SE Asia Stocks-Thai index underperforms on telecoms auction woes

lunes 21 de diciembre de 2015 04:03 GYT

BANGKOK, Dec 21 (Reuters) - Most Southeast Asian stock
markets fell on Monday as weak oil prices hit energy shares,
with the Thai benchmark touching a one-week low as key telecoms
shares faced more selling pressure amid concerns over high 4G
bidding prices and rising competition.
    Thai key SET index fell 1.1 percent to the lowest
since Dec. 14, led by a 20 percent plunge in shares of Total
Access Communication and a 14 percent decline in
shares of Jasmine International.
    The lengthy auction for two 4G spectrum licences ended on
Saturday at high prices of 151.95 billion baht ($4.2 billion),
with Jasmine and True Corp the winning bidders.
    The selloffs came amid analysts' downgrades of the sector.
Broker Krungsri Securities said it cut its rating on the sector
to "underweight" from "neutral".
    "Existing operators are likely to lose market share and see
lower revenue per subscriber and margins; DTAC should be hardest
hit," it said in a report.
    Malaysia's index touched a near one-week low, led by
a 4 percent slide in oil and gas service firm Sapurakencana
Petroleum. Singapore's index eased 0.3 percent,
with Keppel Corp among underperformers. 
    Stocks in Vietnam slipped amid foreign selling, while
Indonesia and the Philippines recouped early
    Most share markets saw thin trading volumes ahead of public
holidays in the region later in the week.
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 Change at 0741 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2844.18       2852.84       -0.30
 Kuala Lumpur       1629.49       1643.90       -0.88
 Bangkok            1270.68       1284.92       -1.11
 Jakarta            4483.51       4468.65       +0.33
 Manila             6910.34       6867.07       +0.63
 Ho Chi Minh         566.64        568.18       -0.27
 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)