Reuters logo
SE Asia Stocks-Most indexes up; Thai SET breaks below 1,300 amid turmoil
December 27, 2013 / 6:16 AM / 4 years ago

SE Asia Stocks-Most indexes up; Thai SET breaks below 1,300 amid turmoil

BANGKOK, Dec 27 (Reuters) - Thai stocks underperformed in
Southeast Asia on Friday as investors dumped shares on the final
trading day of the year amid mounting political uncertainty and
a proposed delay in February elections which the government has
rejected.
    Other share markets rose in a thin market, with Asian shares
notching up gains after another powerful performance by Wall
Street. Shares in Malaysia led the pack, with the key index
 climbing 0.9 percent to 1,859.91, a record high.
    Thai benchmark SET index shed 1.3 percent by midday
to 1291.34, sliding at one point to 1,288.02, the lowest since
Aug. 30. Shares of mall operator Central Pattana Pcl 
and hotelier Minor International Pcl were among
losers. 
    Trading volumes on the Thai stock market dropped off as
investors stayed on the sidelines ahead of a five-day weekend.
The market will reopen on Dec. 2.
    The index is poised to end the year 7.23 percent lower,
underperforming its regional peers and the third-worst performer
in Asia. It rallied 35.8 percent last year, Southeast Asia's
best performer.
    Brokers said the political conflicts pointed to near-term
weakness.
    "We believe the overhang will persist in January given a
significantly different stance between the government and
protesters," strategists of broker KGI Securities wrote in a
report.
    The baht traded in 32.76-32.82 range against the
dollar so far on the day, in sight of the weakest level since
March 2010, amid a drop in factory output in November.
 
    Stocks in Singapore rose 0.5 percent to their
highest in more than three weeks, while Indonesia was up
0.4 percent on resuming trade after holidays. Vietnam 
rose 0.56 percent due to gains in blue chips. 
    Philippine shares edged up 0.5 percent, on track for
a slim gain of 1.6 percent for 2013, after a nearly 33 percent
surge in 2012. The Philippines is heading for a five-day
weekend, resuming on Dec. 2.
    
For Asian Companies click;  
For South East Asia Hot Stock reports, click;
   

SOUTHEAST ASIAN STOCK MARKETS
 Change at 0549 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   384.91        384.64       +0.07
 Singapore          3151.80       3134.36       +0.56
 Kuala Lumpur       1859.91       1844.10       +0.86
 Bangkok            1291.34       1308.46       -1.31
 Jakarta            4218.20       4202.83       +0.37
 Manila             5903.27       5878.32       +0.42
 Ho Chi Minh         509.40        506.55       +0.56

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below