July 22, 2014 / 10:51 AM / 4 years ago

REFILE-SE Asia Stocks -Indonesia shares snap gains; election result awaited

(Refiles to add "SE" before Asia in headline)
    BANGKOK, July 22 (Reuters) - Indonesian shares snapped two
days of gains and fell on Tuesday amid worries about potential
unrest over the presidential election result while the Thai
index hit a near two-week low on selling in telecoms and
construction shares.
    The likely loser in Indonesia's presidential race made a
last-gasp attempt to delay the announcement of the official
election results on Tuesday, expected to declare Jakarta
Governor Joko "Jokowi" Widodo as the nation's next leader.
    Former general Prabowo Subianto withdrew his presidential
candidacy after denouncing the election process as undemocratic,
an official from his party said on Tuesday. 
    "The presidential race was tight and Prabowo finished a
press conference, stating that he rejected the presidential
election," said Jakarta-based John Teja, director of broker
Ciptadana Securities.
    Jakarta's composite index fell as much as 2.2
percent to the lowest since July 14. It closed down 0.9 percent
after notching a combined 1.1 percent gain over the past two 
    Domestic investors led sellers of shares in large cap
companies such as Telekomunikasi Indonesia. The market
posted a modest net foreign buying worth 6.0 billion rupiah
($518,200) after Monday's 22.8 billion rupiah ($1.97 million) of
outflows, Thomson Reuters data showed. 
    The Thai index was down 1.2 percent at 1,520.81, the
lowest since July 10.
    Shares of top telecom firm Advanced Info Service 
slid 3.7 percent, taking its loss in three days to almost 9
percent, after the military government postponed last week an
auction of fourth generation (4G) mobile phone bandwidth.
    Shares of Ch Karnchang and other builders suffered
late selling after the government said its meeting earlier on
the day did not discuss infrastructure investments as investors
earlier expected.
    Elsewhere, the Philippine index edged slightly lower
due to foreign outflows in big caps including Alliance Global
Group, stock exchange data showed.

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 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   441.95        443.51       -0.35
 Singapore          3316.91       3314.27       +0.08
 Kuala Lumpur       1871.36       1868.64       +0.15
 Bangkok            1520.81       1538.55       -1.15
 Jakarta            5083.52       5127.12       -0.85
 Manila             6869.94       6874.88       -0.07
 Ho Chi Minh         597.98        601.04       -0.51
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   441.95        388.37      +13.80
 Singapore          3316.91       3167.43       +4.72
 Kuala Lumpur       1871.36       1866.96       +0.24
 Bangkok            1520.81       1298.71      +17.10
 Jakarta            5083.52       4274.18      +18.94
 Manila             6869.94       5889.83      +16.64
 Ho Chi Minh         597.98        504.63      +18.50
* 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 = 11590.0000 Rupiahs)

 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
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