April 19, 2016 / 10:27 AM / 2 years ago

SE Asia Stocks-Mixed; Thai index hits highest close in more than 5 mths

JAKARTA, April 19 (Reuters) - Southeast Asian stock markets
traded mixed on Tuesday with the Thai index extending gains to
close at its highest since Nov. 4, while stocks in the
Philippines were down amid uncertainty ahead of a presidential
election in May.
    Thailand's SET index gained 1.2 percent, with shares
of Siam Cement PCL rising 4.7 percent to their highest
since Oct. 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.
    Some financial companies in Thailand have started reporting
earnings this week. 
    Taking cues from an Asian stocks rally, Singapore's Straits
Times Index rose 1.2 percent, closing at its highest
since Nov. 12. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 1 percent.
    Meanwhile, the Philippine stock index fell 0.4
percent, extending losses to a third day, amid political
    "Locally, volumes are expected to remain subdued as
investors continue to take a wait and see attitude with
elections nearing in less than three weeks," SB Equities said in
a note to clients.   
    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 Malaysia fell 0.4 percent, while those in
Indonesia rose 0.3 percent.
For Asian Companies click;  
 Change on day 
 Market         Current   Prev close  Pct move
 Singapore       2951.81     2917.75      1.17
 Kuala Lumpur    1711.15     1717.68     -0.38
 Bangkok         1416.00     1398.77      1.23
 Jakarta         4881.93     4865.53      0.34
 Manila          7215.09      7243.4     -0.39
 Ho Chi Minh      568.28      579.86     -2.00
 Change on year
 Market         Current    End 2015   Pct move
 Singapore       2951.81     2882.73      2.40
 Kuala Lumpur    1711.15     1692.51      1.10
 Bangkok            1416     1288.02      9.94
 Jakarta         4881.93    4593.008      6.29
 Manila          7215.09     6952.08      3.78
 Ho Chi Minh      568.28      579.03     -1.86

 (Reporting by Fransiska Nangoy; Editing by Biju Dwarakanath)
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