July 28, 2014 / 8:22 AM / 3 years ago

SE Asia Stocks - Fall amid weak data, regional holidays

BANGKOK, July 28 (Reuters) - Stocks in Thailand, the
Philippines and Vietnam fell on Monday amid holidays in
Southeast Asia, with tepid economic data keeping appetite for
risk assets in check.
    The Thai SET index snapped a two-day rising streak
to edge down 0.5 percent, with investors selling recent gainers
such as large-cap banks.
    Thailand's exports in June improved but imports tumbled
sharply, highlighting the challenges faced by the military
government as it tries to get economic growth back on track.
    Exports grew 3.9 percent from a year earlier, stronger than
expectations in a Reuters poll of economists for a 3.1 percent
gain. But the growth rate was well below the 7.2 percent
indicated by a senior commerce ministry official on Friday.
    "This week, in our view, will be highly volatile. Market
valuations are high and require upbeat macro figures and
earnings to significantly extend recent gains," broker KGI
Securities said in a report.
    Midcap stocks bucked the trend, with shares of cement firm
TPI Polene surging 11.5 percent after it told the
exchange late on Friday of its stock-split plan.
    Shares of chicken exporter GFPT jumped 6.3 percent
after McDonald's Holdings Co (Japan) said it planned to
halt all imports of chicken products from China and shift that
business to Thailand. 
    The Philippine index slipped 0.5 percent amid active
selling in large-caps. Alliance Global Group shares
dropped 3.7 percent to their lowest since mid-June, while
Megaworld Corp was down 2.7 percent to a near
four-month low.
    The Philippines' Department of Finance released on Thursday
fiscal data that showed the country's budget swung back to
deficit in June. 
    Vietnam's benchmark VN Index dropped 1.5 percent on
widespread selling and further declines were expected in coming
    In Asia, stocks shrugged off a drop in Wall Street and hit a
three-year high on Monday, with China taking the lead after data
showed a robust jump in profits earned by industrial firms in
the world's second-largest economy. 
    Singapore and Malaysia were closed on Monday. The
Philippines will be closed on Tuesday, as will Malaysia. The
Indonesian market will be closed for the entire week.
For Asian Companies click;  
For South East Asia Hot Stock reports, click;

 Change at 0733 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   444.63        445.57       -0.21
 Bangkok            1536.92       1543.85       -0.45
 Manila             6850.47       6889.55       -0.57
 Ho Chi Minh         591.01        600.14       -1.52
 * 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; Additional reporting by Hanoi
bureau; Editing by Prateek Chatterjee)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below