March 14, 2014 / 10:48 AM / 4 years ago

SE Asia Stocks-Indonesia posts best gain since Sept; Thailand up

BANGKOK, March 14 (Reuters) - Indonesian shares jumped 3.2
percent on Friday, their biggest one-day gain in almost six
months, after main opposition PDI-P party named Jakarta's hugely
popular governor, Joko Widodo, as its candidate for this year's
presidential election.
    Joko Widodo's candidacy as president triggered late buying
in banking and large cap shares due to positive economic
    "The rally is driven by sentiment that Indonesia will have a
good president that is willing to take difficult decision, have
good and clean historical track record, pro-development for
all," said Wilianto Le, Head of Research at Maybank Kim Eng.
    "... and most of all an expectation of smooth transition of
power to opposition party which shows Indonesia is turning into
a developed democracy," he wrote in a report.
    Jakarta's Composite Index closed at 4,878.64, the
highest since June 2013, ending the week up 4.1 percent,
Southeast Asia's best performer.
    It slipped earlier amid weakness in the region due to
concerns about the crisis in Ukraine and weaker-than-expected
Chinese data.  
    "The market is quite excited about the nomination of Jokowi.
This could drive JCI to the 5,000 level in the near term," said
Harry Su, head of research at broker Bahana Securities.
    Shares of Bank Mandiri jumped 9.1 percent while
Bank Rakyat Indonesia surged 10.5 percent.
    Thai stocks extended their gains for a third week, rising
1.3 percent, after the Bank of Thailand cut its benchmark
interest rate and amid expectations about a possible removal of
the emergency decree.  
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 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   405.76        403.71       +0.51
 Singapore          3073.72       3081.39       -0.25
 Kuala Lumpur       1805.12       1818.86       -0.76
 Bangkok            1372.18       1370.50       +0.12
 Jakarta            4878.64       4726.17       +3.23
 Manila             6391.24       6429.79       -0.60
 Ho Chi Minh         596.83        595.22       +0.27
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   405.76        388.37       +4.48
 Singapore          3073.72       3167.43       -2.96
 Kuala Lumpur       1805.12       1866.96       -3.31
 Bangkok            1372.18       1298.71       +5.66
 Jakarta            4878.64       4274.18      +14.14
 Manila             6391.24       5889.83       +8.51
 Ho Chi Minh         596.83        504.63      +18.27
* 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         288,544,700          231,361,330      
 Kuala Lumpur      148,488,900          129,051,360      
 Bangkok             8,339,926            5,766,702      
 Jakarta         6,418,320,600        3,692,478,493    
 Manila                 47,929               81,919    
 Ho Chi Minh           163,990              139,823

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