BANGKOK, April 2 (Reuters) - Malaysian stocks climbed 1.04
percent on Tuesday, outperforming other Southeast Asian stocks,
amid expectations of a likely removal of political overhang,
while Philippine shares fell for a second day as investors
booked profits after the recent rally in large caps.
Kuala Lumpur's Composite Index closed at 1,685, the
highest since January 15, with trading volumes more than double
the 30-day average. It was among Asia's worst performers this
year as election-related risks worried domestic investors.
Banks were among actively traded stocks, with Malayan
Banking Bhd up 1.2 percent and CIMB Group Holdings Bhd
up 0.9 percent.
Nomura Equity Research upgraded Malaysia banks to
'overweight', citing their underperformance compared with other
banks in the Southeast Asian region and a likely removal of
political overhang post the upcoming elections.
Malaysian Prime Minister Najib Razak announced bonuses for
the 40,000 employees of national oil firm Petronas, signalling a
long wait for a general election is nearly over as he seeks
last-minute support from the middle class.
Foreign investors bought a net 428.15 million ringgit
($138.39 million) in Malaysian stocks, the bourse data showed,
extending buying in April to a second straight session and after
buying shares worth $2.9 billion in the first quarter.
Philippine index fell 1.3 percent to 6,748.43.
Shares in SM Investments Corp, the biggest company
by market value, dropped 1.7 percent after an 8.4 percent rally
over the past two sessions when investors built up positions in
large caps after Fitch Ratings upgraded the country's sovereign
rating to investment grade.
After a rangebound session, Singapore's Straits Times Index
edged up 0.3 percent while Thai SET index ended
nearly unchanged. Jakarta's Composite Index rose 0.4
percent to a new record close of 4,957.25.
Vietnam's benchmark Ho Chi Minh Stock Exchange VN Index
rose for the third consecutive day, up 0.7 percent as
domestic and foreign funds bought blue chips on solid earnings
and in hopes of lower lending rates.
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 445.49 444.03 +0.33
Singapore 3317.59 3307.58 +0.30
Kuala Lumpur 1685.00 1667.61 +1.04
Bangkok 1550.54 1549.55 +0.06
Jakarta 4957.25 4937.57 +0.40
Manila 6748.43 6839.59 -1.33
Ho Chi Minh 509.43 505.81 +0.72
Change on year
Market Current End prev yr Pct Move
TR SE Asia Index* 445.49 424.10 +5.04
Singapore 3317.59 3167.08 +4.75
Kuala Lumpur 1685.00 1688.95 -0.23
Bangkok 1550.54 1391.93 +11.39
Jakarta 4957.25 4316.69 +14.84
Manila 6748.43 5812.73 +16.10
Ho Chi Minh 509.43 413.73 +23.13
* 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 240,600,300 272,313,503
Kuala Lumpur 184,673,700 164,243,133
Bangkok 14,121,504 17,256,190
Jakarta 7,974,907,000 6,308,363,917
Manila 80,152 135,693
Ho Chi Minh 70,264 59,595
