March 14, 2014 / 7:37 AM / in 4 years

SE Asia Stocks-Most fall; Singapore's Olam rises after Temasek offer

BANGKOK, March 14 (Reuters) - Southeast Asian stocks were
mostly weaker on Friday as investors cut riskier holdings amid
fears of heightened tensions in Ukraine, but Singapore's Olam
International jumped after a Temasek Holdings-led
shareholders group offered to buy all of its shares.
    Shares of commodity trading firm Olam were up 11.3 percent,
the top percentage gainer on Singapore's benchmark Straits Times
Index, which was down 0.5 percent. 
    The index is set to decline 2.2 percent on the week, its
first fall in five weeks and underperforming regional peers.
    Across exchanges, players appeared content to stay on the
sidelines and took profits ahead of the weekend, amid concerns
about a slowdown in China after weaker-than-expected industrial
output growth and retail sales data. 
    Indonesia's main index was down 0.8 percent at the
midday trading break, erasing most of its gain so far on the
week. The Philippine index eased 0.9 percent, on track
for a weekly loss of 1.6 percent after four weeks of gains.
    The Thai SET index was down 0.4 percent at midday,
trimming its gain on the week to 0.7 percent. The Bank of
Thailand's interest rate cut and a possible removal of the
emergency decree bolstered Thai market sentiment this week.
    "The optimism about the Emergency Decree lift appears to set
the positive tone to the trading sentiment in the near term
while macroeconomy turns in uncertainty," strategists at broker
Phillip Securities wrote in a report. 
    Shares of telecoms firm True Corporation eased 0.7
percent. It rose to a seven-week high on Thursday after foreign
investors bought the stock via a block trade worth a net 2.4
billion baht ($74.34 million).  
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 Change at 0715 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   400.73        403.71       -0.74
 Singapore          3066.92       3081.39       -0.47
 Kuala Lumpur       1809.18       1818.86       -0.53
 Bangkok            1364.58       1370.50       -0.43
 Jakarta            4690.53       4726.17       -0.75
 Manila             6377.86       6429.79       -0.81
 Ho Chi Minh         596.05        595.22       +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.
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