SE Asia Stocks-Weak ahead of ECB; Thai index at 3-month low
BANGKOK, Dec 3 (Reuters) - Most Southeast Asian stock markets fell on Thursday, with the Thai index hitting a more than three-month low, led by shares of CP All Pcl after insider trading fines, while cautions remained in the region ahead of the European Central Bank's policy decision. Thailand's SET index was down 0.8 percent at 1,329.25, the lowest since Aug. 26. Shares of retailer CP All, the top percentage losers on the benchmark, plunged almost 9 percent in strong trading volume which was 6.8 times the full-day average over past 30 days. The stock was on track for its biggest single-day percentage loss since April 2013. Thailand's market regulator said on Wednesday it had fined top executives at CP All and True Corp a total of almost $1 million for insider trading. True Corp shares were down 0.6 percent. Some analysts said the selloffs were overdone. "The case may not have an impact on CP All earnings but it could somewhat affect the image of the group," said broker DBS Vickers (Thailand) in a report. Stocks in Singapore traded down 0.3 percent after data showed activity in Singapore factories shrank in November for a fifth straight month. Malaysia, and the Philippines extended declines in line with broader Asia, while Vietnam rose, led by Vietcombank. Asian stocks slipped and the dollar advanced after hawkish comments from Federal Reserve Chair Janet Yellen reinforced the case for an interest rate hike later this month. The ECB is expected to ease policy further on Thursday, delivering a cocktail of measures that could include a deposit rate cut and changes to its asset-buying programme. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0652 GMT Market Current Prev Close Pct Move Singapore 2874.23 2883.64 -0.33 Kuala Lumpur 1672.41 1676.77 -0.26 Bangkok 1329.25 1339.45 -0.76 Jakarta 4545.84 4545.86 0.00 Manila 6961.58 7047.08 -1.21 Ho Chi Minh 575.13 574.42 -1.21 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
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