SE Asia Stocks-Thailand up; Big C, Berli Jucker lead gains

lunes 8 de febrero de 2016 00:39 GYT
 

BANGKOK, Feb 8 (Reuters) - Thai stocks eked out small gains
on Monday, as Big C Supercenter rallied to a one-year
high after shareholder Casino Group agreed to sell its majority
stake in the hypermarket operator to TCC Group, but public
holidays in the region kept investors cautious.
    Bangkok's SET index traded 0.06 percent higher at
1,307.08, building on Friday's third straight gain.
    Big C shares jumped more than 10 percent at one point after
France's Casino agreed to sell its stake to Thai tycoon Charoen
Sirivadhanabhakdi's TCC Group. 
    The news also sent shares of TCC Group's consumer
conglomerate Berli Jucker higher by 11.4 percent on
expectation the company will benefit from the acquisition.
    Broader market sentiment remained subdued after a weak
session in U.S. stocks on Friday. 
    Asian shares got off to a rocky start after mixed U.S. jobs
data helped sink shares on Wall Street. 
    "Foreign capital will likely slow down as major Asian
markets are closed," said broker Maybank Kim Eng Securities.
    It expected the index to move in a narrow range of
1,300-1,315.
    Investors are monitoring key indicators to gauge the
direction of U.S. interest rates, including U.S. Federal Reserve
Chair Janet Yellen's testimony later this week. 
    All share markets in Southeast Asia, except Thailand, are
closed on Monday for the Lunar New Year holiday. A weaker U.S.
currency and subdued expectations for a Fed rate hike this year
had helped bolster sentiment in the region.
    
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  Change at 0426 GMT                                       
  Market               Current    previous close  Pct Move
  Bangkok              1307.08    1306.29         0.06
 
 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)