SE Asia Stocks - Range-bound; Thai index snaps losing streak

martes 7 de julio de 2015 03:30 GYT
 

BANGKOK, July 7 (Reuters) - Southeast Asian stock markets
were range-bound on Tuesday as investors awaited developments in
the Greek debt talks, with the Thai benchmark snapping a six-day
losing streak while the appointment of a new central bank
governor is likely to boost the market further.
    The key SET index was up 0.35 percent at 1,478.34 at
midday, rebounding from Monday's near-seven-month closing low.
    Bargain-hunting emerged in oversold banking shares, with
Kasikornbank and Bangkok Bank both up more
than 1 percent.
    "The benchmark SET index has fallen to a level we consider a
good bargain-hunting value," said strategists at broker KGI
Securities in a report.
    "Though developments between Greece and its creditors need
monitoring, sentimental impact is expected to be confined within
the euro zone, at least at this juncture," they said.
    Justice Minister Paiboon Koomchaya told Reuters at midday
that the government has selected Veerathai Santiprabhob, a
former International Monetary Fund economist, to be the next
governor of the Bank of Thailand. 
    The much-anticipated appointment is expected to further buoy
the market, brokers said.
    In Singapore, the key Straits Times Index edged up
0.22 percent, recovering from the loss on Monday. Market breadth
was mildly negative on light bargain-hunting, said broker NRA
Capital in a report.
    Vietnam edged up 0.3 percent while indexes in
Malaysia, Indonesia and the Philippines 
all drifted into negative territory. 
    Most Asian stocks drooped on Tuesday as Chinese equity
markets went into a fresh tailspin, fraying investor nerves
already strained by uncertainty over the future of Greece and
the European currency union. 
          
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0649 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3338.95       3332.94       +0.18
 Kuala Lumpur       1715.04       1717.05       -0.12
 Bangkok            1478.34       1473.23       +0.35
 Jakarta            4900.94       4916.74       -0.32
 Manila             7431.36       7455.15       -0.32
 Ho Chi Minh         626.00        625.22       +0.12
 
 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)