SE Asia Stocks - Thai shares retreat; others mostly higher

jueves 12 de marzo de 2015 03:08 GYT

BANGKOK, March 12 (Reuters) - Thai shares retreated on
Thursday as investors weighed in the risk of lower interest
rates on earnings of commercial banks while most sharemarkets in
Southeast Asia rebounded as easing monetary policies in Asia
helped lift risk asset sentiment.
    Bangkok's key SET index was down 0.35 percent at
midday, giving up an almost 1 percent gain on Wednesday after
the central bank surprised the market with an interest rate cut
to help revive the slowing local economy. 
    Large-cap banks such as Siam Commercial Bank and
Krung Thai Bank reversed Wednesday's gains.
    Siam Commercial Bank cut its lending and deposit rates on
Thursday following the central bank's interest rate decision.
    "We should keep a close eye on the decisions of commercial
banks to lower their interest rates or not. However, interest
rates are unlikely to be lowered by more than 25 bps, in order
to maintain the net interest margin, limiting downside risks to
big banks," broker Maybank Kim Eng Securities said in a report.
    Stocks in Malaysia recouped some losses over the
past three sessions, while Indonesia rebounded from a
more than two-week closing low on Wednesday and the Philippines
 gained after the previous day's fall.
    A surprise interest rate cut by South Korea's central bank
on Thursday helped lift an index of Asian stocks away from the
previous session's seven-week lows, while the prospect of higher
U.S. interest rates buoyed the dollar. 
    Stocks in Vietnam eked out small gains. Singapore
 is set to extend losses for a fourth session after a
moderate gain in early trading.
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 Change at 0646 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3362.90       3378.59       -0.46
 Kuala Lumpur       1788.03       1778.16       +0.56
 Bangkok            1538.41       1543.84       -0.35
 Jakarta            5432.34       5419.57       +0.18
 Manila             7814.93       7790.70       +0.31
 Ho Chi Minh         587.23        586.54       +0.12
 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)