SE Asia Stocks-Malaysia extends gain; Thai telecom stocks weak

Reuters

BANGKOK, Oct 24 (Reuters) - Southeast Asian stocks were

mixed on Thursday, with Malaysia eking out more gains to a

record high amid hopes about the country's fiscal deficit, while

the Thai index retreated as telecommunications stocks fell on

concerns over quarterly results.

Kaula Lumpur's composite index was up 0.3 percent at

1,819.81, building on Wednesday's rise that pushed the main

index to a record close of 1,814.11. Shares in Tenaga Nasional

was the most actively traded, climbing 1.6 percent.

Malaysian assets were relatively strong, including a rise in

the ringgit as some investors hoped the government may

deliver measures to improve the fiscal deficit.

The Thai index eased 0.2 percent at midday, led down

by shares in mobile phone operators including Advanced Info

Service as analysts forecast weak July-September

results due to traditionally low season for mobile use in

Thailand during the period.

Stocks in Singapore and Vietnam trimmed

earlier gains to trade nearly flat while Philippine shares

slid 0.7 percent as concerns over China weighed on

broader Asia.

Indonesian stocks were up 0.5 percent, after a 0.8

percent gain in the previous session.

Foreign investors bought back shares in the region on

Wednesday after recent withdrawals, with Indonesia booking $86

million of net foreign inflows after five sessions of outflows,

while the Philippines noted $4 million in inflows after three

days of outflows.

Navis Capital Partners, an investment firm based in Malaysia

mainly investing in Southeast Asian markets, said returns for

Southeast Asian equities continued to be driven by what was

going on in the United States.

"Outlook is positive for Southeast Asian equities as

continuing debt problems and nomination of supposedly dovish Ms.

Yellen may lead to looser monetary policies and weaker U.S.

dollar for longer than might otherwise have been the case," it

said.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0622 GMT

Market Current Prev Close Pct Move

TR SE Asia Index* 423.68 422.31 +0.33

Singapore 3206.21 3204.80 +0.04

Kuala Lumpur 1819.81 1814.11 +0.31

Bangkok 1454.79 1457.36 -0.18

Jakarta 4567.14 4546.49 +0.45

Manila 6591.13 6635.11 -0.66

Ho Chi Minh 504.89 504.05 +0.17

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