SE Asia Stocks-Fall after U.S. data; Thai poll to be challenged

Tue Feb 4, 2014 1:29am EST

BANGKOK, Feb 4 (Reuters) - Southeast Asian stock markets
fell on Tuesday, tracking other regional bourses after
disappointing U.S. manufacturing data, while Thai shares gave up
recent gains as the Feb. 2 polls failed to resolve a political
deadlock.
    The Thai SET index had eased 1.2 percent to 1,277.47
by midday as lower-than-expected U.S. ISM manufacturing data
prompted quick profit-taking in shares such as Advanced Info
Service and Airports of Thailand.
    Traders said the sentiment remained weak due to risks
associated with Sunday's election as the opposition Democrat
Party said it will question the validity of the poll in the
Constitutional Court. 
    Maybank Kim Eng Securities said it expects the SET index to
fall to the 1,270 level later in the day. "We do not see any
exit for the political situation in the near term."
    Indonesia eased 0.6 percent, extending its Monday's
fall to a one-week low amid foreign selling. Bank Mandiri
 lost 1.4 percent, with foreign investors selling the
stock for a net 56 million rupiah ($4,600), Thomson Reuters data
showed.
    Singapore's Straits Times Index was down 0.8
percent at 2,967.36, hovering around its lowest since November
2012. MSCI's broadest index of Asia-Pacific shares outside Japan
 had fallen 1.4 percent by 0536 GMT.
    The next support for the index should be around 2,600,
broker NRA Capital said in a report. "There could be some light
bargain hunting given the pace of recent falls but we could
advise some nibbling instead as prices could still go cheaper."
    Shares in the Philippines dropped 1.8 percent to
three-week lows, led down by shares of Bank of the Philippine
Islands, while Malaysia was down 1.3 percent on
resuming trade after market holiday.
    Vietnam remained closed for the country's Lunar New Year
festival, reopening on Feb. 6. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0536 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   374.73        377.43       -0.72
 Singapore          2967.36       2990.95       -0.79
 Kuala Lumpur       1780.79       1804.03       -1.29
 Bangkok            1277.47       1292.81       -1.19
 Jakarta            4360.45       4386.26       -0.59
 Manila             5909.10       6015.30       -1.77