SE Asia Stocks - Thai shares fall; Singapore, Vietnam range-bound
BANGKOK, July 29 (Reuters) - Stocks in Singapore and Vietnam were range-bound on Tuesday, with the strength in Asian markets lifting overall sentiment, while construction shares in Thailand pulled down the main index as investors awaited details of the government's infrastructure plan. Investors in Bangkok's SET index weighed in a possible delay in the decision of the junta's investment plan for infrastructure projects, which markets expect to be worth about 2.4 trillion baht ($75.47 billion) over seven years from 2015. The National Council for Peace and Order holds a weekly meeting with key ministries, including the Ministry of Transport, on Tuesday. The market saw a bout of selling in recent gainers such as contractors Ch Karnchang, Italian Thai Development and Sino Thai Engineering and Construction. The SET index fell 0.5 percent, extending the falls of the past two sessions. Developer Sansiri plunged 12 percent after announcing a rights issue, which would dilute the existing share base. Investors were expected to take a pause ahead of key macroeconomic events in the United States, such as the meeting of the Federal Reserve and GDP data, brokers said. "The Fed seems to be the most important this week. Market may tread water until seeing the results," strategists at broker KGI Securities wrote in a report. Fed officials could make subtle yet telling changes to their policy statement this week, as they buy more time to evaluate U.S. economic strength and plan how and when to eventually raise interest rates. Singapore's Straits Times Index edged higher, resuming trade after a market holiday on Monday. Vietnam's VN Index added 0.13 percent, with dairy products maker Vinamilk rising after a dividend payment plan. Asian shares touched fresh three-year highs on Tuesday as investors in the region drew encouragement from a rally in Chinese markets, though caution was widespread given the torrent of U.S. economic news still to come this week. The Philippines and Malaysia are shut for a market holiday, and will reopen on Wednesday. Indonesia is closed through the week. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0520 GMT Market Current Prev Close Pct Move TR SE Asia Index* 444.27 444.76 -0.11 Singapore 3356.74 3350.17 +0.19 Bangkok 1530.56 1538.13 -0.49 Ho Chi Minh 590.20 589.45 +0.13 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. ($1 = 31.8000 Thai Baht) (Reporting by Viparat Jantraprap; Editing by Prateek Chatterjee)
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