SE Asia Stocks - Most weak; PTT leads Thai shares lower
BANGKOK, May 26 (Reuters) - Thai stocks eased on Monday, led down by large caps including top energy firm PTT, while other Southeast Asian stock markets were range-bound, tracking broader Asia. The Thai SET index was down 0.5 percent at midday, with shares of PTT falling 2.6 percent amid concerns about more foreign selling of large-cap shares. Investors were also cautious about possible reforms in the energy sector and potential changes to the board of state-controlled PTT. But builders, such as Ch Karnchang, rose amid hopes the military government would speed up disbursements for infrastructure projects. Jakarta's Composite Index edged lower as investors took profits in shares such as Bank Rakyat Indonesia and Bank Mandiri. Uncertainty over the outcome of Indonesia's upcoming presidential election has prompted selling in stocks, though the index has risen more than 16 percent rise so far this year, making it Asia's second-best performer after India's BSE index . The Philippine main index fell 0.4 percent, extending Friday's fall, amid active selling in shares of Universal Robina Corp and Metropolitan Bank & Trust. Philippine shares have gained about 15.1 percent this year, Asia's third best, thanks to the country's economic performance. The Philippine economy is expected to have sustained a strong pace of growth in the first three months of the year, a Reuters poll showed on Monday, underpinned by robust private consumption and state spending on typhoon rebuilding. Vietnam's benchmark VN Index edged up 0.2 percent, buoyed by moderate purchases from investors who expect Vietnam's economic outlook to be stable. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0604 GMT Market Current Prev Close Pct Move TR SE Asia Index* 421.21 421.82 -0.15 Singapore 3282.03 3278.02 +0.12 Kuala Lumpur 1864.29 1869.22 -0.26 Bangkok 1389.35 1396.84 -0.54 Jakarta 4962.66 4973.06 -0.21 Manila 6777.17 6811.33 -0.50 Ho Chi Minh 542.27 541.49 +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. (Reporting by Viparat Jantraprap; Editing by Prateek Chatterjee)
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