HANOI, April 25 Most Southeast Asian stocks fell
on Friday, with political uncertainty driving Thai equities down
and profit-taking stretching losses to a third day in the
Bangkok's SET Index lost 1.02 percent, its biggest
drop in six weeks, as fears mount that the country's lengthy
political crisis could move into a more violent phase as the
Thai government was to ask the army to deploy more troops in the
Siam Cement PCL was the biggest loser, with its
shares tumbling 3.14 percent, followed by Kasikornbank PCL
which fell 2.61 percent.
Investors on the Philippine bourse secured profits from
recent rallies, dragging the benchmark down 1.5 percent over
three straight sessions.
The Philippine SE Composite Index has faced some
strong selling pressure around its resistance level of 6,800
while upside momentum has slowed down, said market strategist
Manny Cruz at Asiasec Equities.
The index lost 0.69 percent to close at 6685.1, trimming its
gain of as much as 13.6 percent since early February.
"We are looking at a week or two for the market to shed some
more," Manny added.
Stocks in Malaysia and Singapore also lost
ground on Friday, while Indonesia's Jakarta SE Composite Index
bucked the trend to edge up 0.13 percent.
Vietnam rose 1.5 percent, but thin trade and lack of
supportive news could pull the index down soon, analysts said.
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 419.59 421.03 -0.34
Singapore 3267.57 3283.93 -0.50
Kuala Lumpur 1860.98 1865.28 -0.23
Bangkok 1408.16 1422.67 -1.02
Jakarta 4897.64 4891.08 +0.13
Manila 6685.10 6731.33 -0.69
Ho Chi Minh 578.92 570.46 +1.48
Change on year
Market Current End 2013 Pct Move
TR SE Asia Index* 419.59 388.37 +8.04
Singapore 3267.57 3167.43 +3.16
Kuala Lumpur 1860.98 1866.96 -0.32
Bangkok 1408.16 1298.71 +8.43
Jakarta 4897.64 4274.18 +14.59
Manila 6685.10 5889.83 +13.50
Ho Chi Minh 578.92 504.63 +14.72
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
(Reporting by Mai Nguyen; Editing by Anupama Dwivedi)