SE Asia Stocks -Thai shares weak; Q3 GDP growth below forecasts

lunes 17 de noviembre de 2014 01:36 GYT

BANGKOK, Nov 17 (Reuters) - Southeast Asian stock markets
were range-bound on Monday as investors kept to the sidelines
after most major firms posted quarterly results and the Thai
index fell after weaker-than-expected third-quarter GDP data and
a cut in the forecast for the year.
    The Thai economy grew a much less-than-expected 1.1 percent
in July-September from the previous three months and the
country's planning agency trimmed its economic growth forecast
for this year to 1.0 percent, citing weak exports.
    The key SET index fell 0.1 percent, extending its
moderate loss from the previous session, led lower by large caps
stocks including Siam Commercial Bank and Advanced Info
    The markets were cautious due to the uncertain prospect of
an economic turnaround in the near term, including a recovery in
consumption, investment, the government's fiscal spending and
    "Unfortunately though, stagnant (in fact, slightly negative)
export earnings mean capacity utilization remains weak. As far
new investments are concerned, there is no real hurry for the
business owners," DBS Group Research said in a report.
    Singapore eased 0.6 percent, reversing two days of
gains to a near two-month high on Friday. Malaysia 
extended losses over the past four sessions, Indonesia 
posted small gains and the Philippines inched higher.
    In Singapore, selling hit bank shares recently boosted by
strong earnings, with shares of DBS Group Holdings 
dropping 2 percent and Oversea-Chinese Banking Corp 
losing 0.4 percent after rising to a near one-year high on
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 Change at 0500 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3296.45       3315.67       -0.58
 Kuala Lumpur       1811.22       1813.79       -0.14
 Bangkok            1574.77       1575.88       -0.07
 Jakarta            5060.00       5049.49       +0.21
 Manila             7232.18       7217.34       +0.21
 Ho Chi Minh         604.48        600.36       +0.69
 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)