SE Asia Stocks -Mostly weaker; Malaysia at over 1-week low

martes 22 de septiembre de 2015 02:40 GYT
 

BANGKOK, Sept 22 (Reuters) - Southeast Asian stock markets
mostly fell in range-bound trading on Tuesday, with Malaysia's
key index at a more than one-week low while investors
consolidated recent gains in a holiday-shortened trading week.
    The Kuala Lumpur composite index was down 0.2
percent at 1,636.70, the lowest since Sept. 14. Trading volume
was only 28 percent of the full-day average over past 30 days
ahead of a market holiday on Thursday.
    The market was technically weak, said Broker Maybank Kim Eng
in a report, adding the decline of the index from a high of
1,691.93 on Sept. 17 had been drastic and the index tone had
turned swiftly more negative since then.
    The Jakarta composite index was down 0.5 percent,
while Singapore's Straits Times Index was up 0.7 percent,
with trading in both stock markets thin ahead of a market
holiday on Thursday.
    "With Wall Street's overnight gains, sentiment will likely
continue to be cautiously optimistic today," said broker NRA
Capital referring to the Singapore stock market. 
    The Thai SET index gave up early small gains and was
down 0.2 percent at midday.
    Shares of Sahaviya Steel Industries plunged 20
percent on resuming trading after the steel firm and its three
creditors said they agreed to consider options to restructure
debt worth over 50 billion baht ($1.40 billion). 
    Shares of Krung Thai Bank and Siam Commercial Bank
, among the creditors, extended their slides amid
concerns about the impact of loans to the ailing steel firm.
    "SSI's decision to default on 50 billion baht of loan from
three major banks is being downplayed by banks, analysts and SSI
as nothing, not a problem. Fact is that banks will make
additional provisions this quarter," said strategists at broker
SCB Securities in a report.
    Stocks in the Philippines hit a more than one-week
low as investors awaited the central bank's interest rate
decision later in the week. 
    Vietnam's index was nearly flat near its highest
level since Sept. 10 amid forecasts of strong economic growth in
the country. 
    Asian shares rose and the dollar held steady as U.S. markets
bounced back and the European Central Bank said it was prepared
to ease monetary policy further. 
       
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0610 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2901.85       2882.27       +0.68
 Kuala Lumpur       1636.70       1639.47       -0.17
 Bangkok            1389.72       1392.73       -0.22
 Jakarta            4354.59       4376.08       -0.49
 Manila             7047.14       7092.41       -0.64
 Ho Chi Minh         572.26        572.12       +0.02
 
 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)