April 19, 2016 / 5:26 AM / 2 years ago

SE Asia Stocks-Mixed; Thai shares gain ahead of earnings release

JAKARTA, April 19 (Reuters) - Southeast Asian stock markets
traded mixed on Tuesday with the Thai index extending gains to
its highest in nearly three weeks, while stocks in the
Philippines were down amid uncertainty ahead of a presidential
election in May.
    Thailand's SET index gained 0.6 percent to its
highest since March 31, led by shares of Siam Cement PCL
 which rose 3.4 percent to their highest since October
2015. Siam Cement gained 3.6 percent on Monday when Nomura
raised its target price for the stock. 
    The Thai benchmark rose for a fifth session on Tuesday. 
    "Much of the investors' attention may now be shifting to
earnings as the first-quarter earnings season is just around the
corner," broker Phillip Capital in Bangkok said in a note. 
    "In our view, Thai stocks are no longer cheap after the SET
index's FY16 forward P/E has climbed back to 15x, but we believe
earnings plays may support the market's downside," it said.
    Thailand is likely to kick off its first-quarter earnings
season this week.
    Meanwhile, the Philippine stock index fell 0.7
percent, extending losses to a third day, amid political
    A presidential election in the Philippines could go down to
the wire after an offensive gaffe by front-runner Rodrigo
Duterte about a rape victim caused outrage and could mean a loss
of crucial swing votes with just three weeks to go. 
    Stocks in Singapore rose 0.6 percent, while Malaysian
stocks fell 0.5 percent.
For Asian Companies click;  

 Change 0502 GMT
 Market            Current    Prev close  Pct move
 Singapore           2937.86     2917.75       0.69
 Kuala Lumpur        1709.88     1717.68      -0.45
 Bangkok             1408.84     1398.77       0.72
 Jakarta             4868.74     4865.53       0.07
 Manila              7189.75      7243.4      -0.74
 Ho Chi Minh          577.04      579.86      -0.49
 (Reporting by Fransiska Nangoy; Editing by Sunil Nair)
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