SE Asia Stocks - S'pore retreats; Thai CP Foods outperforms

miércoles 26 de agosto de 2015 00:46 GYT

BANGKOK, Aug 26 (Reuters) - Southeast Asian stock markets
were mixed on Wednesday, with Singapore retreating after the
city-state called early polls but select stocks in Thailand and
Indonesia outperformed after share buyback schemes.
    Singapore's Straits Times Index slipped 0.3
percent, giving up the rebound on the day before. Investors
quickly cashed in recent gainers such as DBS Group Holdings
 which fell 1 percent after Tuesday's 1.4 percent rise.
    "Investors in Singapore will also be a little distracted by
the confirmation of Polling Day on Sept. 11 and the speed at
which more new candidates will be announced," broker NRA Capital
said in a report.
    Singapore said on Tuesday it will hold a general election on
Sept. 11, more than a year before a deadline for the next polls,
seen riding the feel-good factor of the city-state's 50th
birthday amid slowing economic growth. 
    Thai SET index was up 0.3 percent, led by a 6.9
percent rally in shares of Charoen Pokphand Foods,
which announced a share buyback plan. 
    Shares of PTT Global Chemical added 0.5 percent
after a 9.7 percent surge on Tuesday following a share
repurchase programme. 
    Investors were still reluctant to build positions in risk
assets due to global instability, brokers said.
    "Continuing concerns about global economic slowdown and a
mixed view on the U.S. FOMC interest rate decision still imply
further foreign outflows, capping the SET upside in the
near-term," said strategists at broker KGI Securities.
    Jakarta composite index was down 0.4
    Shares of Semen Indonesia and Bank Mandiri
, which were among state-controlled firms rallying on
Tuesday on share buyback activities, rose 6.5 percent and 0.6
percent, respectively.
    Indexes in Malaysia and Vietnam both extended
the rebound on Tuesday. The Philippines reversed its
early gains and traded a tad down 0.1 percent.
    Asian shares struggled on Wednesday as investors feared
fresh rate cuts in China would not be enough to stabilise its
slowing economy or halt a stock collapse that is wreaking havoc
in global markets. 
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 Change at 0431 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2876.97       2886.29       -0.32
 Kuala Lumpur       1576.37       1563.94       +0.79
 Bangkok            1328.91       1323.88       +0.34
 Jakarta            4210.63       4228.50       -0.42
 Manila             6802.97       6830.34       -0.14
 Ho Chi Minh         537.36        529.98       +1.39
 (Reporting by Viparat Jantraprap; Editing by Gopakumar Warrier)