October 14, 2016 / 10:41 AM / in 2 years

SE Asia Stocks-Thailand rises most in five years

By Susan Mathew
    Oct 14 (Reuters) - Thai shares rose 4.6 percent on Friday,
the sharpest in five years, as markets stayed calm after the
death of King Bhumibol Adulyadej on Thursday.
    The king had been unwell for much of the past year and the
announcement by the palace of his passing away followed two
announcements made over the past week about his deteriorating
    The Thai stock index started recovering towards the
end of Thursday's trading after four sessions of falls. 
    "The fast money tends to sell first and then when the news
is out, they rebalance their positions. They (investors) may
have been shorting into this and now that the news is out they
are trying to buy back," said Khiem Do, head of Asian
multi-asset investments, Baring Asset Management. 
    "But I don't think this is the end of the fall, or the
uncertainty about Thailand. We have to wait and see." 
    Sentiment is likely to be subdued due to the demise of the
revered king, said Kum Soek Ching, head of Southeast Asia
research at Credit Suisse Private Banking. But she said she did
not expect any significant downside from here on.
    "Consumer, retail and F&B are expected to underperform with
more restrained spending in at least the next 30 days, but the
earnings impact shouldn't be lasting," she added.
    For the week, the stock index declined 1.78 percent, its
biggest since the week ended Sept. 9.
    Most other Southeast Asian markets gained, tracking Asian
peers, as better-than-expected Chinese inflation data eased
concerns about the world's second-largest economy.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.6 percent after dropping 1.1 percent on
    The Manila market rose 1 percent, snapping a
seven-session losing streak, but posted a weekly decline of 2.5
    Energy and financials led the gains, with Semirara Mining
Corp gaining over 3 percent and BDO Unibank Inc
 rising more than 1 percent.
    Indonesian stocks rose over 1 percent, while
Singapore and Vietnam closed slightly higher.
    For the week, Singapore fell 2.1 percent while Vietnam
gained 0.5 percent.
For Asian Companies click;  
  Change on day                                         
  Market            Current       Previous     Pct Move
  Singapore         2815.24       2805.48      0.35
  Bangkok           1477.61       1412.82      4.59
  Manila            7389.3        7312.18      1.05
  Jakarta           5399.885      5360.828     1.11
  Kuala Lumpur      1658.97       1665.02      -0.36
 Ho Chi Minh        687           685.23       0.26
  Change on year                               
  Market            Current       End 2015     Pct Move
  Singapore         2815.24       2882.73      -2.34
  Bangkok           1477.61       1288.02      14.72
  Manila            7389.3        6952.08      6.29
  Jakarta           5399.885      4593.008     17.57
  Kuala Lumpur      1658.97       1692.51      -1.98
 Ho Chi Minh        687           579.03       18.65
 (Reporting by Susan Mathew in Bengaluru; additional reporting
by Claire Milhench in London and Nichola Saminather in
Singapore; Editing by Subhranshu Sahu)
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