SE Asia Stocks-Thailand at one-week low, Singapore falls

Thu Jul 2, 2009 11:19am BST
 
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 * Singapore dragged down by financials, property
 * Energy plays hit Thailand as oil price falls
 * Indonesia, Philippines, Vietnam higher
 By Arada Therdthammakun
 BANGKOK, July 2 (Reuters) - Southeast Asian stock markets
were mixed on Thursday, with Singapore snapping a two-day
winning streak, hurt by losses in big-cap financials and
property, while Thailand hit a one-week low, pulled down by oil
stocks.
 Singapore's benchmark index .FTSTI lost 1.35 percent,
dragged down by DBS Group (DBSM.SI), Southeast Asia's largest
bank, which fell 2.84 percent, while Thailand's index .SETI
fell 1.85 percent to a one-week low, with top energy firm PTT
PTT.BK off 2.1 percent.
 Trading was cautious ahead of U.S. job data, with the
unemployment rate forecast to rise to a 26-year high of 9.6
percent. The report is expected to depict an economy still
wallowing in recession, but could show the pace of job losses
has slowed. [ID:nN01511504]
 "Selling orders in some markets continued after last week's
rallies, while overall sentiment remains under pressure due to
worries about the economic recovery," said Kosin Sripaiboon,
head of research at UOB Hay Hian Securities.
 "The markets should remain volatile and in a narrow range
tomorrow, with investors focusing on the U.S. jobs data," he
added.
 Other decliners in Singapore included property firm
Capitaland (CATL.SI), Southest Asia's top developer, down 3.2
percent, and United Overseas Bank (UOBH.SI), down 1.23 percent.
 Sembcorp Marine (SCMN.SI), the world's second-largest rig
builder, rose as much as 1.45 percent after its wholly owned
unit, Jurong Shipyard, secured a rig order worth $237.3 million
from Oban B Ltd. [ID:nSIN465917]
 In Bangkok, falls in heavyweight energy shares dragged the
market down, with PTT Exploration and Production PTTE.BK
easing 3.4 percent, while PTT Chemical PTTC.BK fell 5.3
percent and top refiner Thai Oil TOP.BK dropped 5.6 percent.
 Oil prices were little changed, just above $69 a barrel,
after falling in the previous session on data showing a
larger-than-expected increase in U.S. gasoline stocks, which
dented hopes of a recovery in demand. [nSYD481718]
 Elsewhere in the region, Malaysia .SETI closed down 0.06
percent, with decliners led by a 2.6 percent fall in Maybank
(MBBM.KL), the country's largest lender, and a 6.8 percent drop
in property firm UEM Land (ULHB.KL).
 Malaysian planters were helped by an upbeat view on palm
futures from IOI Corp, which said the worst was over for the
plantation sector as palm oil prices had recovered from last
year's slump, although merger activity would be muted.
[nKLR313596]
 Shares in Sime Darby (SIME.KL), Malaysia's top planter,
rose 2.84 percent, second-biggest planter IOI Corp (IOIB.KL)
edged up 0.85 percent, and Kuala Lumpur Kepong (KLKK.KL)
climbed 0.83 percent.
 Indonesia's index .JKSE gained 0.3 percent, the
Philippines rose 0.21 percent and Vietnam .VNI added 0.88
percent.
 ($1=34.00 Baht)
 (Editing by Alan Raybould)

















































































 

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