SE Asia Stocks-Malaysia up on post election rally; Thai SET index hits 1,600

Tue May 7, 2013 11:42am BST

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BANGKOK, May 7 (Reuters) - Malaysia's main index hit a
record close for a second session on Tuesday as investors built
up positions in large caps after Sunday's general election while
most Southeast Asian stocks ended higher, tracking overseas
gains due to strong U.S. jobs report. 
    Banks such as CIMB Group Holdings Bhd and Malayan
Banking Bhd led gainers in Malaysia, with the broader 
Kuala Lumpur's composite index ending up 1.4 percent at
1,776.73 after Monday's 3.4 percent jump. 
    Malaysian bourse noted a net foreign buying of 989.86
million ringgit ($332.5 million) on Tuesday after a 1.43 billion
ringgit ($480.6 million) of net buying on Monday with the
election lifting an overhang on the market.
    Mutual funds have been underweight on Malaysia since late
2012 but in recent weeks have moved more neutral, possibly
looking beyond the election, HSBC said in a research note dated
May 6.
    "We believe the outcome of the Malaysian general election is
market neutral with a positive bias," it said, adding that CIMB
was among its top picks as the stock's underperformance in part
stemmed from uncertainty arising from the general election.
    Thai SET index climbed 1.4 percent to a near 19-1/2
year closing high of 1,601.15 amid selective buying in shares
with of Advanced Info Service Pcl after strong
quarterly results. 
    Among weak spots, Philippine main index was down 0.3
percent, led down by index heavyweights such as SM Investments
Corp. It was still up 22.9 percent year to date, the
region's best performer.
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 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   449.84        453.00       -0.70
 Singapore          3383.16       3382.29       +0.03
 Kuala Lumpur       1776.73       1752.02       +1.41
 Bangkok            1601.15       1578.95       +1.41
 Jakarta            5042.79       4991.87       +1.02
 Manila             7146.12       7170.65       -0.34
 Ho Chi Minh         485.58        488.32       -0.56
 Change on year
 Market             Current     End prev yr    Pct Move
 TR SE Asia Index*   449.84        424.10       +6.07
 Singapore          3383.16       3167.08       +6.82
 Kuala Lumpur       1776.73       1688.95       +5.20
 Bangkok            1601.15       1391.93      +15.03
 Jakarta            5042.79       4316.69      +16.82
 Manila             7146.12       5812.73      +22.94
 Ho Chi Minh         485.58        413.73      +17.37
* 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         421,106,000          272,313,503      
 Kuala Lumpur      311,994,800          174,747,073      
 Bangkok             7,246,456           13,897,202      
 Jakarta         4,773,398,500        4,675,163,850    
 Manila                 70,002               99,477    
 Ho Chi Minh            58,061               46,835