SE Asia Stocks - Thai index hits 2-week low on telecoms sell-off
BANGKOK, June 18 (Reuters) - The Thai index hit a two-week low on Wednesday, with investors dumping top telecoms shares after an auction of mobile licenses was suspended, while shares in the Philippines recouped most early losses ahead of a central bank meeting on interest rates. The Thai SET index ended down 1.3 percent at 1,451.36, its lowest since June 4. Shares of top mobile phone firm Advanced Info Service dropped 3.2 percent in brisk selling, including a number of large block deals. Shares of AIS shareholder Shin Corporation and the country's third largest telecoms firm True Corporation fell more than 2 percent each and were among the most actively traded. Thailand's telecommunications regulator on Tuesday temporarily suspended an auction of fourth-generation (4G) mobile licences saying more time is needed to work out the details of the process, and to ensure transparency. The Philppine main index ended nearly flat at 6,703.13, falling at one point to its lowest since April 29. The Philippine central bank will likely keep rates unchanged at its policy meeting on Thursday after growth unexpectedly slowed in the first quarter, a Reuters poll showed, but quickening inflation may lead to a rate increase as early as next month. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 422.16 424.87 -0.64 Singapore 3276.80 3274.44 +0.07 Kuala Lumpur 1876.58 1874.60 +0.11 Bangkok 1451.36 1471.02 -1.34 Jakarta 4887.86 4909.52 -0.44 Manila 6703.13 6704.93 -0.03 Ho Chi Minh 570.03 572.25 -0.39 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 422.16 388.37 +8.70 Singapore 3276.80 3167.43 +3.45 Kuala Lumpur 1876.58 1866.96 +0.52 Bangkok 1451.36 1298.71 +11.75 Jakarta 4887.86 4274.18 +14.36 Manila 6703.13 5889.83 +13.81 Ho Chi Minh 570.03 504.63 +12.96 * 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 Sunil Nair)
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