SE Asia Stocks -Most fall, energy shares lead regional decline
BANGKOK, Aug 21 (Reuters) - Most Southeast Asian stock markets fell on Friday amid selloffs in energy shares, but Thai construction stocks gained on expectations of an acceleration in government infrastructure spending after a cabinet reshuffle. The Thai SET index was down 0.8 percent, led by losses in shares of top energy firm PTT, PTT Exploration and Production and PTT Global Chemical , making up about 10 percent of the total market weight. The benchmark headed for a weekly loss of 4 percent, the worst since mid-December, on foreign outflows over the past three sessions after a deadly bomb blast in central Bangkok. Bright spots were construction shares such as Italian Thai Development and Ch Karnchang which helped the index recoup some early losses. "We are expecting the new economic dream team to launch stimulus measures, which should benefit contractors and domestic consumption stocks," strategists at broker Krungsri Securities wrote in a note to clients. A handful of energy shares in the region fell, with key oil benchmarks trading near 6-1/2 year lows due to supply glut and China's slowing economy. Singapore's Sembcorp Marine Ltd was down 3.4 percent, Indonesia's Astra Agro Lestari was lower 4.2 percent and the Philippines' Energy Development Corp was off 2.8 percent. Stock indexes of Singapore and Indonesia led declines in the region. Among underperforming indexes, Singapore fell 2 percent to the lowest since November 2012 and Indonesia declined 2 percent to the lowest since February 2014, both on course for a weekly drop of about 5 percent each. Vietnam was down 2.7 percent on the day, on track for a 6.4 percent slide on the week following a devaluation of the dong. The Philippine stock market was closed on Friday for a national holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0515 GMT Market Current Prev Close Pct Move Singapore 2950.51 3009.78 -1.97 Kuala Lumpur 1582.34 1577.41 +0.31 Bangkok 1361.45 1372.53 -0.81 Jakarta 4350.75 4441.91 -2.05 Ho Chi Minh 551.49 566.69 -2.68 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
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