SE Asia Stocks-Fall back, Thai telecoms shares weak on high 4G bid prices

viernes 18 de diciembre de 2015 02:46 GYT

BANGKOK, Dec 18 (Reuters) - Southeast Asian stock markets
retreated on Friday amid weakness in Asian and U.S. stocks, with
Thai telecoms firms' shares falling further as the auction of
fourth generation spectrum licences continued for a fourth day
and bid prices rose.
    Losses in telecoms stocks dragged the key Thai SET
index 1.6 percent lower by midday. Concerns that high 4G
investment cost would eat into profits and cut dividend payouts
made telecoms shares less attractive, traders said. 
    The SET index is set for a modest weekly gain of 0.7
percent. Brokers expected weak sentiment in the near term, with
investors seen staying on the sidelines ahead of market holidays
in the United States and Asia next week.
    "The momentum of the Fed rate hike is starting to fade while
more negative angles from the U.S. tightening are being
reported," broker Krungsri Securities said in a report.
    "Eventually, four U.S. rate hikes next year could see more
funds being shifted from emerging and regional markets to seek
better returns," its report said.
    Asian shares slipped after U.S. stocks dropped on Thursday 
due to persistent concern over faltering global economic growth,
a day after shares had rallied on the Federal Reserve's decision
to raise interest rates.  
    Stocks in Indonesia and the Philippines fell
more than one percent, but were on track to post first weekly
gains in four weeks.
    The Vietnam index was slightly lower, but heading to
end the week up about two percent, among the region's
outperformers. Singapore and Malaysia were on
course to end the week slightly higher.
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 Change at 0616 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2848.08       2861.18       -0.46
 Kuala Lumpur       1648.20       1656.52       -0.50
 Bangkok            1289.43       1310.34       -1.60
 Jakarta            4486.78       4555.96       -1.52
 Manila             6823.80       6905.70       -1.19
 Ho Chi Minh         576.48        577.11       -0.11
 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)