SE Asia Stocks - Thai shares underperform on week
BANGKOK, Aug 1 (Reuters) - The Thai index ended modestly lower on Friday as gains in banking shares overshadowed losses in big-cap energy while the Philippine benchmark recouped early losses amid inflows into large-caps, led by Philippine Long Distance Telephone. The SET index was down 0.15 percent on the day and 2.8 percent lower on the week, making it Southeast Asia's worst performer. It fell 1 percent in early trade as a strong sell-off in global stocks dented sentiment across the region. Weak global oil prices weighed on energy shares, with PTT falling for a third straight day. Shares of Krung Thai Bank were among the outperformers amid a positive sign for Thailand's political situation and economy. Investors await the formation of an interim government later this month after Thailand on Thursday set up an interim legislature which will appoint a prime minister to choose a 35-member cabinet. Most other markets in Southeast Asia recorded a weak performance on the day and were little changed on the week. The Philippine index bucked the trend on Friday, rising 0.4 percent after a nearly 1 percent drop earlier in the session. Shares of PLDT hit their highest since August and Robinsons Land Corp jumped 2.7 percent as foreign investors were net buyers of the stocks, stock exchange data showed. 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* 436.35 440.11 -0.85 Singapore 3344.42 3374.06 -0.88 Kuala Lumpur 1863.34 1871.36 -0.43 Bangkok 1500.20 1502.39 -0.15 Manila 6894.23 6864.82 +0.43 Ho Chi Minh 593.90 596.07 -0.36 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 436.35 388.37 +12.35 Singapore 3344.42 3167.43 +5.59 Kuala Lumpur 1863.34 1866.96 -0.19 Bangkok 1500.20 1298.71 +15.51 Jakarta -- 4274.18 +19.06 Manila 6894.23 5889.83 +17.05 Ho Chi Minh 593.90 504.63 +17.69 * 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 = 32.1900 Thai baht) (Reporting by Viparat Jantraprap; Editing by Sunil Nair)
© Thomson Reuters 2016 All rights reserved.