SE Asia Stocks - Thai shares fall; Singapore, Vietnam range-bound

Tue Jul 29, 2014 2:27am EDT

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BANGKOK, July 29 (Reuters) - Stocks in Singapore and Vietnam
were range-bound on Tuesday, with the strength in Asian markets
lifting overall sentiment, while construction shares in Thailand
pulled down the main index as investors awaited details of the
government's infrastructure plan.
    Investors in Bangkok's SET index weighed in a possible delay
in the decision of the junta's investment plan for
infrastructure projects, which markets expect to be worth about
2.4 trillion baht ($75.47 billion) over seven years from 2015.
    The National Council for Peace and Order holds a weekly
meeting with key ministries, including the Ministry of
Transport, on Tuesday.
    The market saw a bout of selling in recent gainers such as
contractors Ch Karnchang, Italian Thai Development
 and Sino Thai Engineering and Construction.
    The SET index fell 0.5 percent, extending the falls
of the past two sessions. Developer Sansiri plunged 12
percent after announcing a rights issue, which would dilute the
existing share base. 
    Investors were expected to take a pause ahead of key
macroeconomic events in the United States, such as the meeting
of the Federal Reserve and GDP data, brokers said.
    "The Fed seems to be the most important this week. Market
may tread water until seeing the results," strategists at broker
KGI Securities wrote in a report.
    Fed officials could make subtle yet telling changes to their
policy statement this week, as they buy more time to evaluate
U.S. economic strength and plan how and when to eventually raise
interest rates. 
    Singapore's Straits Times Index edged higher,
resuming trade after a market holiday on Monday. 
    Vietnam's VN Index added 0.13 percent, with dairy
products maker Vinamilk rising after a dividend payment
plan. 
    Asian shares touched fresh three-year highs on Tuesday as
investors in the region drew encouragement from a rally in
Chinese markets, though caution was widespread given the torrent
of U.S. economic news still to come this week. 
    The Philippines and Malaysia are shut for a
market holiday, and will reopen on Wednesday. Indonesia is
closed through the week. 
        
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0520 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   444.27        444.76       -0.11
 Singapore          3356.74       3350.17       +0.19
 Bangkok            1530.56       1538.13       -0.49
 Ho Chi Minh         590.20        589.45       +0.13
 
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.    
($1 = 31.8000 Thai Baht)

 (Reporting by Viparat Jantraprap; Editing by Prateek
Chatterjee)
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