SE Asia Stocks-Thailand falls nearly 3 pct on fund selling

lunes 5 de septiembre de 2016 01:00 GYT

By Aparajita Saxena
    Sept 5 (Reuters) - Thai shares fell about 3 percent to their
lowest in 7 weeks on Monday following a spate of domestic fund
selling last week, while Singapore stocks rose as much as 1.5
percent with financials leading the gains.
    Asian shares rose, getting a tailwind from gains on Wall
Street after a weaker-than-expected U.S. jobs report prompted
markets to trim expectations that the Federal Reserve would hike
interest rates as early as this month. 
    "September is a very event-heavy month," said Victor Felix,
an analyst with AB Capital Securities Inc in Manila, referring
to the meetings of the Fed, OPEC, the Bank of England and the
Bank of Japan next week, and the G20 this month. 
    "Don't think there will be any concrete actions from the BOJ
and BOE meetings. They will be talking about how their fiscal
measures aren't working, and will continue to discuss easing
measures, which will be good for equities."
    A majority of economists expect the BOJ will ease policy
further next month, a Reuters poll found, while many respondents
suspect a change in its inflation target terminology is likely.
    "We're generally optimistic on the trading outlook for
Southeast Asian stocks this week," Felix said.
    Thailand's SET index was down 1.4 percent as of 0349
GMT after posting its biggest intraday percentage fall since
June 24.
    "Looking at foreign markets and the Fed's interest rate
outlook, I think it's not an external factor but rather an
internal one. What we see now is selling from institutional
investors," said Canakas Chirasevenupraphund, head of research
of Capital Nomura Securities.
    Institutional investors sold a net 4.86 billion baht 
($140.42 million) on Friday, and sold a total of 9.27 billion
baht last week.
    Meanwhile, Singapore's Straits Times Index was headed
for its first gain in seven sessions, with index heavyweights
DBS Group Holdings Ltd and United Overseas Bank Ltd
 among the biggest gainers.
    Telecom stocks continued their slides after Australia's TPG
Telecom submitted expressions of interest to the
Singapore telecommunications regulator in an auction of radio
airwaves later this year that is aimed at establishing a fourth
mobile operator. 
    For Asian Companies click;  
  STOCK MARKETS                                                
  Change at 0349 GMT                                           
  Market               Current       Previous Close   Pct Move
  Singapore            2838.24       2803.92          1.22
  Bangkok              1502.95       1521.48          -1.22
  Manila               7787.99       7807.42          -0.25
  Jakarta              5390.588      5353.461         0.69
  Kuala Lumpur         1676.83       1671.79          0.30
  Ho Chi Minh          661.9         669.19           -1.09
  Change so far this                                  
  Market               Current       End 2015         Pct Move
  Singapore            2838.24       2882.73          -1.54
  Bangkok              1502.95       1288.02          16.69
  Manila               7787.99       6952.08          12.02
  Jakarta              5390.588      4593.008         17.37
  Kuala Lumpur         1676.83       1692.51          -0.93
  Ho Chi Minh          661.9         579.03           14.31

 (Reporting by Aparajita Saxena in Bengaluru, Additional
reporting by Satawasin Staporncharnchai; Editing by Subhranshu