SE Asia Stocks - Mixed; Thai SET index at 7-month low
BANGKOK, July 21 (Reuters) - Most Southeast Asian stock markets rebounded on Tuesday with investors picking select shares in the reporting season while Thai stocks fell to seven-month lows on selling in large-cap banks. Bangkok's SET index eased 0.9 percent to 1,453.79, its lowest since Dec. 16. Shares of Kasikornbank, the most actively traded by turnover, dropped 3.2 percent, followed by a 1 percent decline in Siam Commercial Bank. Most banks reported better-than-expected second-quarter earnings but investors were wary of the possible impact of an economic slowdown on non-performing loans in coming quarters, brokers said. Technical indicators pointed to near-term market weaknesses. SCB Securities said the SET index broke below a key support level. "The breakdown of the critical 1,457 support level now makes the technical picture look very weak. Short-term supports sit at 1,426 and 1,403 ... Overall, direction for the index trend is still bearish. Time frame is 1-3 weeks," it said. In Singapore, shares of CapitaLand Mall Trust climbed 1.4 percent, the second biggest percentage gainer on the key Straits Times Index, ahead of its second-quarter earnings release expected on Wednesday. The Philippine index climbed almost 1 percent after a fall on Monday while Malaysia's Kuala Lumpur Composite Index edged up 0.2 percent at 1,726.64. Broker Citi in a report dated July 16 had a target of 1,850 for the KLCI. Vietnam was slightly lower while Indonesia remained closed through July 21 for Eid al-Fitr, reopening on Wednesday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0641 GMT Market Current Prev Close Pct Move Singapore 3375.23 3373.48 +0.05 Kuala Lumpur 1726.64 1724.13 +0.15 Bangkok 1453.79 1466.71 -0.88 Manila 7607.52 7541.17 +0.88 Ho Chi Minh 618.48 620.54 -0.33 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)
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