SE Asia Stocks-Mixed; Thai shares fall on political woes

Tue Feb 18, 2014 2:13am EST

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Feb 18 (Reuters) - Thai stocks fell on Tuesday from the
previous session's eight-week closing high on renewed political
unrest amid concerns over economic growth while other markets
were mixed, with Singapore being hit after China drained funds
for the first time in eight months.
    Thailand's SET index lost 1.1 percent by midday from
its highest close since Dec. 25, hit on Monday, with banks
leading the fall. The Thai market has seen a net outflow of
$897.9 million in the last 16 straight sessions through Monday.
    A Thai police officer was killed and dozens of police and
anti-government protesters were wounded in clashes in Bangkok on
Tuesday, officials and witnesses said. The unrest has already
hit the economy with data published on Monday showing the
economy grew just 0.6 percent in the fourth quarter from the
third. 
    "The adverse impact from the political situation likely
worsened further this quarter given the higher uncertainty after
elections and given that we do not expect a properly functioning
government to be in place for some time," Nomura said in a
research report. 
    Thailand's second-largest developer by market value, Pruksa
Real Estate Pcl, was down 2.5 percent after it said its
new house booking dropped as much as 30 percent in January as
potential buyers delayed purchases.
    Singapore shares were hit as investor appetite for
risky assets was dented after China's central bank drained funds
from the market on Tuesday as it strengthened its money
management strategy after unexpectedly strong credit growth in
January put downward pressure on rates. 
    Malaysian shares were down 0.2 percent.
    Bucking the trend, Indonesian stocks traded 0.2
percent up to an over 3-1/2-month high, while the Philippine
share index was 0.3 percent firmer and Vietnam's
benchmark VN Index gained 0.4 percent. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0635 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   392.63        394.92       -0.58
 Singapore          3069.15       3069.28        0.00
 Kuala Lumpur       1824.07       1827.48       -0.19
 Bangkok            1318.06       1332.37       -1.07   
 Jakarta            4562.68       4555.37       +0.16
 Manila             6186.05       6167.82       +0.30
 Ho Chi Minh         572.25        570.16       +0.36
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