SE Asia Stocks -Indonesia off highs; Thai index up on low free float stocks
BANGKOK, Jan 26 (Reuters) - The Indonesian key stock index retreated on Monday from a record close in the previous session as investors booked quick profits while the Thai benchmark eked out further gains, breaching the key 1,600 level, amid selective trading in low free-float stocks. Stocks in Singapore and Malaysia snapped rising streaks, with others markets trimming gains as global markets turned cautious after Greece's Syriza party promised to roll back austerity measures after its victory in a snap election. Jakarta's composite index fell almost 2 percent to 5,222.72, coming off a record close of 5,323.89 hit on Friday, when investors cheered the European Central Bank's larger-than-expected bond-buying programme. Broker BNI Securities said in a report that JCI is "prone to profit taking". Shares of Bank Mandiri dropped 3.5 percent after a surge on Friday to a record closing high amid a rights offering planned in the next six months and as investors awaited the quarterly financial results of banks. Bangkok's SET index was up 0.4 percent amid trading in shares of Bank of Ayudhya and CIMB Thai Bank , among stocks which have a small portion of publicly-traded shares. Bank of Ayudhya is 76.88 percent owned by Japan's Mitsubishi UFJ Financial Group (MUFG) while CIMB Thai Bank is 93.7 percent owned by Malaysia's CIMB Bank Bhd, stock exchange data shows. Brokers expected weak trading sentiment in the near term. "Concerns about Greece exiting the euro zone could rise and lead to volatility in equities, commodities and FX markets in the near-term," broker KGI Securities said in a report. Singapore's Straits Times Index eased 0.33 percent after a fifth straight gain on Friday to the highest since May 2013, while Malaysia's index fell 0.5 percent, poised to snap three sessions of gains. Stocks in the Philippines recovered from early losses while Vietnam traded nearly flat after slipping at one point. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0722 GMT Market Current Prev Close Pct Move Singapore 3400.23 3411.50 -0.33 Kuala Lumpur 1793.89 1803.08 -0.51 Bangkok 1604.12 1598.33 +0.36 Jakarta 5222.72 5323.88 -1.91 Manila 7586.67 7548.93 +0.50 Ho Chi Minh 582.86 582.38 +0.08 (Reporting by Viparat Jantraprap; Additional reporting by Fransiska Nangoy in Jakarta; Editing by Anupama Dwivedi)
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