ASEAN KEY DESTINATIONS
A fall in the USA overnight will lead to additional profit taking in ASEAN on Thursday.
International demand in ASEAN Exchanges and upward revisions to GDP growth forecasts and the impact of AFTA have led to more earnings revisions, justifying higher market values.
The World Bank raised their forecast for economic growth in East Asia to reflect reviving global demand, sustained fiscal and monetary stimulus in the region and a rapid rebound in consumer spending.
Indonesia finished up 0.6 percent on Wednesday, hitting a record high of 2,916.11 intra-day, after the central bank kept their policy rate unchanged as expected. The most actively traded stocks, Bank Central Asia up 2.6 percent, Adaro Energy was up 2.4 percent and Unilever Indonesia added 2.03 percent.
Singapore added 0.4 percent to a 21-month high and Malaysia rose 0.05 percent, coming off its early gain to a 25-month high.
Thailand ended the day with a 0.55 percent gain, off early highs as political tension led to profit taking, but the Thai exchange is still hovering around 22-month highs. Thailand's finance minister said anti-government protests could delay an expected interest rate rise and might cause economic growth this year to be significantly worse than his ministry's forecast of 4.5 percent.
Energy and banks led gains in Bangkok, with the biggest energy firm PTT rising 2.2 percent, Krung Thai Bank KTB up 7.03 percent and Kasikornbank jumping 4.9 percent on their upbeat loan growth forecasts In Singapore, commodities firms were active, Wilmar International gaining 0.4 percent, Olam International climbing 4.6 percent and Noble Group up 0.9 percent as it offered to buy out Australia's Gloucestor Coal .
In Kuala Lumpur, Tenaga Nasional and Petronas each gained over 1 percent.
The Philippine index gained 0.5 percent to hit a 26-month high, led by a 3.8 percent rise in property developer Ayala Land and a 2.2 percent gain in conglomerate Ayala Corp. . Analysts said foreigners are mostly focusing on diversified conglomerate shares. They bought a net 6.8 billion pesos ($152 million) of shares in the first quarter after being net sellers for the past two years.
Vietnam .VNI rose for a fifth session, adding 0.1 percent, led by 4.8 percent gain in rubber producer Phuruco PHR.
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