SE Asia Stocks-Thai stocks outperform in March; jitters remain
BANGKOK, March 31 (Reuters) - Thai stocks closed at their
highest in almost two weeks on Monday, marking gains for a
second straight month, as month-end buying lifted large-caps and
banking shares while the Singapore index climbed to near
four-month highs led by property stocks.
Bangkok's SET index closed up 0.5 percent at
1,376.26, the highest since March 13, advancing 3.7 percent on
the month, making it Southeast Asia's best performer.
Shares of Kasikornbank, Siam Commercial Bank
and Shin Corporation were among those
actively traded amid buying via a number of block trades.
The Thai bourse has brought in a net $323 million worth of
foreign inflows so far in the month to Friday, the first net
inflow in five months.
Concerns over the political impact on the economy could keep
risk appetite in check, brokers said, as the Bank of Thailand
expected the domestic economy to contract in the first quarter
after consumption and investment fell.
Prime Minister Yingluck Shinawatra on Monday showed up to
defend herself against charges linked to a ruinous government
rice pledging scheme that could lead to her removal from office.
Singapore's key Straits Times Index finished up 0.5
percent, climbing 2.5 percent in March, a second consecutive
month of gains. Investors bought recently battered property
shares such as CapitaLand and CapitaMalls Asia
.
Stocks in Malaysia, the Philippines and
Vietnam edged slightly higher during the month.
Indonesia, which was shut on Monday, jumped 3.2
percent for the month, among the region's outperformers.
Foreign investors have bought 24.6 trillion rupiah ($2.17
billion) worth of Indonesian shares so far this year to Friday,
sending the index 19.5 percent higher in U.S. dollar terms,
making it Asia's best performer.
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 409.13 406.94 +0.54
Singapore 3188.62 3172.17 +0.52
Kuala Lumpur 1849.21 1850.73 -0.08
Bangkok 1376.26 1368.90 +0.54
Manila 6428.71 6359.62 +1.09
Ho Chi Minh 591.57 594.29 -0.46
Change on year
Market Current End 2013 Pct Move
TR SE Asia Index* 409.13 388.37 +5.35
Singapore 3188.62 3167.43 +0.67
Kuala Lumpur 1849.21 1866.96 -0.95
Bangkok 1376.26 1298.71 +5.97
Jakarta -- 4274.18 +11.56
Manila 6428.71 5889.83 +9.15
Ho Chi Minh xxx.xx 504.63 +17.23
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
($1 = 11360.0000 Indonesian rupiah)
(Reporting by Viparat Jantraprap; Editing by Sunil Nair)