Reuters: Hot Stocks: SE Asia Stocks-Firmer; Thailand, Philippines outperform

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

SE Asia Stocks-Firmer; Thailand, Philippines outperform Jul 23rd 2013, 05:56 Tweet Share this Email Print Tue Jul 23, 2013 1:56am EDT July 23 (Reuters) - All Southeast Asian markets gained on Tuesday, with Thailand and Philippines outperforming the region in early trade as optimism about China's economic growth lifted Asian markets overall. Sentiment in China was boosted by media reports that the government would invest in railway projects to help ease a capacity glut in steel, cement and other construction materials, and that Beijing would not permit economic growth to sink below 7 percent. Bangkok's main share index was up 1.5 percent to a six-week high, breaching a psychological level of 1,500 in early trade after the market opened following a long weekend. The Thai market rose despite the country's central bank cutting its 2013 economic growth forecast to 4.2 percent from 5.1 percent on Friday, adding to worries about economic growth in the second half of this year. True Corp shares jumped more than 4.5 percent after the Thai telecoms group said it would set up an infrastructure fund worth at least 70 billion baht ($2.25 billion) to strengthen its financial position. KGI Securities said in a note it expects to see high speculation on True on expectations for such a fund, which should be concluded by the third quarter of 2013 and would change True's financial structure. Philippines' main share index rose 1.4 percent to its highest since June 10, while Jakarta's Composite Index was up 1.3 percent to its three-week high. Singapore's Straits Times Index was up 0.3 percent to a one-week high, led by banks. However, shares in SIA Engineering Co. Ltd, a subsidiary of Singapore Airlines Ltd, fell as much as 4.3 percent to their lowest in one month after a 19.5 percent drop in the company's first-quarter operating profit sparked worries of earnings downgrades. Malaysia's benchmark stock index rose 0.3 percent in early trade to its 11-week high, while Vietnam's benchmark VN Index was also 0.3 percent firmer at a five-week high. For Asian Companies click For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0509 GMT Market Current Prev Close Pct Move TR SE Asia Index* 438.17 433.99 +0.96 Singapore 3248.81 3234.35 +0.44 Kuala Lumpur 1802.89 1797.68 +0.27 Bangkok 1503.33 1481.84 +1.45 Jakarta 4745.21 4678.98 +1.42 Manila 6718.13 6627.36 +1.37 Ho Chi Minh 507.66 506.16 +0.30 ($1 = 31.0850 Thai baht) (Reporting by Shihar Aneez in Colombo and Viparat Jantraprap in Bangkok; Editing by Prateek Chatterjee) 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.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions