July 6, 2016 / 4:56 AM / 2 years ago

SE Asia Stocks-Vietnam, Thailand fall on profit-taking

By Krishna V Kurup
    July 6 (Reuters) - Vietnam shares retreated on Wednesday
after hitting an eight-year high in the previous session as
investors booked profits, while Thailand was marginally down,
led by losses in energy and financial stocks.
    But activity across much of the region was subdued as most
markets were closed for Eid al Fitr.
    Asian share markets turned tail as fears over instability in
the European Union returned with a vengeance, sending the pound
to three-decade lows and hammering risky assets of all
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was down 1.7 percent at 0420 GMT.
    Concerns that central banks might not be able to soften this
latest blow to global growth hit oil prices hard. U.S. crude
 was down 31 cents at $46.29 a barrel, after a 5 percent
fall in the previous session as U.S. investors digested news of
an OPEC increase in production after the July 4 holiday. 
    Investors rushed to safe-haven assets such as sovereign debt
and gold. Gold climbed to its highest in more than two years
early on Wednesday. 
    Vietnam's benchmark stock index was down 0.2 percent
after seven sessions of gains. Healthcare and energy stocks led
the decline, with Petrovietnam Gas Joint Stock Corp and
Dhg Pharmaceutical Joint-Stock Co down 0.8 percent and
1.5 percent, respectively.
    Thai shares were headed for their second straight
loss after five sessions of gains. Investors are trading to
"take profit" for a while, said an analyst with KGI Securities
Thailand, adding that the "Thai market will perform above 1,450
    Indorama Ventures Pcl rose 2.6 percent, while PTT
PCL fell nearly 1 percent.
    Singapore, Malaysia, Indonesia and
Philippine stock markets were closed on Wednesday for Eid
al Fitr.
    For Asian Companies click;  

  STOCK MARKETS                                           
  Change at 0420 GMT                                      
  Market              Current       Prev close   Pct Move
  Bangkok             1449.24       1450.07      -0.06
  Ho Chi Minh         649.42        650.88       -0.22
  Change on year                                 
  Market              Current       End 2015     Pct Move
  Bangkok             1449.24       1288.02      12.52
  Ho Chi Minh         649.42        579.03       12.16

 (Reporting by Krishna V Kurup in Bengaluru; Editing by
Subhranshu Sahu)
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