May 15, 2014 / 6:00 AM / 4 years ago

SE Asia Stocks -Mixed; Thai shares ease after violence in Bangkok

BANGKOK, May 15 (Reuters) - Thai shares eased on Thursday as
increased violence in Bangkok spooked investors while shares in
Vietnam recovered further from recent losses though spreading
anti-China riots limited market gains. 
    Selling in shares of large caps such as Advanced Info
Service pulled the key SET index down 0.14
percent near midday but some mid caps, including Bumrungrad
Hospital, jumped after they were added to the MSCI
Thailand index from May 30. 
    Unidentified gunmen attacked anti-government protesters in
the Thai capital early on Thursday, killing two people and
injuring at least 21 as Thailand's rival political factions
squared off over who should be prime minister. 
    Brokers say they expect market weakness in the near term due
to the unclear political situation.
    "Investors monitor the Thai Senate's meetings with various
agencies to bring the country out of the political turmoil,
while the chance of elections being held in the third quarter
remains slim," strategists at KGI securities said in a report.
    The escalation of political tensions has boded ill for Thai
stocks and other financial assets, including bonds this year.
    Thai stocks have recorded a net outflow of 6.6 billion baht
($203.48 million) so far this year while the bond market saw
selling worth about a net 5 billion baht ($154.15 million) in
the year to April, Thomson Reuters data and a Thai Bond Market
Associations report showed. 
    Vietnam's benchmark index was up 1 percent. It rose 3
percent on Wednesday after a steep loss since April 25 sent the
index to its lowest in more than four months early this week.
    Singapore's was range-bound, with gains in banking
stocks such as DBS Group Holding offsetting losses in
some large caps. Singapore Telecommunications Ltd 
shares fell after the company reported a modest rise in
fourth-quarter earnings. 
    Stocks in Malaysia and the Philippines held in the negative
territory as Asian shares stepped back from a one-month high
after a retreat on Wall Street. 
    Indonesia is shut for a market holiday, and will
reopen on Friday. It hit an 11-month high on Wednesday as
chances of a win for a popular presidential candidate increased
ahead of a July election. 
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 Change at 0514 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   422.95        423.87       -0.22
 Singapore          3265.04       3259.09       +0.18
 Kuala Lumpur       1878.26       1879.20       +0.05
 Bangkok            1394.06       1396.03       -0.14
 Manila             6861.92       6880.44       -0.27
 Ho Chi Minh         534.77        529.53       +0.99
 * 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 = 32.4350 Thai Baht)

 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
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