SE Asia Stocks-Thai shares perk up after unexpected rate cut

Wed Nov 27, 2013 10:58am GMT

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BANGKOK, Nov 27 (Reuters) - Thai stocks rose on Wednesday as
the central bank's unexpected rate cut boosted interest
rate-sensitive property stocks such as Land & Houses 
while most Southeast Asian stock markets posted limited gains
after a range-bound session.
    Thai SET index rose 1.1 percent, building on the
modest rise on Tuesday and further recouping its losses this
month, after the Bank of Thailand surprisingly cut its benchmark
interest rate by 25 basis points to cope with domestic risks.
 
    The benchmark drifted lower in early trading hours as
anti-government protesters marched across the Bangkok capital
and stepped up protests across the country in an effort to oust
Prime Minister Yingluck Shinawatra. 
    The property sub-index was an outperformer, surging
 3.3 percent, led by a 4.7 percent rise in shares of Land &
Houses, the third-biggest percentage gainer on the large cap
SET50 index. 
    Thai stocks suffered more outflows, with foreign investors
selling a net 4.4 billion baht ($137.5 million) on the day,
taking their net selling this month to $1.46 billion and
year-to-date net selling to $4.9 billion.
  
    In a choppy session, stocks in Indonesia closed up
0.4 percent, falling at one point to an 11-week low amid the
weakness in the rupiah. The Indonesian currency lost
1.1 percent to its weakest since March 2009. 
 
    The Philippines, plagued by the impact of typhoon
Haiyan, gained 0.5 percent following the rebound on Tuesday.
Singapore and Malaysia were nearly flat, edging
down 0.05 percent and up 0.02 percent, respectively.
    Stocks in Vietnam pared early gains to fall 0.2
percent, after three straight sessions of rising streaks.
       
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   397.89        397.54       +0.09
 Singapore          3172.06       3173.51       -0.05
 Kuala Lumpur       1798.46       1798.13       +0.02
 Bangkok            1373.11       1358.69       +1.06
 Jakarta            4251.49       4235.26       +0.38
 Manila             6053.87       6025.37       +0.47
 Ho Chi Minh         508.43        509.16       -0.14
 
 Change on year
 Market             Current     End prev yr    Pct Move
 TR SE Asia Index*   397.89        424.10       -6.18
 Singapore          3172.06       3167.08       +0.16
 Kuala Lumpur       1798.46       1688.95       +6.48
 Bangkok            1373.11       1391.93       -1.35
 Jakarta            4251.49       4316.69       -1.51
 Manila             6053.87       5812.73       +4.15
 Ho Chi Minh         508.43        413.73      +22.89
 
* 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         192,118,400          217,327,635      
 Kuala Lumpur      137,681,500          126,084,927      
 
 Bangkok             6,476,487            7,293,735      
 Jakarta         2,790,126,000        3,380,198,683    
 Manila                119,850               79,727    
 Ho Chi Minh           102,743               84,297
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