SE Asia Stocks-down as oil prices hit energy shares; Thai index falls to over 6-wk low

jueves 11 de diciembre de 2014 01:45 GYT

BANGKOK, Dec 11 (Reuters) - Southeast Asian stock markets
retreated on Thursday as investors cut positions in energy
shares after global oil prices tumbled, sending the Thai
benchmark to a more than six-week low and the Malaysian index
down from the previous day's rebound.
    The Thai SET index traded about 2 percent lower at
1,527.48, the lowest since Oct. 22.
    Shares of the country's top energy firm PTT fell 3
percent and explorer PTT Exploration and Production 
dropped 5 percent to the lowest since May 2009 after oil prices
tumbled as much as 5 percent on Wednesday. 
    "More downside could be in store for Thai stocks today amid
external pressures, further slides in crude oil prices and heavy
foreign sell-offs in both equities and futures last Tuesday,"
strategists at broker Phillip Securities wrote in a report.
    The overall performance of listed Thai firms was positive
although concerns remained over the outlook of energy companies
due to weak oil prices, Stock Exchange of Thailand
(SET)President Kesara Manchusree told reporters.
    An overnight fall in U.S. stocks broadly weighed on regional
sentiment. U.S. stocks lost more than 1 percent on Wednesday in
the S&P 500's biggest decline since Oct. 13 as another big drop
in oil prices hammered energy shares. 
    Energy shares led among the losers on regional indexes after
staging a rebound on the previous trading day.
    In Kuala Lumpur, shares of Petronas Dagangan and
Petronas Gas each dropped about 4 percent, with
Malaysia's key stock index edging down 0.5 percent after
a 1.6 percent rise on Wednesday.
    In Singapore, shares of Keppel Corp and   
Sembcorp Industries reversed the gains made on
Wednesday and were among the top percentage underperformers on
the key Straits Times Index.
    Broker NRA Capital expected more market weakness.
    "Though many consider the selling to be overdone, the lack
of support and buying interest will likely exaggerate the
falls," it said in a report.
    The Philippine index fell 1.9 percent to the lowest
since Oct. 20, led down by shares of casino owner and operator
Bloomberry Resorts Corp after a court ruling that
allowed its erstwhile operator to sell 921.18 million shares.
For Asian Companies click;  
For South East Asia Hot Stock reports, click;

 Change at 0452 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3319.44       3325.81       -0.19
 Kuala Lumpur       1757.00       1765.52       -0.48
 Bangkok            1527.48       1559.56       -2.06
 Jakarta            5152.22       5165.41       -0.26
 Manila             7041.11       7175.08       -1.87
 Ho Chi Minh         555.56        557.19       -0.29
 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)