October 12, 2016 / 10:22 AM / 2 years ago

SE Asia Stocks-Thai stocks sink to 7-month lows on concerns over security, king

By Susan Mathew
    Oct 12 (Reuters) - Thai stocks fell nearly 7 percent on
Wednesday to their lowest in seven months after police warned of
a bomb plot in Bangkok and on concerns about the health of
88-year-old King Bhumibol Adulyadej.
    Police said on Tuesday they have increased security at major
landmarks in the capital, at airports and in surrounding
provinces following reports of bomb plots just weeks after
deadly attacks rocked the country's south. 
     The tourism industry, which accounts for about 10 percent
of Thailand's economy, has weathered more than a decade of
political unrest, including two military coups and a wave of
bombings in August. 
    The SET index skidded for a fourth straight session
and ended down 2.5 percent. Basic materials and telecoms led the
    Thailand's king, the world's longest reigning monarch, is in
an unstable condition after receiving haemodialysis treatment,
the palace said on Sunday. 
    "There has not been any news from the palace since Sunday.
If there is an information vacuum then the event risk would
increase," a Singapore-based economist, who declined to be
identified, told Reuters.
    Anxiety over the king's health and an eventual succession
has formed the backdrop to more than a decade of bitter
political divide in Thailand.
    Chemicals producer PTT Global and mobile operator
Advanced Info Service PCL shed 3.8 percent and 2
percent. respectively.
    Most other Southeast Asian markets also ended lower,
tracking Asian peers, on subdued risk sentiment as expectations
that U.S. Federal Reserve would hike interest rates in December
lifted the dollar and pushed up bond yields overnight . 
    "The speculation is that a hike in interest rates would lead
to some of the flow destruction in the markets and therefore, it
adds some pressure on sentiment," said Taye Shim, an analyst
with Daewoo Securities in Indonesia.
    Sentiment also took a hit as a dour start to Wall Street's
corporate earnings season knocked U.S. stocks. 
    The main index in the Philippines closed down 1.2
percent, falling to its lowest in four months, with financials
and energy leading the fall.
    Singapore shares fell 1.5 percent to their lowest in
nearly four weeks.  
For Asian Companies click;  

  Change on day                                         
  Market            Current       Previous     Pct Move
  Singapore         2813.71       2856.13      -1.49
  Bangkok           1406.18       1442.21      -2.50
  Manila            7429.82       7520.82      -1.21
  Jakarta           5364.611      5381.997     -0.32
  Kuala Lumpur      1667.03       1668.72      -0.10
  Ho Chi Minh       682.45        682.36       0.01
  Change on year                               
  Market            Current       End 2015     Pct Move
  Singapore         2813.71       2882.73      -2.39
  Bangkok           1406.18       1288.02      9.17
  Manila            7429.82       6952.08      6.87
  Jakarta           5364.611      4593.008     16.80
  Kuala Lumpur      1667.03       1692.51      -1.51
  Ho Chi Minh       682.45        579.03       17.86
 (Reporting by Susan Mathew in Bengaluru; Editing by Kim
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