SE Asia Stocks-Mixed amid Fed stimulus concerns; Thai stocks fall after rate cut

Wed May 29, 2013 11:27am BST

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BANGKOK, May 29 (Reuters) - Thai stocks pared early gains to
fall on Wednesday amid profit taking in recently-rallying bank
 and property shares following an expected
interest rate cut while concerns that the U.S. Federal Reserve
could reduce monetary stimulus weighed on the region.
    The Thai main SET index was down 1.1 percent at
1,601.61 after the country's central bank cut its benchmark
interest rate by 25 basis points as expected. 
    Macquarie Equities Research said the Thai stock market
looked expensive at 14 times forward price-to-earnings, based on
its coverage of 71 listed companies. But the broker maintained
its 'neutral' rating on the market.
    "... The multiples are still underpinned by what we view as
robust earnings growth, and while there are other factors to
consider, most notably policy risks, these still appear as risks
rather than realities," it said in a report dated May 28.
    Philippine shares outperformed the region, with the main
index up 1.6 percent at 7,228.57.
    The index had risen a modest 0.2 percent on Tuesday on
bargain hunting after a nearly 4 percent drop over the past
three sessions as weak global sentiment prompted selling in
Southeast Asia's second-best performer.
         
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   438.97        446.21       -1.62
 Singapore          3367.47       3406.08       -1.13
 Kuala Lumpur       1783.47       1776.16       +0.41
 Bangkok            1601.61       1619.57       -1.11
 Jakarta            5200.69       5176.23       +0.47
 Manila             7228.57       7113.22       +1.62
 Ho Chi Minh         515.09        516.33       -0.24
 
 Change on year
 Market             Current     End prev yr    Pct Move
 TR SE Asia Index*   438.97        424.10       +3.51
 Singapore          3367.47       3167.08       +6.33
 Kuala Lumpur       1783.47       1688.95       +5.60
 Bangkok            1601.61       1391.93      +15.06
 Jakarta            5200.69       4316.69      +20.48
 Manila             7228.57       5812.73      +24.36
 Ho Chi Minh         515.09        413.73      +24.50
 
* The Thomson Reuters South East Asia Index               is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
    
 Stock Market Volume (shares)
 Market          Current Volume    Average Volume 30 days
 Singapore         279,712,800          272,313,503      
 Kuala Lumpur      151,129,200          176,124,667      
 
 Bangkok             9,470,203            9,959,483      
 Jakarta         5,237,461,500        4,524,518,467    
 Manila                101,373              104,894    
 Ho Chi Minh            99,723               54,382
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