Firmer on easing emerging market concerns; Thai shares gain

Reuters - Most Southeast Asian stocks ended firmer on Monday, led by Thailand and Indonesia on hopes foreign funds will return to emerging markets, while positive earnings also helped boost sentiment.

Thailand's SET index jumped 1.6 percent to its highest close since Dec. 25, led by a 2.8 percent gain in the country's top oil company PTT Pcl. Airports of Thailand, which posted a better-than-expected quarterly net profit also jumped 4 percent, helping the overall Bangkok index.

Analysts said domestic political concerns could hinder the overall performance of the market and foreign buying as Thailand's economy slowed significantly in the final quarter of 2013 when the unrest started, data showed on Monday.

The state planning agency cut its forecast for Thailand's growth this year because of the political unrest that could prevent the formation of a fully functioning government for months.

Thai market saw a net outflow of $12.33 million, extending its net outflow to $897.9 million in the last 16 straight sessions.

Jakarta's Composite Index gained 1.1 percent to a more than 3-1/2-month high, helped by a net foreign inflow of $5.72 million on Monday. Foreigners have bought a net $133.95 million worth risky assets in Jakarta.

The index has gained about 4.7 percent in the last nine sessions with a recent set of positive economic data supportive to broader sentiment.

Singapore shares ended 1 percent higher at more than three-week highs, led by banks after positive earnings from United Overseas Bank Ltd lifted its shares to their highest in 2-1/2 weeks on Monday.

The Philippines main index gained 0.9 percent to a three-week high with an inflow of $4.53 million and Malaysian shares rose 0.5 percent to a five-week closing high.

Bucking the trend, Vietnam ended 0.4 percent weaker due to profit-taking in most blue chips, while investors bought small- and mid-cap shares.

SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market                     Current     Prev Close    Pct Move
 TR SE Asia Index*    394.92        389.89         +1.29
 Singapore              3069.28       3038.71        +1.01
 Kuala Lumpur        1827.48       1819.37        +0.45
 Bangkok                1332.37       1311.87        +1.56
 Jakarta                  4555.37       4508.04        +1.05
 Manila                   6167.82       6113.66         +0.89
 Ho Chi Minh            570.20         572.22         -0.45
 
 Change on year
 Market                      Current       End 2013    Pct Move
 TR SE Asia Index*     394.94           388.37       +1.69
 Singapore               3069.28         3167.43        -3.10
 Kuala Lumpur         1827.48         1866.96        -2.11
 Bangkok                 1332.37         1298.71        +2.59
 Jakarta                   4555.37         4274.18        +6.58
 Manila                    6167.82         5889.83        +4.72
 Ho Chi Minh             570.20           504.63       +12.99
 
* 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             177,666,300          190,587,750      
 Kuala Lumpur       115,672,600          128,970,357      
 
 Bangkok                   5,388,484            4,780,064      
 Jakarta              3,475,311,920        3,000,552,970    
 Manila                           77,190               73,735    
 Ho Chi Minh                140,254               96,593