SE Asia Stocks-Jakarta, Manila set new records; others mixed | Reuters
* Inflow boost share prices in Indonesia, Philippines
* Singapore hits 28-month highs; fund buying seen
* Thai stocks off 14-year highs; late selling in banks
By Viparat Jantraprap
BANGKOK, Oct 4 (Reuters) - Most Southeast Asian stock
markets rose on Monday as positive spillover from a broad Asian
rally increased investor appetite in the region, with energy
shares a focus of buying interests amid high global oil prices.
Capital inflow helped boost share prices, outweighing a
prospect of slowing Southeast Asian economic growth and the
region's relatively high valuations.
Indonesia .JKSE and the Philippines .PSI set new
all-time highs on the day, adding 0.6 percent and 1.9 percent,
respectively. Singapore's Straits Times Index .FTSTI rose 0.9
percent to its highest level in 28 months.
"The development on the U.S. quantitative easing is really
important this week as without that the spree of funds flow
might begin to fade," said Bangkok-based KGI Securities
strategist Rakphong Chaisuparakul.
Asian stocks shot to a two-year high on Monday, boosted by
interest in emerging markets, while the dollar edged up after
last week's sell-off, though speculation the Federal Reserve
will add to money supply was still rife.
The MSCI index of Asia Pacific shares outside Japan
.MIAPJ0000PUS, which has risen for six consecutive weeks, was
up 0.7 percent at 1033 GMT, with the energy sector leading the
pack on the back of firm crude prices.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
For a graphic on market developments:
link.reuters.com/rem45n
For a comparison of global markets this year,
here
For Asian markets' performance, see:
here
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
Malaysia .KLSE was down 0.3 percent, earlier climbing
close to a 32-month high set in late September. Vietnam .VNI
fell 1.3 percent, its second straight session. Thailand .SETI
lost 1.5 percent, coming off a 14-year high hit in early trade.
Despite the loss, Thailand saw $118.3 million worth of net
share purchases by foreigners, the biggest daily net buying in
almost two weeks.
Manila recorded $69.4 million worth of inflow on the day,
its highest daily inflow in the past month, Indonesia had $59.7
million of net foreign buying, further extending strong inflows
seen in the third quarter, Thomson Reuters data showed.
Energy shares did well in the region, including Thailand's
top refinery Thai Oil Pcl TOP.BK rising 3.7 percent, hovering
around a two-year high, and Philippine energy producer Aboitiz
Power Corp (AP.PS), which gained 5.5 percent.
In Singapore, funds started their buying programme for the
fourth quarter, a dealer said. Southeast Asia's biggest bourse
by market capitalisation lagged most of its smaller peers in
the third quarter.
"Funds reestablished their positions at the start of the
quarter. Overall, there is more money in the region. Singapore
is among good spots given investors are less optimistic
elsewhere," a Singapore-based stock market dealer said.
In Bangkok, investors took profits in rallying banking
stocks, pulling Bank of Ayudhya BAY.BK 3.5 percent lower and
Krung Thai Bank KTB.BK lost 2.9 percent.
Southeast Asian stocks are trading at a relatively high
forward price-to-earings ratio, led by Indonesia's 15.7,
against 13.1 for all of Asia, according to Thomson Reuters
Starmine.
* Singapore hits 28-month highs; fund buying seen
* Thai stocks off 14-year highs; late selling in banks
By Viparat Jantraprap
BANGKOK, Oct 4 (Reuters) - Most Southeast Asian stock
markets rose on Monday as positive spillover from a broad Asian
rally increased investor appetite in the region, with energy
shares a focus of buying interests amid high global oil prices.
Capital inflow helped boost share prices, outweighing a
prospect of slowing Southeast Asian economic growth and the
region's relatively high valuations.
Indonesia .JKSE and the Philippines .PSI set new
all-time highs on the day, adding 0.6 percent and 1.9 percent,
respectively. Singapore's Straits Times Index .FTSTI rose 0.9
percent to its highest level in 28 months.
"The development on the U.S. quantitative easing is really
important this week as without that the spree of funds flow
might begin to fade," said Bangkok-based KGI Securities
strategist Rakphong Chaisuparakul.
Asian stocks shot to a two-year high on Monday, boosted by
interest in emerging markets, while the dollar edged up after
last week's sell-off, though speculation the Federal Reserve
will add to money supply was still rife.
The MSCI index of Asia Pacific shares outside Japan
.MIAPJ0000PUS, which has risen for six consecutive weeks, was
up 0.7 percent at 1033 GMT, with the energy sector leading the
pack on the back of firm crude prices.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
For a graphic on market developments:
link.reuters.com/rem45n
For a comparison of global markets this year,
here
For Asian markets' performance, see:
here
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
Malaysia .KLSE was down 0.3 percent, earlier climbing
close to a 32-month high set in late September. Vietnam .VNI
fell 1.3 percent, its second straight session. Thailand .SETI
lost 1.5 percent, coming off a 14-year high hit in early trade.
Despite the loss, Thailand saw $118.3 million worth of net
share purchases by foreigners, the biggest daily net buying in
almost two weeks.
Manila recorded $69.4 million worth of inflow on the day,
its highest daily inflow in the past month, Indonesia had $59.7
million of net foreign buying, further extending strong inflows
seen in the third quarter, Thomson Reuters data showed.
Energy shares did well in the region, including Thailand's
top refinery Thai Oil Pcl TOP.BK rising 3.7 percent, hovering
around a two-year high, and Philippine energy producer Aboitiz
Power Corp (AP.PS), which gained 5.5 percent.
In Singapore, funds started their buying programme for the
fourth quarter, a dealer said. Southeast Asia's biggest bourse
by market capitalisation lagged most of its smaller peers in
the third quarter.
"Funds reestablished their positions at the start of the
quarter. Overall, there is more money in the region. Singapore
is among good spots given investors are less optimistic
elsewhere," a Singapore-based stock market dealer said.
In Bangkok, investors took profits in rallying banking
stocks, pulling Bank of Ayudhya BAY.BK 3.5 percent lower and
Krung Thai Bank KTB.BK lost 2.9 percent.
Southeast Asian stocks are trading at a relatively high
forward price-to-earings ratio, led by Indonesia's 15.7,
against 13.1 for all of Asia, according to Thomson Reuters
Starmine.
