SE Asia Stocks-Most down; Singapore retreats from 11-mth high on profit taking
HANOI, April 23 (Reuters) - Most Southeast Asian stocks lost ground on Wednesday, led by Singapore with investors booking profits after recent gains; while shares in Thailand bucked the regional trend to close at a critical resistance level. The Straits Times Index fell 0.6 percent on profit-taking after a winning streak of six days. It had closed at its highest level in nearly 11 months on Tuesday. Keppel Corporation Ltd was the top loser, with shares dropping 3.45 percent to their one-month low as the stock went ex-dividend on Wednesday at 30 Singapore cents, according to data from the Singapore Exchange. KPLM has lost 5 percent since April 16 when it reported a 5 percent drop in first-quarter net profit compared with a year earlier. "Results came in weaker than expected, so (Keppel's) share prices have actually been off since," said an analyst with Maybank Kim Eng. The Jakarta Composite Index and Vietnam's benchmark VN Index both edged down 0.1 percent each, and Philippine equities reversed their four-session winning streak with a 0.23 percent fall. But stocks in Thailand and Malaysia bucked the trend, rising 0.59 percent and 0.05 percent respectively. Analysts expect the SET Index would face a correction soon as it has reached a critical resistance level between 1,420 and 1,430. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 420.52 421.55 -0.24 Singapore 3258.01 3277.53 -0.60 Kuala Lumpur 1867.35 1866.42 +0.05 Bangkok 1423.39 1415.05 +0.59 Jakarta 4893.15 4898.21 -0.10 Manila 6769.52 6784.95 -0.23 Ho Chi Minh 569.36 569.87 -0.09 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 420.52 388.37 +8.28 Singapore 3258.01 3167.43 +2.86 Kuala Lumpur 1867.35 1866.96 +0.02 Bangkok 1423.39 1298.71 +9.60 Jakarta 4893.15 4274.18 +14.48 Manila 6769.52 5889.83 +14.94 Ho Chi Minh 569.36 504.63 +12.83 * 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 Mai Nguyen; Editing by Subhranshu Sahu)
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