SE Asia Stocks-Most weak amid foreign selling; telecom shares drag Thai index
Nov 12 (Reuters) - Most Southeast Asian stock markets closed weaker on Thursday, with Thailand hitting a five-week low, led by telecommunications shares, while Indonesia outperformed the region on the back of financial stocks. Thailand suffered a net foreign outflow of $98.33 million, Indonesia saw a net foreign selling of $29.20 million, Malaysia witnesses $14.72 million outflow, and the Philippines saw $8.75 million net outflow. Thailand's SET index ended 0.4 percent weaker at its lowest level since Oct. 6. 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 6.6 percent, True Corp slumped 8 percent, and Total Access Communication (TAC) lost 8.2 percent. The three telecoms along with Jasmine International, which ended flat, 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, Singapore's Straits Times Index closed 0.8 percent at its lowest level since Oct. 8. However, Indonesia's Jakarta Composite index closed 0.2 percent up. "There is some selective buying in Indonesian market because technically speaking the index has been oversold," said Andri Zakarias, an analyst with Jakarta-based BNI Securities. Malaysia fell 0.1 percent while Vietnam's benchmark VN Index rebounded to end 0.3 percent higher, snapping a four-day falling streak, as gains in some blue-chip companies in the list of state divestment offset losses in others. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 2959.01 2981.59 -0.76 Kuala Lumpur 1663.20 1665.32 -0.13 Bangkok 1384.29 1390.15 -0.42 Jakarta 4462.23 4451.59 +0.24 Manila 6909.82 6983.72 -1.06 Ho Chi Minh 605.58 603.53 +0.34 Change on year Market Current End 2014 Pct Move Singapore 2959.01 3365.15 -12.07 Kuala Lumpur 1663.20 1761.25 -5.57 Bangkok 1384.29 1497.67 -7.57 Jakarta 4462.23 5226.95 -14.63 Manila 6909.82 7230.57 -4.44 Ho Chi Minh 605.58 545.63 +10.99 ($1 = 13,600 rupiah) ($1 = 4.3600 ringgit) ($1 = 46.9730 Philippine pesos) ($1 = 35.9000 baht) (Reporting by Shihar Aneez and Fransiska Nangoy; Editing by Anand Basu)
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