Reuters: Hot Stocks: SE Asia Stocks-Firmer after Bernanke comments

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SE Asia Stocks-Firmer after Bernanke comments Jul 18th 2013, 05:25 Tweet Share this Email Print Thu Jul 18, 2013 1:25am EDT July 18 (Reuters) - All Southeast Asian stock markets gained on Thursday, with Thailand and Philippines rising more than 1 percent in early trade, after Federal Reserve Chairman Ben Bernanke pledged to keep monetary policy easy for the foreseeable future. Bernanke on Wednesday said the timeline for winding down the U.S. central bank's stimulus program was not set in stone. Thailand's main index was up 1.3 percent, trading at its one-month high, Philippines main index was 1.1 percent firmer at their five-week high, and Singapore's Straits Times Index was 0.5 percent firmer. "Sentiment is quite bullish after the U.S. Fed comments on quantitative easing," said Teerada Charnyingyong, strategist at Bangkok-based Phillip Securities. She said investors were also bullish on Thai bourse due to positive earnings outlook. Jakarta's Composite Index rose 0.6 percent to a two-week high of 4707.58, led by consumer-related stock Unilever Indonesia Tbk. Edwin Sebayang, head of research of MNC Securities in Jakarta, said Indonesian bourse is expected to continue rising, but in a limited range on concerns over further depreciation of the local currency rupiah. Sebayang said the rupiah breaking above a "psychological" 10,000 level must be a burden for some debt issuers and companies importing raw materials in dollars, despite intervention by the country's central bank and monetary policy tightening. In Singapore, property developer Keppel Land Ltd rose as much as 2.5 percent to a five-week high after it reported strong sales in China in the first half of the year even though its second-quarter results gave little upside surprise. Malaysia's main index edged up 0.2 percent in early trade, while Vietnam's VN index also gained 0.2 percent in choppy trade as speculators bought blue chips while most investors stayed on the sidelines. For Asian Companies click For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0424 GMT Market Current Prev Close Pct Move TR SE Asia Index* 433.56 431.53 +0.46 Singapore 3220.88 3208.33 +0.39 Kuala Lumpur 1791.70 1788.66 +0.17 Bangkok 1475.13 1458.08 +1.17 Jakarta 4699.39 4679.00 +0.44 Manila 6645.30 6574.72 +1.07 Ho Chi Minh 499.64 497.50 +0.23 (Reporting by Shihar Aneez in Colombo and Andjarsari Paramaditha in Jakarta) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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