SE Asia Stocks - Thai index at 5-week low; Vietnam up after dong devaluation

jueves 7 de mayo de 2015 02:08 GYT
 

BANGKOK, May 7 (Reuters) - Southeast Asian stock markets
tracked global equities lower on Thursday, with Thai consumer
shares underperforming after weak consumer confidence data, but
Vietnam's benchmark bucked the trend after its central bank
devalued the dong.
    Bangkok's SET index was down 0.8 percent at
1,507.59, the lowest since April 1. Top large-cap losers
included shares of grocery retailer Big C Supercenter 
and convenience store operator CP All.
    Data showed consumer confidence in Thailand fell for a
fourth straight month in April, reflecting worries about
economic recovery, low commodity prices and weak exports. 
 
    Broker Maybank Kim Eng Securities expected a small market
rebound to 1,525-1,530, helped by selective buying in dividend
yielding stocks.
    "However, upside is also limited as markets still cannot see
any clear signs of economic recovery," it said.
    Vietnam's VN index recovered from a fall on Wednesday
and rose 0.8 percent. Banking shares gained, led by third 
biggest lender BIDV, after the central bank allowed a
small depreciation in the dong.  
    "This shift in the reference rate should be seen as a
proactive measure to help narrow the trade deficit and to arrest
the slight deterioration in Vietnam's balance of payments
position," HSBC strategists wrote in a report.
    In Kuala Lumpur, banking shares were mixed ahead of the
central bank's interest rate decision later in the day. Maybank
 rose 0.5 percent while AMMB Holdings fell
0.6 percent. 
    Bank Negara Malaysia is expected to keep its benchmark rate
unchanged at 3.25 percent, as policymakers see limited downside
risk to the economy, a Reuters poll showed. 
    Singapore's index hit the lowest since March 26,
Indonesia is set to end a three-day winning streak and
the Philippines extended loss for a second trading day.
    Asian stocks fell on Thursday while U.S. stocks ended weaker
on Wednesday after U.S. Federal Reserve Chair Janet Yellen
warned of high valuations, adding to anxiety about future
interest rates and a global bond rout.  
        
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0548 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3432.57       3459.79       -0.79
 Kuala Lumpur       1817.00       1820.97       -0.22
 Bangkok            1507.58       1519.88       -0.81
 Jakarta            5169.11       5184.95       -0.31
 Manila             7813.56       7873.64       -0.76
 Ho Chi Minh         553.45        549.30       +0.76
 
 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)