SE Asian stocks mostly up - Singapore, Indonesia lead. BANGKOK, Feb 2 (Reuters) - Southeast Asian stocks were mostly higher on Wednesday, with Singapore reaching a 53-month high and Indonesia hitting a record peak. STATS ChipPAC Ltd. rose 7.5 percent in Singapore after Citigroup Smith Barney upgraded its recommendation on the chip packager to "buy" from "hold", citing improving industry fundamentals and an attractive stock price. Singapore Telecommunications Ltd. fell 0.8 percent as investors cashed in on early gains after the stock rose to its highest in nearly four years ahead of its quarterly earnings report due on Thursday morning, analysts said. Southeast Asia's largest phone group is expected to post a 9 percent rise in net profit on robust regional mobile growth, analysts polled by Reuters said. Top auto retailer PT Astra International Tbk led the gains in Indonesia, rising 4.5 percent after subsidiary PT Astra Agro Lestari said late on Tuesday it doubled exports of crude palm oil in 2004. Singapore-listed Jardine Cycle & Carriage announced on Tuesday it had raised its stake in Astra to 47.47 percent from 47.43 percent. Singapore's benchmark index ended up 0.67 percent. Indonesia's index was up 0.5 percent at 1,052.825, having hit a record 1,058.766 in early trade. Malaysia's stock market rose 0.24 percent after being closed on Tuesday for a holiday. The key Philippine index fell 0.14 percent. Thailand was 0.23 percent higher, with top construction firm Italian-Thai Development PCL up 2.6 percent to a nine-month high. Brokers in Bangkok said property developers were in focus ahead of the country's Feb. 6 polls. Prime Minister Thaksin Shinawatra, who has promised increased infrastructure spending, is expected to win a second four-year term. In Kuala Lumpur, Malaysia International Shipping Corp. rose 2.6 percent after the company, the world's largest carrier of liquefied natural gas, announced late on Monday it had won a contract to operate a tanker facility for Murphy Sabah Oil Co. Ltd. In Manila, Bank of Philippine Islands, the second-largest lender, fell 0.9 percent as investors continued to cash in on recent gains in blue chips. Last week, the bank reported a lower-than-expected 18.2 percent rise in 2004 net profit after a 3.4 percent fall in fourth-quarter earnings. SOUTHEAST ASIAN STOCK MARKETS Change on the day at 0940 GMT Market Current Prev Close Pct Move Singapore 2108.69 2094.65 +0.67 Bangkok 710.33 708.73 +0.23 Manila 1989.65 1992.46 -0.14 Jakarta 1052.83 1047.53 +0.51 Kuala Lumpur 918.51 916.27 +0.24 Change on year Market Current End prev yr Pct Move Singapore 2108.69 2066.14 +2.06 Bangkok 710.33 668.10 +6.32 Manila 1989.65 1822.83 +9.15 Jakarta 1052.83 1000.23 +5.26 Kuala Lumpur 918.51 907.43 +1.22. (c) 2005 Reuters Limited . ------------------------ Yahoo! Groups Sponsor --------------------~--> What would our lives be like without music, dance, and theater? Donate or volunteer in the arts today at Network for Good! http://us.click.yahoo.com/Tcy2bD/SOnJAA/cosFAA/zMEolB/TM --------------------------------------------------------------------~-> ---------------------------------------------------------- IMQ - THE REAL TIME DATA AND BUSINESS NEWS SERVICE ---------------------------------------------------------- Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/obrolan-bandar/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
