SE Asia Stocks-Thai index falls to near 2-wk low; Indonesia set for strong 2014 gain

martes 30 de diciembre de 2014 02:04 GYT

BANGKOK, Dec 30 (Reuters) - Thailand's key stock index hit a
near two-week low on Tuesday as energy shares were dragged lower
by a drop in crude oil prices and small caps came under selling
pressure amid caution over tightening trading regulations from
Jan. 5.
    Other markets in Southeast Asia were little changed, with
public holidays in the region keeping trading activities light.
    Thai SET index was down 0.3 percent at 1,494.14,
trimming gains so far in the year to 15.1 percent, still among
the region's outperformers.
    The benchmark earlier hit 1,486.30, the lowest since Dec.
17. Shares of PTT Exploration and Production traded
more than 1 percent lower as Brent crude extended losses into a
fourth session on Tuesday. 
    Shares of Inter Far East Engineering plunged 6.2
percent and Pan Asia Footwear slipped 3.2 percent as
investors cut holdings in small caps before the exchange's new
measures kick in to curb excessive speculation in stock markets.
    The rule will be effective from Jan. 5. 
    Broker KGI Securities expects the Thai market to move
sideways on the final trading day of 2014, with a positive
outlook for 2015.
    "Looking to 2015, we remain moderately positive to SET in
the first quarter due mainly to our view that European QE will
take place and drive a new round of EM inflows," it said in a
    Jakarta's composite index was 0.2 percent higher at
5,185.98, with shares of dividend yielding shares such as
Telkomunikasi Indonesia among those actively traded.
    The index is heading for a 2014 gain of 21.4 percent and
trailing the Philippine index's 22.8 percent gain.
    "It is slightly below our expectation of 5,300 on
worse-than-expected IDR weakness which is negative for market
growth outlook," said Harry Su, head of research of Bahana
    "On a more positive note, the Indonesian market would be
well supported by lower oil prices, which should allow 2015
current account deficit to come down to 1.9 percent of GDP from
2014's level of 3.0 percent," he said.
    The rupiah has lost 2.4 percent against the dollar
so far this year, partly due to weak economic data.
    The Thai stock market will be shut Dec. 31 through Jan. 2
for the New Year holidays and will reopen Jan. 5. Indonesia will
be closed on Dec. 31 and Jan. 1, with trading resuming on Jan. 2
and the Philippines will remain closed through Jan. 2.
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 Change at 0528 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3365.37       3367.69       -0.07
 Kuala Lumpur       1767.03       1768.41       -0.08
 Bangkok            1494.14       1498.22       -0.27
 Jakarta            5185.98       5178.37       +0.15
 Ho Chi Minh         532.93        532.68       +0.05
 (Reporting by Viparat Jantraprap; Additional reporting by Wirat
Buranakanokthanasan in BANGKOK and Jongwoo Cheon in SINGAPORE;
Editing by Biju Dwarakanath)