SE Asia Stocks-Thai shares see worst loss since Jan; Ex-PM found guilty in rice scheme

jueves 8 de mayo de 2014 07:13 GYT

BANGKOK, May 8 (Reuters) - Thai shares posted their worst
drop since January on Thursday after an anti-graft body found
former Prime Minister Yingluck Shinawatra guilty of negligence
over a rice-buying scheme while stocks in Vietnam fell the most
in nearly 13 years amid a South China sea dispute with
    Bangkok's key SET index ended down 1.7 percent at
1,379.02, the lowest close in almost six weeks, led down by
large caps such as Advanced Info Service.
    Yingluck's rice scheme case will be further heard by the
Senate and she now faces a ban from politics if found guilty by
the Senate. 
    Domestic institutions sold shares worth a net 1.3 billion
baht ($40.14 million) while foreign investors bought worth a net
1.2 billion baht ($37.05 million), Thomson Reuters data showed.
    The Thai market saw a net 2 billion baht of foreign selling
on Wednesday after a court ordered Yingluck to step down after
finding her guilty of abuse of power. 
    Thailand's consumer confidence fell for the thirteenth month
in April, reflecting worries about the prolonged political
uncertainty. The Thai stock market was Asia's second-worst
performer on the day after Vietnam, which was the worst, Thomson
Reuters data showed.
    "It's no surprise that the political situation is
undermining consumer confidence and the economic outlook ... As
the lack of further clarity on politics leaves fiscal policy in
a vacuum, growth will remain subpar at best," said economist
Julia Goh at CIMB Investment Bank.
    Stocks in Indonesia ended nearly flat after Bank
Indonesia kept its key reference rate unchanged at 7.50
percent on Thursday, as widely expected, with pressures over
inflation and a widening current-account deficit easing.
    The Philippines and Malaysia saw a
range-bound session before the Philippine central bank and Bank
Negara Malaysia both held key interest rates as expected. The
decisions came after market close. 
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 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   417.95        418.41       -0.11
 Singapore          3247.69       3236.43       +0.35
 Kuala Lumpur       1862.84       1860.43       +0.13
 Bangkok            1379.02       1402.61       -1.68
 Jakarta            4860.89       4862.07       -0.02
 Manila             6765.21       6748.51       +0.25
 Ho Chi Minh         527.09        559.97       -5.87
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   417.95        388.37       +7.61
 Singapore          3247.69       3167.43       +2.65
 Kuala Lumpur       1862.84       1866.96       -0.22
 Bangkok            1379.02       1298.71       +6.42
 Jakarta            4860.89       4274.18      +13.38
 Manila             6765.21       5889.83      +14.78
 Ho Chi Minh         527.09        504.63       +4.43
* 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 = 44.2200 Philippine Pesos)
($1 = 3.2505 Malaysian Ringgits)
($1 = 32.3900 Thai Baht)

 (Reporting by Viparat Jantraprap; Additional reporting by Mai
Nguyen in HANOI; Editing by Anupama Dwivedi)