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SE Asia Stocks-Indonesia falls on weak Q4 GDP, rupiah; Thai shares rebound
January 6, 2014 / 10:27 AM / 4 years ago

SE Asia Stocks-Indonesia falls on weak Q4 GDP, rupiah; Thai shares rebound

BANGKOK, Jan 6 (Reuters) - Indonesian shares underperformed
in Southeast Asia on Monday, sliding to their lowest in two
weeks amid weak fourth-quarter economic estimates and a fall in
the rupiah, while short-covering helped Thai stocks
recoup earlier losses.
    Jakarta's Composite Index dropped 1.3 percent to
4,202.81, their lowest close since Dec. 23. Agricultural
 and mining stocks led the decliners due to
concerns about the impact of the rupiah's weakness on
earnings. 
    Indonesia's economy contracted by 1.4 to 2 percent in the
fourth quarter from the previous three months, though full-year
growth was 5.7 percent, Finance Minister Chatib Basri said on
Monday. 
    The Thai SET index ended up 0.5 percent at 1,230.84,
helped by late buying in battered stocks such as Kasikornbank
 and Advanced Info Service. The benchmark
fell to 1,205.44 at one point, the lowest since August 2012.
    Short-term trading dominated the market, while the 
persisting political uncertainty kept the market rebound small,
said Pichai Lertsupongkij, a senior analyst at broker Thanachart
Securities, pegging near-term resistance of the SET at 1,240.
    "Flows moved out of energy into banking and telecoms shares
today, mainly involving short-term trading. A big picture is
still weak as political concerns remain," said Pichai
Lertsupongkij.
    Thousands of anti-government protesters marched through the
Thai capital on Sunday, a prelude to a broader action next week
when they say they will shut down Bangkok in their bid to
scuttle a February election and topple Prime Minister Yingluck
Shinawatra.  
    Stocks in Singapore and Malaysia ended down
amid weaknesses in Asian stockmarkets after growth in China's
services sector slowed sharply last month. 
    Philippine shares gained 0.6 percent, helped by
selective buying in large caps such as Philippine Long Distance
Telephone, while Vietnam rose 0.74 percent, led
by gains in most blue chips. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   379.25        379.62       -0.10
 Singapore          3123.82       3131.47       -0.24
 Kuala Lumpur       1829.18       1834.74       -0.30
 Bangkok            1230.84       1224.62       +0.51
 Jakarta            4202.81       4257.66       -1.29
 Manila             5985.81       5947.93       +0.64
 Ho Chi Minh         509.10        505.37       +0.74
 
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   379.25        388.37       -2.35
 Singapore          3123.82       3167.43       -1.38
 Kuala Lumpur       1829.18       1866.96       -2.02
 Bangkok            1230.84       1298.71       -5.23
 Jakarta            4202.81       4274.18       -1.67
 Manila             5985.81       5889.83       +1.63
 Ho Chi Minh         509.10        504.63       +0.89
 
* 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         131,857,500          188,794,220      
 Kuala Lumpur       93,432,600          106,926,763      
 
 Bangkok             4,860,342            5,323,074      
 Jakarta         1,972,307,800        2,918,416,883    
 Manila                 77,784               71,307    
 Ho Chi Minh            68,738               88,871

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