Reuters: Hot Stocks: SE Asia Stocks-Mixed; Thailand, Philippines fall from near 6-wk high

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SE Asia Stocks-Mixed; Thailand, Philippines fall from near 6-wk high Jul 19th 2013, 05:36 Tweet Share this Email Print Fri Jul 19, 2013 1:36am EDT July 19 (Reuters) - Stock markets in Thailand and the Philippines fell on Friday from their near six-week closing highs in early trade, led by profit-taking in banks and with investors waiting for more direction at a G20 meeting after the U.S. Federal Reserve chairman's comments. Both Thailand's SET index and Philippines stock index were down 0.4 percent each from their highest closing level since June 10, with banks dragging the indexes. "The SET index is facing short-term profit taking after yesterday's outperformance," said Teerada Charnyingyong, a strategist at Bangkok-based Phillip Securities. "However, I think the good news from Fed comments and foreign buying have helped to cushion the loss. The support level would be around 1470." Bangkok's Kasikornbank Pcl was 2.4 percent down and Manila's BDO Unibank was trading 1.6 percent weaker. Singapore's Straits Times Index was down 0.2 percent, weighed down by Keppel Corp Ltd after the oil rig builder reported a 33 percent fall in second-quarter net profit. Bucking the trend, Jakarta's Composite Index was up 0.3 percent at 4734.39, trading around its near three-week high, supported by small caps and second-liner stocks. "JCI is a long-term bullish and has a potential upward movement with trading range of 4,679-4,801," Trimegah Securities said in a note on Friday. Malaysia's benchmark stock index rose 0.4 percent in early trade, led by gains in the country's largest electricity utility, Tenaga Nasional Bhd, and palm oil company IOI Corp Bhd. In Hanoi, Vietnam's benchmark VN Index was 1 percent firmer, leading regional bourses, driven by gains in big cap energy and banking sector stocks. For Asian Companies click For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0422 GMT Market Current Prev Close Pct Move TR SE Asia Index* 433.84 435.16 -0.30 Singapore 3213.29 3218.20 -0.15 Kuala Lumpur 1799.25 1791.54 +0.43 Bangkok 1481.25 1487.19 -0.41 Jakarta 4734.39 4720.44 +0.32 Manila 6619.42 6648.35 -0.44 Ho Chi Minh 501.84 496.84 +1.01 (Reporting by Shihar Aneez in Colombo and Andjarsari Paramaditha in Jakarta; Editing by Jijo Jacob) Tweet this Link this Share this Digg this Email Reprints Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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