October 13, 2016 / 11:07 AM / in a year

SE Asia Stocks-Thailand snaps four-day losing streak

By Susan Mathew
    Oct 13 (Reuters) - Thai stocks closed nearly half a percent
higher on Thursday, snapping a four-day losing streak, while
most other Southeast Asian markets declined on soft Chinese
    The Thai stock index had fallen every day this week 
following a statement by the palace on Sunday that King Bhumibol
Adulyadej was in an "unstable condition" after receiving
haemodialysis treatment. 
    The palace said late on Wednesday that the health of the
88-year-old King had "overall not yet stabilised". 
    Thursday's gains were led by consumer staples and
industrials, with Charoen Pokphand Foods Pcl and
Airports of Thailand Pcl rising 5.2 percent and 1.7
percent respectively.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 fell just over 1 percent, touching its lowest
since Sept. 19, after Chinese data showed a sharp decline in
exports, reviving concerns about the health of the world's
second-biggest economy.
    China's exports fell 10 percent in September from a year
earlier, far worse than the expected 3 percent fall, while
imports unexpectedly shrank after picking up in August. That
left the trade surplus for the month at $41.99 billion, compared
with a $53 billion expected by analysts. 
    Risk appetite also remained subdued by a report that the
Bank of Japan was likely to trim its inflation forecast for the
next fiscal year in a quarterly review. 
    "It is an amalgamation of uncertainty and unfavourable
market conditions right now. The markets are reacting to a very
gloomy sentiment," said Victor Felix, an analyst with
Manila-based AB Capital Securities.
    The Manila market fell for the seventh consecutive
session to post its lowest close since late May. 
    Financial and real estate sectors led the fall, with
property developer SM Prime Holdings Inc and real
estate conglomerate Ayala Land Inc shedding over 5 and
4 percent respectively.
    Singapore stocks fell to their lowest in three
months, pulled down by industrials and consumer services.
    Indonesia declined 0.5 percent, while Vietnam 
posted a 0.4 percent gain.                
For Asian Companies click;  

 STOCK MARKETS                                     
 Change on day                                     
 Market                   Current  Previous Close  Pct Move
 Singapore                2805.48  2813.71         -0.29
 Bangkok                  1412.82  1406.18         0.47
 Manila                   7312.18  7429.82         -1.58
 Jakarta                  5340.4   5364.611        -0.45
 Kuala Lumpur             1665.02  1667.03         -0.12
 Ho Chi Minh              685.23   682.45          0.41
 Change on year                                    
 Market                   Current  End 2015        Pct Move
 Singapore                2805.48  2882.73         -2.68
 Bangkok                  1412.82  1288.02         9.69
 Manila                   7312.18  6952.08         5.18
 Jakarta                  5340.4   4593.008        16.27
 Kuala Lumpur             1665.02  1692.51         -1.62
 Ho Chi Minh              685.23   579.03          18.34
 (Reporting by Susan Mathew in Bengaluru; Editing by Subhranshu
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