SE Asia Stocks - Thai shares snap rising streak after weak exports data

lunes 29 de septiembre de 2014 06:35 GYT

BANGKOK, Sept 29 (Reuters) - Thai stocks snapped eight
sessions of gains on Monday as disappointing August exports data
fuelled late selling in an overbought market, while most others
in Southeast Asia were flat-to-weaker amid weakness in regional
    The Thai SET index closed down 0.9 percent after
rallying 2.2 percent in the previous eight trading sessions.
Large-caps fell on strong volume, including Bangkok Bank
, Advanced Info Service and PTT.
    The index closed at 1,585.79, down from Friday's close of
1,600.16, which sent its 14-day Relative Strength Index (RSI) to
71.9. A reading above 70 indicates an overbought market.
    "The trade data added to an already weak market sentiment as
we also had a technical-led selling around the 1,600 level,"
said Viwat Techapoonphol, a senior strategist at Tisco
    Thai exports in August suffered the biggest percentage drop
since bad flooding in late 2011, confirming that a key engine of
the country's economy was not firing. 
    Indonesian shares edged higher, rebounding from a
more than seven-week low hit earlier, while Philippine shares
 were flat amid foreign-led selling in telecoms stocks
such as Globe Telecom.
    The Indonesian rupiah hit a seven-month low on
Monday on worries about political uncertainty and in response to
the U.S. dollar's broad strength, while Asian currencies
retreated broadly. 

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 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3289.72       3292.21       -0.08
 Kuala Lumpur       1846.34       1840.50       +0.32
 Bangkok            1585.79       1600.16       -0.90
 Jakarta            5142.01       5132.56       +0.18
 Manila             7265.36       7261.30       -0.06
 Ho Chi Minh         599.78        604.98       -0.86
 Change on year
 Market             Current       End 2013    Pct Move
 Singapore          3289.72       3167.43       +3.86
 Kuala Lumpur       1846.34       1866.96       -1.10
 Bangkok            1585.79       1298.71      +22.11
 Jakarta            5142.01       4274.18      +20.30
 Manila             7265.36       5889.83      +23.35
 Ho Chi Minh         599.78        504.63      +18.86
 (Reporting by Viparat Jantraprap; Editing by Prateek