursday amid holiday-thinned volumes and selective buying in a reporting season, while stocks in Malaysia gave up small gains in a truncated half-day session ahead of a market holiday. The Kuala Lumpur composite index ended the day 0.03 percent lower with trading volumes just slightly over two-thirds a 30-day average. The market will be closed on Friday for the Hari Raya Aidil Fitri holidays. Singapore's key index was up 0.3 percent at a two-week high, with shares of DBS Group Holdings rising 0.7 percent, the most actively traded. The city-state's bourse will be closed on Friday. Broker Nomura estimates DBS will report higher profit in its second quarter on higher interest rates, and expects it to report stable credit cost when it announces its results on July 27. "We believe DBS' share price, which has been flat year to date is poised for a re-rating in the second half of 2015," Nomura said in a report. "A U.S. interest rate increase should support DBS' share price as it will strengthen the case for further increases in local interest rates," it said. Most Asian shares edged up on Thursday after volatile Chinese stocks reversed course and rose, while the dollar stood tall after Federal Reserve Chair Janet Yellen reinforced expectations for a U.S. rate hike. In Bangkok, losses in banking shares due to expectations of weak quarterly results sent the SET index 0.3 percent lower. Shares of TMB Bank dropped 2.5 percent, the worst performer on MSCI's index of Thailand. Indonesia is closed on Thursday through July 21 for the Eid al-Fitr celebrations. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0550 GMT Market Current Prev Close Pct Move Singapore 3350.64 3338.86 +0.35 Kuala Lumpur 1726.73 1727.26 -0.03 Bangkok 1481.62 1486.74 -0.34 Manila 7588.43 7559.04 +0.39 Ho Chi Minh 629.46 630.89 -0.23 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
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