July 31, 2014 / 11:11 AM / 3 years ago

SE Asia Stocks -Thai shares near 4-wk lows; Philippine marginally down

BANGKOK, July 31 (Reuters) - Thai shares fell to their
lowest closing level in almost four weeks on Thursday amid a
fall in the local currency and late selloffs in energy stocks,
while the Philippine index erased early gains due to foreign-led
selling and before the central bank's interest rate decision.
    The SET index closed down 1.1 percent, trimming its
gain on the month to 1.1 percent. Shares of the country's top
two energy firms, PTT and PTT Exploration and
Production, fell more than 2 percent each.
    "We had a bit of negative sentiment building up late in the
day, including a weaker baht and selling in energy shares
related to global oil prices," said Koraphat Vorachet, a
strategist with Nomura Pattanasin, as brent crude slipped below
$106 a barrel. 
    The baht led daily losses among emerging Asian
currencies on renewed worries about a recession in the second
quarter while the Bank of Thailand insisted that economic
activity "likely" picked up in the quarter. 
    The Philippine index eased 0.04 percent after an
early modest rise and a net foreign selling worth 229 million
pesos ($5.25 million), stock exchange data showed.
    It posted a 0.3 percent gain on the month, among the
region's worst performers.
    Interest rate-sensitive stocks had a mixed performance, with
property firm Ayala Land up 0.5 percent, Metropolitan
Bank and Trust rising 0.8 percent and Bank of the
Philippine Islands down 0.5 percent.
    The Philippine central bank raised its main interest rate on
Thursday for the first time in three years to tame price
pressures and left the door open for further tightening, saying
its inflation targets for this year and next were "at
    The announcement came after market hours.
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 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   440.16        442.62       -0.57
 Singapore          3374.06       3353.65       +0.61
 Kuala Lumpur       1871.36       1878.34       -0.37
 Bangkok            1502.39       1518.79       -1.08
 Manila             6864.82       6867.59       -0.04
 Ho Chi Minh         596.07        589.33       +1.14
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   440.16        388.37      +13.34
 Singapore          3374.06       3167.43       +6.52
 Kuala Lumpur       1871.36       1866.96       +0.24
 Bangkok            1502.39       1298.71      +15.68
 Jakarta               --         4274.18      +19.06
 Manila             6864.82       5889.83      +16.60
 Ho Chi Minh         596.07        504.63      +16.78
* 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 = 43.6200 Philippine Pesos)

 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)

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