BANGKOK, May 10 (Reuters) - Major Southeast Asian stocks
edged up on Friday, with Malaysian index notching up its best
week since July 2009 following the weekend general election and
Indonesian benchmark index closing the week at an all-time high
amid selective buying.
Gains in banks such as Malayan Banking Bhd and
AMMB Holdings Bhd helped Kuala Lumpur's Composite
Index reverse recent losses and end up 0.36 percent for
the day. It gained 4.6 percent in the week, the region's best
performer.
The general election that eased political concerns pushed
the Malaysian index to a record close of 1,776.73 on Tuesday but
it fell back mildly in two successive sessions after some
political trouble.
Jakarta's Composite Index gained 0.33 percent to
5,105.94, topping Wednesday's record close, with a weekly gain
of 3.7 percent, the second best.
Citi Research maintained its JCI target of 5,300 and was
positive on property, cement, consumer and media sectors, it
said in a report dated May 9. Among its top picks, shares in
Semen Indonesia rose 2.2 percent on Friday.
"Our index target remains 5,300, based on a bottom-up
approach, with a future fuel price hike (currently postponed) a
medium- to longer-term catalyst given its likely positive impact
on the current-account deficit and government infra spending,"
it said.
Across the region, investors picked large caps such as
Philippine Ayala Land Inc and Singapore bank DBS Group
Holdings Ltd in an ongoing reporting season, with
most sharemarkets marking a strong gain for the week.
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 450.65 452.19 -0.34
Singapore 3443.77 3432.78 +0.32
Kuala Lumpur 1772.38 1776.07 +0.36
Bangkok 1622.48 1621.12 +0.08
Jakarta 5105.94 5089.33 +0.33
Manila 7262.38 7194.43 +0.94
Ho Chi Minh 486.10 486.22 -0.02
Change on year
Market Current End prev yr Pct Move
TR SE Asia Index* 450.65 424.10 +6.26
Singapore 3443.77 3167.08 +8.74
Kuala Lumpur 1772.38 1688.95 +4.94
Bangkok 1622.48 1391.93 +16.56
Jakarta 5105.94 4316.69 +18.28
Manila 7262.38 5812.73 +24.94
Ho Chi Minh 486.10 413.73 +17.49
* 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 334,580,800 272,313,503
Kuala Lumpur 208,413,900 178,736,647
Bangkok 10,515,347 11,690,642
Jakarta 3,995,448,500 4,679,059,083
Manila 92,735 94,537
Ho Chi Minh 85,570 48,796
