BANGKOK, March 7 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. 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* 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
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