SE Asia Stocks -Most up; Thai shares decline on June confidence fall

jueves 2 de julio de 2015 01:35 GYT

BANGKOK, July 2 (Reuters) - Southeast Asian stock markets
eked out more gains on Thursday in cautious trading amid
uncertainty about a Greek debt deal, but Thai shares headed for
a fourth straight loss after data showed consumer confidence
fell for a sixth straight month in June.
    Bangkok's SET index was down 0.5 percent, resuming
trading after a market holiday on Wednesday.
    Banking shares extended losses after a university survey
showed consumer confidence remained weak in June, partly
reflecting an uncertain economic recovery. 
    Shares of Kasikornbank dropped 4.2 percent in
strong trading with volume more than three times full-day
average over the past 30 days. Siam Commercial Bank and
Krung Thai Bank declined almost 2 percent each.
    Banking shares have been under selling pressure this week as
downbeat economic indicators in May prompted investors cut
exposures to sectors seen among economic proxies.
    "May economic data remained weak and could continue to cap
the performance of domestic plays like banks and property
space," strategists at broker KGI Securities wrote in a report.
    Singapore's Straits Times Index was up 0.05
percent, erasing most of the early gains. Investors appeared
cautious ahead of manufacturing activity data, with trading
volume about 30 percent of the full-day average over the past 30
    The city-state will release its Purchasing Managers' index
 (PMI) for June later in the day. The index was 50.2
in May, and a reading above 50 points to an expansion.
    "... The blip in May could turn out to be a one-off,
especially given the existing drag from the electronics
cluster," DBS Group Research said in a report.
    Shares in Malaysia extended gains after Fitch
upgraded its credit rating outlook. Indexes in Indonesia 
and the Philippines both touched a one-week high and
Vietnam rebounded from the fall on Wednesday.
    Asian shares lost early steadiness and Chinese stocks got
off to a weak start, while upbeat U.S. economic data helped the
dollar gain as investors globally opted for caution due to
Greece's standoff with its creditors. 
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 Change at 0501 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3333.81       3331.14       +0.05
 Kuala Lumpur       1735.49       1727.96       +0.44
 Bangkok            1497.66       1504.55       -0.46
 Jakarta            4940.97       4904.06       +0.75
 Manila             7615.14       7575.15       +0.53
 Ho Chi Minh         597.06        591.50       +0.94
 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)