BANGKOK, Feb 12 — Thai stocks climbed 1.4 per cent today amid a rise in the baht and decent quarterly earnings by large caps, while others in Southeast Asia edged higher after China trade data and an optimistic economic outlook from the US Federal Reserve chief.

Thai key SET index closed at 1,314.06, the highest since January 24, also helped by technical-led buying above 1,300 mark. Telecommunications company Advanced Info Service jumped 2.4 per cent following a rise in quarterly earnings.

“Investors have looked for an entry point on Thai stocks and so, the strong baht and a buying signal above 1,300 helped attract them today,” said Teerawut Kanniphakul, a senior analyst at CIMB Securities.

Thai baht traded around 32.56 against the dollar, up around 0.6 per cent from the previous session, in line with gains in Asian currency.

The domestic political risks would limit any near-term rally, brokers said, as investors awaited a coming court ruling on the case lodged by protesters seeking to have the emergency decree withdrawn.

Malaysia pared early losses and closed up 0.1 per cent.

Malaysia’s economy grew 5.1 per cent in the fourth quarter, its fastest pace in a year and beating the forecast of 4.8 per cent, supported by firm domestic demand and improving exports. The data came after market close today.

Stocks in Singapore ended up 0.2 per cent at a two-week closing high, with Indonesia, the Philippines and Vietnam all higher as China’s solid trade data boosted sentiment of Southeast Asian exporting countries.

China’s exports handily beat expectations in January, rising 10.6 per cent from a year earlier, while imports jumped 10 per cent, leaving the country with a trade surplus of US$31.9 billion (RM106 billion) for the month, the Customs Administration said today.

Janet Yellen, fresh from taking the helm of the Federal Reserve, made it clear yesterday she would not make any abrupt changes to US monetary policy, saying the central bank was on track to keep reducing its stimulus even though the labour market recovery was far from complete. — Reuters