SE Asia Stocks - Thai index hits 2-week low on telecoms sell-off

miércoles 18 de junio de 2014 07:17 GYT
 

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.    

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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)