SE Asia Stocks -Most range-bound; Thai shares near 8-week lows

martes 7 de octubre de 2014 02:25 GYT
 

BANGKOK, Oct 7 (Reuters) - Thai shares extended their losses
for a second day on Tuesday, led lower by large caps such as PTT
 and Siam Cement, while Bumi Resources
 shares underperformed in Indonesia after the company
cut the size of its rights issue.
    Bangkok's SET index was down 0.01 percent at midday
after moving back and forth in early trading which saw it slip
to 1,534.42, the lowest since Aug. 13.
    Some technical-led buying lifted the index earlier in the
day after it dropped 1.7 percent on Monday, its biggest daily
fall since Jan. 28, after the royal palace said Thailand's King
Bhumibol Adulyadej had undergone surgery to remove his gall
bladder. 
    The health of King Bhumibol, the world's longest-reigning
monarch, has improved after the successful operation, the Nation
newspaper reported, citing the latest statement from the Royal
Household Bureau.
    Domestic institutions sold Thai shares worth a net 3 billion
baht ($92.08 million) on Monday, overshadowing buying by foreign
and retail investors. 
    "We expect the SET to rebound modestly, but volatility may
remain high. External factors are still neutral," broker KGI
Securities said in a report.
    Among the bright spots, shares of Kasikornbank 
jumped 2.3 percent after a 3.9 percent fall in the previous
session sent the stock's 14-day Relative Strength Index (RSI) to
36, near the oversold territory of 30 or below.
    In Jakarta, foreign-led buying lifted shares of Astra
International and Telkom Indonesia, bringing
the key share index 0.3 percent higher.
    Shares of Bumi Resources fell more than 7 percent on
resuming trade after a near two-week long trading suspension was
lifted. The company said on Monday it slashed its rights issue
by about half to 3.96 trillion rupiah ($324.9 million) due to
tepid demand. 
    Other markets in Southeast Asia were range-bound while Asian
shares inched tentatively higher as the focus turned to an
imminent policy decision from the Bank of Japan. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0542 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3242.92       3253.24       -0.32
 Kuala Lumpur       1846.35       1840.82       +0.30
 Bangkok            1542.90       1543.13       -0.01
 Jakarta            5016.35       5000.14       +0.32
 Manila             7232.98       7247.03       -0.19
 Ho Chi Minh         616.32        614.42       +0.31
 (1 US dollar = 32.5800 baht)

 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)