SE Asia Stocks-Thai shares slip; weak factory output, poll date weigh

Tue Jan 28, 2014 1:25am EST

BANGKOK, Jan 28 (Reuters) - Thai stocks slipped to near
two-week lows on Tuesday after factory output for December
dropped more than expected amid domestic political tensions
while most markets in Southeast Asia rebounded after recent
falls.
    The Thai benchmark SET index was down 0.5 percent at
1,282.13, having hit 1,274.61, the lowest since Jan. 15. Shares
of airport operator Airports of Thailand and telecoms
firm Advanced Info Service were among those actively
traded.
    Industrial output fell 6.17 percent in December from a year
earlier, making a ninth straight month of decline, adding to
worry that the country's protracted political turmoil is hitting
confidence and this year's economic outlook. 
    Trading volume was 0.4 times the full day average over the
past 30 sessions as investors awaited a conclusion between
caretaker Prime Minister Yingluck Shinawatra and the election
commission on the rescheduling of the Feb. 2 election expected
later in the day. 
    Support for the SET index was seen at 1,270, said Maybank
Kim Eng Securities.
    "If the election is maintained on Feb. 2, a 70 percent
chance, the SET will likely contract," it said in a daily note
to clients.
    The Indonesian index rose 0.7 percent after a nearly
4 percent drop on Monday and Friday as concerns about the
slowing Chinese economy and expectations the U.S. Federal
Reserve will scale back its bond buying further put pressure on
risk assets.
    The Fed starts its two-day policy meeting on Tuesday.
    Singapore was up 0.2 percent and Malaysia 
rose 0.3 percent, both regaining some of their more than 2
percent losses over the past four sessions.
    Philippine shares bucked the trend, dropping 0.6
percent after Monday's 1.8 percent fall while Asian stock
markets were weaker, with MSCI's broadest index of Asia-Pacific
shares outside Japan easing 0.07 percent.
 
    Vietnam's stock market is closed from Tuesday to Feb. 5 for
the country's Lunar New Year festival. Vietnamese shares 
have risen 10.5 percent so far this year, among Asia's
outperformers. 
    
For Asian Companies click;  
For South East Asia Hot Stock reports, click;
   

SOUTHEAST ASIAN STOCK MARKETS
 Change at 0543 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   377.56        377.07       +0.13
 Singapore          3048.19       3042.43       +0.19
 Kuala Lumpur       1784.65       1778.88       +0.32
 Bangkok            1282.13       1288.59       -0.50
 Jakarta            4353.33       4322.78       +0.71
 Manila             6036.50       6081.61       -0.74
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.