SE Asia Stocks-Rallying Philippine retreats; Indonesia at new high

BANGKOK, March 7 (Reuters) - Southeast Asian stock markets
ended mostly weaker to flat on Thursday in line with weaknesses
in Asia, with the Philippines retreating from an all-time high
and Indonesia posting modest gains after Bank Indonesia left
rate unchanged as expected.
Investors cashed in large caps such as Philippine Long
Distance Telephone Co (PLDT) which fell 1.7 percent.
The stock rallied early in the week on strong quarterly results.

Citi Research downgraded PLDT shares to 'sell' from 'buy'
and cut their price target to 2,700 peso.
"PLDT's share price has run up owing to a combination of
domestic liquidity inflows and hope that competition improves.
We now find valuations to be expensive and profit momentum is
likely falling short of prior targets," the broker said in a
report dated March 6.
PLDT shares closed at 2,942 peso on Thursday.
The Philippines closed down 1.6 percent at 6,725.13
after hitting a record close of 6,835.21 on Wednesday. Malaysia
ended nearly unchanged at 1,650.93 after a nearly 1
percent gain over the past two sessions.
Malaysia is Asia's worst performer in 2013 with a
year-to-date loss of 2.3 percent. Domestic investors were net
sellers of the market this year amid cautious views ahead of a
national election expected in the first half of 2013.
Foreign investors bought Malaysian shares on Thursday, their
fifth consecutive session for the month, with a net buying of
$68.28 million, taking their net buying to around $320 million
month to date.
Singapore edged up 0.2 percent at 3,298.54 and
Thailand was up 0.1 percent at 1,560.98, hovering around
a 19-year high.
Indonesia gained 0.5 percent to 4,848.30, marking a
record close for a second straight session, led by a 2.1 percent
gain in PT Bank Mandiri Persero Tbk.
Indonesia's central bank left its benchmark interest rate
unchanged at a record low 5.75 percent, as expected, saying it
expects price pressures to ease after inflation hit a 20-month
high in February.

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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 443.23 447.72 -1.00
Singapore 3298.54 3291.81 +0.20
Kuala Lumpur 1650.93 1651.84 -0.06
Bangkok 1560.98 1559.35 +0.10
Jakarta 4848.30 4824.68 +0.49
Manila 6725.13 6835.21 -1.61
Ho Chi Minh 466.63 471.09 -0.95

Change on year
Market Current End prev yr Pct Move
TR SE Asia Index* 443.23 424.10 +4.51
Singapore 3298.54 3167.08 +4.15
Kuala Lumpur 1650.93 1688.95 -2.25
Bangkok 1560.98 1391.93 +12.15
Jakarta 4848.30 4316.69 +12.32
Manila 6725.13 5812.73 +15.70
Ho Chi Minh 466.63 413.73 +12.79

* 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 299,845,100 272,313,503
Kuala Lumpur 124,965,900 159,937,040

Bangkok 12,362,339 15,735,221
Jakarta 6,283,457,500 5,535,998,733
Manila 111,620 136,295
Ho Chi Minh 46,949 74,198