SE Asia Stocks - Thai shares trim losses; PTT rallies after hike in gas prices
BANGKOK, Sept 30 (Reuters) - Southeast Asian stock markets ended mostly lower on Tuesday amid weaknesses in Asian stocks and political unrest in Hong Kong, but late buying in PTT after gas price hikes helped the Thai index recoup early losses. Thailand's military-backed government said it will raise prices of liquefied petroleum gas (LPG) for transportation and natural gas for vehicles (NGV) from Oct. 1, as part of its energy reforms. PTT said it expected losses incurred from its NGV business would reduce by 2 billion baht ($61.7 million) per year after the NGV price hike of 1 baht/kg to 11.50 baht, sending its stock 1.98 percent higher, the biggest one-day gain in four weeks. The SET index ended nearly flat, rebounding from an intraday low of 1,581.17. The benchmark rose 6.7 percent in the July-September period, its third straight quarterly gain and was the best performer in Southeast Asia. Asian markets were in a hesitant mood on Tuesday as investors wondered what China's response would be to civil unrest in Hong Kong. Investors also looked forward to the European Central Bank policy meeting on Thursday to gauge the direction of fund flows to the region, according to brokers. Most Southeast Asian stocks notched up gains for the three months ended September. The Philippines rose 6.4 percent, Indonesia put on 5.3 percent, Vietnam 3.6 percent and Singapore 0.7 percent. Malaysia bucked the trend, falling 1.9 percent. 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 Singapore 3276.74 3289.72 -0.39 Kuala Lumpur 1846.31 1846.34 0.00 Bangkok 1585.67 1585.79 -0.01 Jakarta 5137.58 5142.01 -0.09 Manila 7283.07 7265.36 +0.24 Ho Chi Minh 598.80 599.78 -0.16 Change on year Market Current End 2013 Pct Move Singapore 3276.64 3167.43 +3.45 Kuala Lumpur 1846.31 1866.96 -1.11 Bangkok 1585.67 1298.71 +22.10 Jakarta 5137.58 4274.18 +20.20 Manila 7283.07 5889.83 +23.66 Ho Chi Minh 598.80 504.63 +18.66 (1 US dollar = 32.4000 Thai baht) (Reporting by Viparat Jantraprap; Editing by Prateek Chatterjee)
© Thomson Reuters 2016 All rights reserved.