April 25, 2014 / 11:07 AM / in 4 years

SE Asia Stocks-Most down; Politics weighs in Thailand

HANOI, April 25 (Reuters) - 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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 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)
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