SE Asia Stocks-Most retreat; Thai shares extend losses

martes 25 de marzo de 2014 01:47 GYT
 

BANGKOK, March 25 (Reuters) - Thai stocks fell to their
lowest level in more than two weeks on Tuesday as rising
political uncertainty weighed on the outlook for the domestic
economy and corporate earnings, while other Southeast Asian
markets retreated amid global weaknesses.
    The Thai SET index was down 0.3 percent at 1,346.59,
falling at one point to 1,341.60, its lowest since March 10. It
had fallen about 2 percent over the past five sessions from a
more than three-month high hit on March 17.
    Losers included hotelier Central Plaza Hotel 
amid concerns about the impact of political uncertainty on hotel
occupancy rates, traders said. Tourism shares, like carrier Thai
Airways International, also came under selling
pressure.
    "Overall, the market is losing its strong momentum shown in
recent weeks and we believe more clarity on local politics is
needed for another round of strength," strategists at broker KGI
Securities wrote in their daily strategy report.
    Anti-government demonstrators in Thailand resumed street
protests on Monday after lying low for weeks, piling pressure on
increasingly beleaguered Prime Minister Yingluck Shinawatra, who
is expected to face impeachment within days. 
    Stocks in Singapore edged down 0.3 percent,
reversing from Monday's 1.3 percent rise. Investors sold recent
gainers, sending United Overseas Bank Ltd off a
one-month high hit in the previous session.
    The Philippines lost about 1 percent after snapping
three sessions of losses on Monday, Malaysia was a tad
lower after climbing to a more than two-week high in the
previous session, and Indonesia eased after gaining on
Monday amid foreign investors-led buyers.
    Vietnam pared early losses and was up 0.3 percent,
while MSCI's broadest index of Asia-Pacific shares outside Japan
 dipped 0.1 percent.
    Asian shares were in a defensive mode after Wall Street fell
overnight and U.S. short-term bond yields rose to six-month
highs, though still-vague hopes of a new stimulus plan in China
could improve investor sentiment. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0504 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   400.55        401.62       -0.27 
 Singapore          3105.19       3111.83       -0.21
 Kuala Lumpur       1830.18       1833.85       -0.20
 Bangkok            1346.59       1349.90       -0.25
 Jakarta            4700.41       4720.42       -0.42
 Manila             6334.40       6400.67       -1.04
 Ho Chi Minh         609.14        607.55       +0.26
 
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.  

 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)