SE Asia Stocks-Most up; selective buying in reporting season
BANGKOK, Jan 23 (Reuters) - Southeast Asian stock markets ended mostly higher on Wednesday as buyers selectively bought shares in a reporting season, while upbeat U.S. corporate earnings and stronger investor confidence in Germany helped lift the outlook for the global economy. Kuala Lumpur Composite Index gained 0.4 percent to 1,635.25, ending five sessions of falls amid concerns about the country's upcoming election. Tenaga Nasional Bhd, the top electricity utility, was up 0.6 percent. After the market close, Tenaga reported a better-than-expected quarterly profit. Nomura Equity Research said uncertainties surrounding the election and investors' reluctance to take risk could result in high volatility in stock prices. It preferred defensive sectors in early 2013 and advocated selective risk-taking. "Factoring in potential election risks, we raise the telcos to overweight, while keeping our bullish stance on banks, construction, plantation and oil & gas," Nomura's Malaysia Equity Strategy report said. Bangkok's SET index rose 0.4 percent to 1,439.20, with industrial conglomerate Siam Cement Pcl gaining as much as 3.6 percent to an all-time high on expectations of strong quarterly results boosted by cement and paper earnings. Siam Cement is expected to report the fourth quarter earnings next week. The Philippine Composite Index extended its loss for a second session, ending down 0.2 percent at 6,092.53. It set a record finish of 6,171.70 on Monday. The Ho Chi Minh Stock Exchange's VN Index edged up 0.12 percent to 443.37 after losing a combined 4.9 percent over the past four sessions. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 432.76 430.72 +0.47 Singapore 3231.23 3219.86 +0.35 Kuala Lumpur 1635.25 1628.66 +0.40 Bangkok 1439.20 1434.09 +0.36 Jakarta 4418.73 4416.55 +0.05 Manila 6092.53 6104.90 -0.20 Ho Chi Minh 443.37 442.85 +0.12 Change on year Market Current End prev yr Pct Move TR SE Asia Index* 432.76 424.10 +2.04 Singapore 3231.23 3167.08 +2.03 Kuala Lumpur 1635.25 1688.95 -3.18 Bangkok 1439.20 1391.93 +3.40 Jakarta 4418.73 4316.69 +2.36 Manila 6092.53 5812.73 +4.81 Ho Chi Minh 443.37 413.73 +7.16 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Stock Market Volume (shares) Market Current Volume Average Volume 30 days Singapore 217,792,100 272,313,503 Kuala Lumpur 162,450,500 140,109,200 Bangkok 40,041,300 18,418,460 Jakarta 3,066,339,000 3,632,493,917 Manila 162,118 91,858 Ho Chi Minh 50,656 73,261
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.