SE Asia Stocks-Most up slightly; energy shares fall
BANGKOK, Oct 8 (Reuters) - Most Southeast Asian stock markets edged higher on Thursday, while investors cashed in on recent gains in energy shares following the overnight pullback in crude prices, with the prospect of weak quarterly earnings hitting Thai banks. Thai SET index was nearly unchanged at 1,393.53. Shares of energy explorer PTT Exploration and Production , among large cap losers, were down 2 percent after a 10 percent gain on the day before. Profit taking would further limit gains for the day, broker Krungsri Securities said in a report. "The index has gained 3.5 percent over the past four days despite the absence of fresh positive catalysts and the seemingly stalled recovery in crude prices. This suggests there could be profit-taking," it said. Among weak spots, banking shares, such as Krung Thai Bank , fell ahead of their third-quarter earnings announcements expected to start from this week. Investors also closely watched the quarterly results of Southeast Asian firms expected in coming weeks in the face of slowing economic growth in the region, according to brokers. In Jakarta, shares of coal miner Adaro Energy fell 2.4 percent following Wednesday's 10 percent rally while the broader Indonesia's stock index was up 0.3 percent after a more than 1 percent rise earlier. In Singapore, the key Straits Times Index traded down 0.5 percent, reversing the 2.2 percent rise on Wednesday. Shares of Sembcorp Marine Ltd declined 0.4 percent, trimming some of Wednesday's 6.3 percent increase. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0612 GMT Market Current Prev Close Pct Move Singapore 2947.34 2961.81 -0.49 Kuala Lumpur 1693.75 1689.25 +0.27 Bangkok 1393.53 1393.66 -0.01 Jakarta 4501.09 4487.13 +0.31 Manila 7118.74 7108.80 +0.14 Ho Chi Minh 584.75 579.57 +0.89 (Reporting by Vipaarat Jantraprap; Editing by Anand Basu)
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