SE Asia Stocks - Fall; Thai exporters up on weak baht

miércoles 6 de mayo de 2015 03:39 GYT

BANGKOK, May 6 (Reuters) - Southeast Asian stock markets
fell on Wednesday as a selloff in sovereign bonds globally
dented sentiment across Asia, but shares of Thai electronic
component exporters rose due to a weaker baht.
    The Thai SET index eased 0.5 percent as losses in
banking shares due to concerns over the impact of a weak
domestic economy on earnings overshadowed gains in exporters.
    Shares of electronic components exporter Delta Electronics
 jumped 4.2 percent, the second best performer on
MSCI's index of Thailand. 
    Shares of Hana Microelectronics Pcl gained 3.4
percent while KCE Electronics Pcl rose 0.9 percent.
    The baht lost as much as 1.1 percent to 33.32 per
dollar, its weakest since January 2010 after the Thai central
bank unveiled measures on Thursday to encourage more capital
outflows, a day after it unexpectedly cut its key policy rate
    "The only positive factor is the latest downward adjustment
of policy rate to 1.5 percent, which has yet to be seen as to
its impact on the economy. So it should not be able to outweigh
the negative global factors," broker KGI Securities said.
    Trading was subdued as the market reopened after holidays
from Friday to Tuesday. About 3.8 billion shares changed hands,
34 percent of a full-day average over the past 30 sessions.
    Singapore's Straits Times Index fell for a third
straight day and Malaysia's key index hit its lowest
since March 25. Stocks in Indonesia, the Philippines
 and Vietnam were weaker in range-bound trade.
    Singapore-based NRA Capital said it expected shares in blue
chip firms to continue to face selling pressure on the back of
Wall Street's correction. Shares of Singapore Telecommunications
 slipped 0.7 percent, a fourth day of decline. 
    "The signs of the strain in China and America's economic
performances are a reminder that there will be hiccups along the
way to economic growth," it said in a report.
    Asian stocks stumbled on Wednesday in step with weak U.S.
and European markets as equities investors were spooked by a
vicious selloff in sovereign bonds globally. 
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 Change at 0713 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3454.87       3471.19       -0.47
 Kuala Lumpur       1815.99       1827.42       -0.63
 Bangkok            1519.35       1526.74       -0.48
 Jakarta            5150.47       5160.31       -0.19
 Manila             7854.07       7919.21       -0.82
 Ho Chi Minh         548.49        552.65       -0.75
 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)