SE Asia Stocks-Thai SET index at 2-mth low after selloffs in airlines

miércoles 2 de diciembre de 2015 04:41 GYT
 

BANGKOK, Dec 2 (Reuters) - Thailand's key stock index hit a
two-month low on Wednesday as airlines declined after the U.S.
Federal Aviation Administration (FAA) downgraded the country's
safety ratings, while most other share markets in Southeast Asia
were little changed in line with Asian stocks.
    Bangkok's SET index fell 0.8 percent to the lowest
level since Oct. 2. Shares of national carrier Thai Airways
International dropped 6.3 percent to the lowest since
2009.
    Asia Aviation, a major shareholder in budget
carrier Thai AirAsia, and Bangkok Airways both fell more
than 3 percent each. Nok Airlines was down 1.5 percent.
    "Although the downgrade on Thailand's aviation rating is
negative, we think that the impact would be limited. Currently,
there is no commercial or customer impact as Thai Airways
International had already ceased operations to the US," said
broker KGI Securities.
    Thai Prime Minister Prayuth Chan-ocha on Wednesday ordered
officials to improve aviation safety standards after the U.S.
FAA downgraded Thailand's safety ratings. 
    Stocks in Malaysia, Indonesia and the
Philippines edged lower with foreign investors seen
selling shares amid expectation the European Central Bank will
ease policy further at its meeting on Thursday.
    Among outperformers, Singapore rose 0.6 percent ahead
of November factory data and Vietnam was up 0.7 percent
after the World Bank raised its forecast for the country's
economic growth. 
    Asian stock markets wavered after downbeat U.S.
manufacturing data raised questions about how aggressive the
Federal Reserve would be when hiking interest rates, while the
dollar retreated from 8-1/2-month highs. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0819 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2888.08       2870.26       +0.62
 Kuala Lumpur       1679.31       1682.37       -0.18
 Bangkok            1345.96       1357.01       -0.81
 Jakarta            4543.96       4557.67       -0.30
 Manila             7047.08       7060.60       -0.19
 Ho Chi Minh         574.42        570.41       +0.70
 
 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)