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SE Asia Stocks-Most weak; Thai shares up amid political protests
January 14, 2014 / 5:15 AM / 4 years ago

SE Asia Stocks-Most weak; Thai shares up amid political protests

BANGKOK, Jan 14 (Reuters) - Thai shares eked out slim gains
on Tuesday, helped by selective buying in a reporting season,
while most others in Southeast Asia were weaker to flat as Asian
markets came under pressure amid concerns about the U.S. growth
outlook.
    The Thai SET index was up 0.3 percent after a rally
of more than 2 percent on Monday. Trading volume remained thin
with about 1.5 million shares changing hands, 0.3 times the
full-day average over the past 30 sessions.
    Investors, in large part, stayed on the sidelines amid
anti-government protests in Bangkok, calling for Prime Minister
Yingluck Shinawatra and her cabinet ministers to step down to
pave the way for national reform.
    Protesters said they would tighten the blockade around
ministries on Tuesday and a hardline faction threatened to storm
the stock exchange, while many major intersections in the
capital Bangkok remained blocked. 
    Short-term traders would be in the market while
profit-booking would limit any strong upside, brokers said.
    Technically, the critical level of the benchmark is seen
around 1,270, strategists with brokerage Krungsri Securities
wrote in a report.
    "We would buy first-tier stocks on a move around this level
on expectation of continued index upside to 1,270-1,320. On the
other hand, we would take profit on a fall below 1,270 as
downside is indicated to the next support at 1,245," they wrote.
    Among gainers, shares of Siam Cement rose almost 1
percent, hovering around their highest level in more than one
week, ahead of the company's fourth-quarter results towards the
end of this month.
    Investors sold recent gainers such as Kasikornbank 
after a strong rise on Monday when the Thai bourse saw a net
foreign buying of $57 million, taking the total so far in the
month to $146 million, data showed. 
    Singapore's Straits Times Index edged down 0.4
percent and the Philippine main index was lower 0.1
percent as MSCI's broadest index of Asia-Pacific shares outside
Japan slipped 0.5 percent. 
    The Vietnam index edged up 0.3 percent to its highest in
seven months, led by a 7 percent jump in Southern Seed Corp
, the top percentage gainer.
    Malaysia and Indonesia are shut for a public
holiday.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0419 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   387.06        387.36       -0.08
 Singapore          3121.20       3135.49       -0.46
 Bangkok            1286.79       1283.56       +0.25
 Manila             5935.68       5940.67       -0.08
 Ho Chi Minh         522.72        521.11       +0.31

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