SE Asia Stocks-Thai shares weak after more violence; Indonesia falls

miércoles 26 de febrero de 2014 02:55 GYT

BANGKOK, Feb 26 (Reuters) - Thai stocks pared early gains on
Wednesday as investors were wary of more violence in Bangkok,
while Indonesian shares extended their slide to the lowest in
more than one week as profit-taking derailed one of Asia's
outperformers this year.
    Other markets in Southeast Asia took a breather, with
Singapore and Malaysia slipping after recent 
gains, while Philippines edged up amid sluggish Asian
shares and a flat finish on Wall Street. 
    Bangkok's SET index was unchanged at 1,303.76 at
midday, coming off an intraday high of 1,307.53. Shares of
Advanced Info Service erased early gains amid a call
by anti-government protesters to boycott businesses linked to
Prime Minister Yingluck Shinawatra. 
    Shots fired by unknown gunmen on Wednesday rattled parts of
the Thai capital where anti-government protesters have set up
camp for weeks, with small but occasionally deadly bombs and
gunfire fast becoming the new norm in the city. 
    Shares of banks which announced attractive dividend payouts
were among the bright spots, with Siam Commercial Bank 
rising more than 1 percent.
    Phillip Securities sees resistance for the index at 1,310.
    "Political worries would continue to keep a lid on the
market's upside potential and take a bigger bite into economic
fundamentals," the broker said in a report.
    Jakarta's composite index edged down 0.5 percent,
adding to the falls on Monday and Tuesday, with shares of
companies that recently rallied, such as Kalbe Farma,
losing on more profit-taking. Kalbe was among the companies that
benefit from the rupiah, which has been the best-performing
Asian currency so far this year.
    The index has risen 11.2 percent in U.S. dollar terms
year-to-date, and has been Asia's second-best performer,
according to Thomson Reuters data. The Indonesian bourse has
brought in net foreign inflows of about $880 million this year,
regaining some of the outflows of $1.77 billion in 2013.
    Trimegah Securities expects the market to fall to 4,502
levels from the current 4,556.77.
    "With continuous pressure stemming from the regional market
correction, we expect JCI to move downward today," the broker
said in a report.
    In Hanoi, Vietnam's benchmark VN Index edged down 0.5
percent as investors sold stocks for quick profits. It has risen
15.8 percent in dollar terms this year and has been Asia's best

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 Change at 0623 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   394.55        394.98       -0.11
 Singapore          3083.45       3103.62       -0.65
 Kuala Lumpur       1827.75       1833.75       -0.33
 Bangkok            1303.76       1303.88       -0.01
 Jakarta            4556.77       4577.29       -0.45
 Manila             6315.83       6295.55       +0.32
 Ho Chi Minh         583.09        586.20       -0.53
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.