October 14, 2016 / 5:31 AM / 2 years ago

SE Asia Stocks-Thailand rises over 4 pct as markets stay calm

By Susan Mathew
    Oct 14 (Reuters) - Thai stocks rose as much as 4.25
percent on Friday in their biggest intraday percentage gain in
more than three years, as markets stayed calm after the death of
King Bhumibol Adulyadej on Thursday.
    The king had been unwell for much of the past year and the
announcement by the palace of his passing away followed two
announcements made over the past week about his deteriorating
    "While sentiment is likely to be subdued due to the demise
of the revered king, I do not expect significant downside from
here on relating to this," said Kum Soek Ching, head of
Southeast Asia research at Credit Suisse Private Banking.
    "Consumer, retail, F&B are expected to underperform with
more restrained spending in at least the next 30 days, but the
earnings impact shouldn't be lasting."
    Thailand is unlikely to face major economic disruption after
the death of the king, some risk analysts and diplomats said.
    "The military government which has carried the country
through a period of increasing GDP growth could help the country
through the period of transition," said Jingyi Pan, a
Singapore-based strategist at IG Asia.
    Most other Southeast Asian markets rose, tracking gains in
Asian peers as stronger-than-expected Chinese inflation data
eased some concerns about the health of the world's
second-biggest economy. 
    China's producer prices rose unexpectedly in September for
the first time in nearly five years, while consumer inflation
quickened to 1.9 percent from a year earlier, also beating
market expectations. 
    Sentiment also got a boost from crude oil prices, which
edged up on the back of a tighter U.S. fuel market and as
technical indicators attracted buying from financial players
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.4 percent after dropping 1.1 percent on
    Philippine shares rose 1 percent, posting their
biggest intraday percentage gain in over two weeks and snapping
a seven-session losing streak. 
    Singapore shares were trading higher after five
sessions of falls, while Vietnam hit a one-week high. 
For Asian Companies click;  

  Change at 0446                                        
  Market            Current       Previous     Pct Move
  Singapore         2811.81       2805.48      0.23
  Bangkok           1468.23       1412.82      3.92
  Manila            7380.29       7312.18      0.93
  Jakarta           5337.687      5340.4       -0.05
  Kuala Lumpur      1662.34       1665.02      -0.16
  Ho Chi Minh       689.58        685.23       0.63
  Change so far                                
  Market            Current       End 2015     Pct Move
  Singapore         2811.81       2882.73      -2.46
  Bangkok           1468.23       1288.02      13.99
  Manila            7380.29       6952.08      6.16
  Jakarta           5337.687      4593.008     16.21
  Kuala Lumpur      1662.34       1692.51      -1.78
  Ho Chi Minh       689.58        579.03       19.09
 (Reporting by Susan Mathew in Bengaluru; additional reporting
by; Pairat Temphairojana in Bangkok and Nichola Saminather in
Singapore; Editing by Subhranshu Sahu)
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