SE Asia Stocks-Mixed; Thailand at five-week low
Nov 12 (Reuters) - Southeast Asian stock markets were mixed on Thursday, with Thailand hitting a five-week low, led by telecommunication shares, and Indonesia outperforming the region on the back of financial stocks. Thailand's SET index was down 0.6 percent at 0738 GMT, trading at its lowest since Oct. 7. Shares in leading telecommunications operators slumped on concerns they may end up paying too much for 4G mobile licences at a hotly contested auction. Advanced Info Service Pcl (AIS), the market leader, fell 5.8 percent, True Corp slumped 7 percent, Total Access Communication (TAC) lost 6.1 percent and Jasmine International fell 3.64 percent, after all the four operators had bid to win the licences. Thailand's 4G spectrum auction has attracted bids worth more than 74 billion baht ($2.07 billion) for the two licences on offer, the nation's telecommunications regulator said. The Philippines index fell 1.1 percent to over five-week low and Singapore Straits Times Index was down 0.7 percent. However, Indonesia's Jakarta Composite index was up 0.7 percent. "There are some selective buying in Indonesian market because technically speaking the index has been oversold," said Andri Zakarias, an analyst with Jakarta-based BNI Securities. "Global oil price was down overnight, leading to expectation of further inflation easing. However, i believe there will be profit taking tomorrow since the foreign selling is still quite strong." Vietnam's benchmark VN Index recovered and traded 0.3 percent up after falling 0.9 percent at the break to below the 600-point key level on gains in financial shares. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0802 GMT Market Current Prev Close Pct Move Singapore 2960.72 2981.59 -0.70 Kuala Lumpur 1668.93 1665.32 +0.22 Bangkok 1383.66 1390.15 -0.47 Jakarta 4483.26 4451.59 +0.71 Manila 6909.82 7983.72 -1.06 Ho Chi Minh 605.58 603.53 +0.34 (Reporting by Shihar Aneez and Fransiska Nangoy; Editing by Anand Basu)
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