SE Asia Stocks - Most range-bound; Thai banks rebound but asset quality in focus

viernes 3 de julio de 2015 02:11 GYT

BANGKOK, July 3 (Reuters) - Most Southeast Asian stock
markets were range-bound on Friday as investors stayed defensive
amid concerns over the Greek bailout talks and weak Chinese
shares while Thai banks saw a moderate rebound after the
previous day's sell-off.
    The Thai index eased 0.2 percent at midday. Losses
in energy shares such as PTT, which tracked a drop in
global oil prices, overshadowed gains in shares of big banks led
by Kasikornbank and Siam Commercial Bank.
    "Near-term sentiment on banks remains negative, while global
news flow was slightly cautious overnight," broker KGI
Securities said in a report.
    Asset quality deterioration triggered recent selling in Thai
banking shares, KGI said. All big banks noted a deterioration in
asset quality, mainly from small and medium enterprises, it
    The SET index was on course for a weekly drop of almost 2
percent, the region's worst performer. 
    Malaysia's key index edged down 0.2 percent, erasing
small early gains. Data on Friday showed Malaysia's May exports
fell a less-than-expected 6.7 percent from a year earlier,
helped by exports to China. 
    Indexes in Indonesia and Vietnam extended
gains from Thursday, while Singapore rebounded and the
Philippines was virtually flat after small gains over the
past two days.
    Weekly performances were mixed. Vietnam is poised to
outperform on the week, with a gain of almost 6 percent,
followed by Malaysia's 1 percent and smaller gains in Singapore
and Indonesia. The Philippine index was headed for a
weekly decline of 0.6 percent.
    Asian stocks fell on Friday as Chinese stocks plunged and
growing caution before Greece's weekend referendum prompted
investors to cut risky bets, while disappointing U.S. employment
data weighed on the dollar. 
For Asian Companies click;  

 Change at 0540 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3342.79       3327.84       +0.45
 Kuala Lumpur       1729.88       1733.88       -0.23
 Bangkok            1489.14       1491.62       -0.17
 Jakarta            4957.49       4944.78       +0.26
 Manila             7575.72       7578.31       -0.03
 Ho Chi Minh         615.44        605.70       +1.61
 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)