SE Asia Stocks-Thai shares snap rising streak; others weaker

miércoles 4 de junio de 2014 07:13 GYT
 

BANGKOK, June 4 (Reuters) - Southeast Asian stocks fell on
Wednesday, as investors were cautious ahead of the European
Central Bank's monetary policy meeting on Thursday, and Thai
shares snapped six sessions of gains amid technical-led selling.
 
    The Thai SET index ended down 0.3 percent, after a
rally of 4.8 percent since May 27, which sent its 14-day
Relative Strength Index (RSI) to above 70 in the previous
session, indicating shares were overbought. The RSI fell to 68.1
on Wednesday.
    Profit-taking hit consumer and construction stocks such as
Charoen Pokphand Foods and industrial conglomerate Siam
Cement, which had hit a one-month high on Monday after
broker CLSA's recommendation reflected some uplift in
infrastructure spending.
    CLSA's global equity strategist Christopher Wood upgraded
Thailand to 'overweight' from 'neutral' in the Asia Pacific
ex-Japan relative-return portfolio, according to the CLSA Greed
& Fear report dated June 1.
    "It is based on the view that the probability for now is
that the military will be successful in restoring a degree of
temporary stability in the at least 15-month period that is
likely to ensue before there is another poll," the report said.
    The Thai stock market saw net foreign buying worth 582
million baht ($17.81 million) on Wednesday, for a third straight
session. 
    Fund flows to the region were mixed. The Malaysian bourse
reported net inflow of 38 million ringgit ($11.77 million) while
the Philippine stock exchange reported net outflow of 423
million peso ($9.65 million).
    Asian shares stepped back from their recent highs on
Wednesday ahead of expected easing from the European Central
Bank. MSCI's broadest index of Asia-Pacific shares outside Japan
 fell 0.4 percent. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   421.99        424.54       -0.60
 Singapore          3280.17       3296.67       -0.50
 Kuala Lumpur       1865.20       1872.55       -0.39
 Bangkok            1449.40       1454.24       -0.33
 Jakarta            4932.56       4942.16       -0.19
 Manila             6766.57       6800.84       -0.50
 Ho Chi Minh         553.46        558.76       -0.95
 
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   421.99        388.37       +8.66
 Singapore          3280.17       3167.43       +3.56
 Kuala Lumpur       1865.20       1866.96       -0.09
 Bangkok            1449.40       1298.71      +11.60
 Jakarta            4932.56       4274.18      +15.40
 Manila             6766.57       5889.83      +14.89
 Ho Chi Minh         553.46        504.63       +9.68
 
* 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 = 32.6850 Thai Baht)
($1 = 3.2290 Malaysian Ringgits)
($1 = 43.8200 Philippine Pesos)

 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)