SE Asia StocksMost rise on strong earnings; Thai index down

SE Asia StocksMost rise on strong earnings; Thai index down
Business & Markets 2013
Written by Reuters
Wednesday, 17 April 2013 20:04


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BANGKOK, April 17 (Reuters) - Most Southeast Asian stocks
gained on Wednesday with Malaysia and Indonesia hitting a new
high on strong earnings, but Thai stocks underperformed due to
selling in energy shares.

Kuala Lumpur's Composite Index rose 0.6 percent to
close at a record high of 1,710.97. Jakarta's Composite Index
extended its gain for a second session, climbing 1.1
percent to 4,998.65, above a record 4,981.46 set on April 3.

Shares in power utility TENAGA NASIONAL BHD [], the
most actively traded on Malaysian bourse, jumped 3.9 percent
ahead of its results due on Thursday.

Indonesia's telecom provider PT Telekomunikasi Indonesia
rose as much as 6.4 percent after its mobile unit
posted strong quarterly results.

In Singapore, shares of Singapore Exchange Ltd
outperformed the broader market, climbing 1.2 percent
after it posted its largest quarterly profit since the 2008
financial crisis.

Thai SET index fell 0.4 percent to 1,521.53. Energy
shares dropped 1.4 percent as falling global oil prices
concerned investors of possible weak earnings for April-June
quarter, a strategist at Tisco Securities said.