SE Asia Stocks - Thai index at fresh 7-month low; most others weak

miércoles 22 de julio de 2015 03:17 GYT

BANGKOK, July 22 (Reuters) - Southeast Asian stock markets
fell on Wednesday, with the Thai index hitting a more than
seven-month low and Singapore drifting into negative territory,
as investors lowered risk holdings in a reporting season amid
weak sentiment in Asia. 
    The SET index was down 0.1 percent at 1,445.37,
after having fallen to 1,432.58, its lowest since Dec. 16.
    It had lost almost 3 percent in six successive days to
Tuesday amid selloff in banking shares on concerns over the
impact of weak economy on loan books while construction shares
fell on expectations of possible delays in government projects.
    The weak sentiment has been due to a combination of poor
economic data, banks' warning on asset quality, impact of
drought, the downgrade of exports and expectations of a cabinet
reshuffle, analyst at SCB Securities said. 
    The broker advised 'buy' for a market rebound as many stocks
were oversold, its report said.
    "The dismissal by the Prime Minister of expected government
reshuffle has acted as the last straw ... We were expecting a
change in the economic advisory team to bring in advisors which
would resume subsidies or stimulus of some form," they said.
    Singapore's key index edged down 0.4 percent, with
Capitaland Mall Trust 1.8 percent lower.
    The Jakarta composite index was virtually flat on
resuming trading, Malaysia's key index retreated from a
more than six-week closing high on Tuesday and the Philippines
 reversed from Tuesday's close of a near four-week high.
    Vietnam bucked the weak trend as several large-cap
shares advanced. 
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 Change at 0649 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3358.03       3371.41       -0.40
 Kuala Lumpur       1727.26       1736.19       -0.51
 Bangkok            1445.37       1447.44       -0.14
 Jakarta            4870.80       4869.85       +0.02
 Manila             7608.60       7627.96       -0.25
 Ho Chi Minh         624.17        616.61       +1.23
 (Reporting by Viparat Jantraprap; Editing by Prateek