May 26, 2014 / 6:57 AM / 4 years ago

SE Asia Stocks - Most weak; PTT leads Thai shares lower

BANGKOK, May 26 (Reuters) - Thai stocks eased on Monday, led
down by large caps including top energy firm PTT, while
other Southeast Asian stock markets were range-bound, tracking
broader Asia. 
    The Thai SET index was down 0.5 percent at midday,
with shares of PTT falling 2.6 percent amid concerns about more
foreign selling of large-cap shares. Investors were also
cautious about possible reforms in the energy sector and
potential changes to the board of state-controlled PTT.
    But builders, such as Ch Karnchang, rose amid hopes
the military government would speed up disbursements for
infrastructure projects. 
    Jakarta's Composite Index edged lower as investors
took profits in shares such as Bank Rakyat Indonesia 
and Bank Mandiri.
    Uncertainty over the outcome of Indonesia's upcoming
presidential election has prompted selling in stocks, though the
index has risen more than 16 percent rise so far this year,
making it Asia's second-best performer after India's BSE index
    The Philippine main index fell 0.4 percent, extending
Friday's fall, amid active selling in shares of Universal Robina
Corp and Metropolitan Bank & Trust.
    Philippine shares have gained about 15.1 percent this year,
Asia's third best, thanks to the country's economic performance.
    The Philippine economy is expected to have sustained a
strong pace of growth in the first three months of the year, a
Reuters poll showed on Monday, underpinned by robust private
consumption and state spending on typhoon rebuilding.
    Vietnam's benchmark VN Index edged up 0.2 percent,
buoyed by moderate purchases from investors who expect Vietnam's
economic outlook to be stable. 
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 Change at 0604 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   421.21        421.82       -0.15
 Singapore          3282.03       3278.02       +0.12
 Kuala Lumpur       1864.29       1869.22       -0.26
 Bangkok            1389.35       1396.84       -0.54
 Jakarta            4962.66       4973.06       -0.21
 Manila             6777.17       6811.33       -0.50
 Ho Chi Minh         542.27        541.49       +0.14
 * 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 Viparat Jantraprap; Editing by Prateek

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