Indonesia jumps on Asia rally; Thai shares lag

Reuters - Indonesian shares jumped almost 2 percent while Malaysia and the Philippines also eked out gains on Wednesday as Turkey's huge increase in interest rates bolstered sentiment across Asia but Thai stocks retreated, wary of risks ahead of Sunday's poll.

Jakarta's Composite Index finished at 4,417.35 as foreign investors returned to the battered market and large caps such as Bank Mandiri and Telkom Indonesia recouped some of their recent losses. The Indonesian bourse recorded net foreign buying of 245 billion rupiah ($20.10 million) on Wednesday, its first in four sessions.

Malaysia's main index was up 0.45 percent, the Philippines' main index gained 0.8 percent while MSCI's broadest index of Asia-Pacific shares outside Japan rose 1 percent. Thai shares pared earlier gains, ending a tad lower at 1,271.42 amid active selling in shares of Siam Commercial Bank and Bangkok Bank.

Players remained on the sidelines, with the market's trading volume falling to 0.7 times of its full day average over the past 30 sessions, as the Thai government pushed ahead with a general election on Sunday despite warnings it could end in violence.

Foreign investors sold shares worth a net 599 million baht ($18.21 million), adding to their net redemption of $205 million over the past three sessions. Singapore underperformed peers, down 0.5 percent as investors trimmed positions ahead of the Lunar New Year holidays.

Singapore, Indonesia and the Philippines will be closed on Friday for a Lunar New Year holiday, while Malaysia will remain shut on Thursday and Friday. Vietnam was closed for a second day on Wednesday for the country's Lunar New Year festival. Trading will resume on Thursday, Feb. 6.

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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market                          Current     Prev Close    Pct Move
 TR SE Asia Index*      378.78         377.35         +0.38
 Singapore                 3047.93       3062.41          -0.47
 Kuala Lumpur          1789.23       1781.25         +0.45
 Bangkok                    1271.42       1271.29         -0.03
 Jakarta                       4417.35       4341.65        +1.74
 Manila                        6069.84       6022.81        +0.78
 
 Change on year
 Market                         Current       End 2013    Pct Move
 TR SE Asia Index*      378.78        388.37        -2.47
 Singapore                  3047.93       3167.43      -3.77
 Kuala Lumpur          1789.23       1866.96       -4.16
 Bangkok                    1271.42       1298.71       -2.10
 Jakarta                      4417.35        4274.18       +3.35
 Manila                       6069.84        5889.83       +3.06
 Ho Chi Minh                      --           504.63         +10.28
 
* 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              177,521,800          168,054,623      
 Kuala Lumpur       125,884,500          113,894,573      
 
 Bangkok                 3,433,528               4,798,864      
 Jakarta                   2,926,037,900        2,851,924,670    
 Manila                    104,614                   72,388